Document_and_Entity_Informatio
Document and Entity Information Document (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Mar. 06, 2015 | Jun. 30, 2014 | |
Entity Information [Line Items] | |||
Entity Registrant Name | Federal Home Loan Bank of Dallas | ||
Entity Central Index Key | 1331757 | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Non-accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | 31-Dec-14 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | FALSE | ||
Entity Common Stock, Shares Outstanding | 12,187,971 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $0 |
Statements_of_Condition
Statements of Condition (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
ASSETS | ||||
Cash and due from banks | $1,507,708 | $911,081 | ||
Interest-bearing deposits | 266 | 344 | ||
Securities purchased under agreements to resell (Note 12) | 350,000 | 0 | ||
Federal funds sold (Notes 18 and 19) | 5,613,000 | 1,468,000 | ||
Trading securities (Notes 3, 12 and 17) ($35,985 pledged at December 31, 2014, which can be rehypothecated) | 408,563 | 1,007,757 | ||
Available-for-sale securities (Note 4) | 6,388,502 | 5,455,693 | ||
Held-to-maturity securities (a) (Note 5) | 4,662,013 | [1] | 5,198,549 | [1] |
Advances (Notes 6, 8 and 18) | 18,942,400 | 15,978,945 | ||
Mortgage loans held for portfolio, net of allowance for credit losses of $143 and $165 in 2014 and 2013, respectively (Notes 7, 8 and 18) | 71,411 | 91,110 | ||
Accrued interest receivable | 65,168 | 64,425 | ||
Premises and equipment, net | 18,368 | 18,477 | ||
Derivative assets (Notes 12 and 13) | 10,454 | 15,909 | ||
Other assets | 8,015 | 11,534 | ||
TOTAL ASSETS | 38,045,868 | 30,221,824 | ||
Deposits (Notes 9 and 18) | ||||
Interest-bearing | 797,390 | 885,638 | ||
Non-interest bearing | 24 | 29 | ||
Total deposits | 797,414 | 885,667 | ||
Consolidated obligations (Note 10) | ||||
Discount notes | 19,131,832 | 5,984,530 | ||
Bonds | 16,078,700 | 21,486,712 | ||
Total consolidated obligations | 35,210,532 | 27,471,242 | ||
Mandatorily redeemable capital stock (Note 14) | 5,059 | 3,065 | ||
Accrued interest payable | 39,726 | 47,035 | ||
Affordable Housing Program (Note 11) | 25,998 | 31,864 | ||
Derivative liabilities (Notes 12 and 13) | 21,521 | 10,991 | ||
Other liabilities | 26,705 | 25,456 | ||
Total liabilities | 36,126,955 | 28,475,320 | ||
Commitments and contingencies (Notes 11,13,15 and 17) | ||||
CAPITAL (Notes 14 and 18) | ||||
Capital stock - Class B putable ($100 par value) issued and outstanding shares: 12,227,376 and 11,236,747 shares in 2014 and 2013, respectively | 1,222,738 | 1,123,675 | ||
Retained earnings | ||||
Unrestricted | 650,224 | 615,620 | ||
Restricted | 49,552 | 39,850 | ||
Total retained earnings | 699,776 | 655,470 | ||
Accumulated other comprehensive income (loss) (Note 20) | -3,601 | -32,641 | ||
Total capital | 1,918,913 | 1,746,504 | ||
TOTAL LIABILITIES AND CAPITAL | $38,045,868 | $30,221,824 | ||
[1] | (a) Fair values: $4,727,130 and $5,258,422 at December 31, 2014 and 2013, respectively. |
Statements_of_Condition_Parent
Statements of Condition Parenthetical (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
ASSETS | ||
Held-to-maturity Securities, Fair Value | $4,727,130 | $5,258,422 |
Loans and Leases Receivable, Allowance | 143 | 165 |
Trading Securities Pledged as Collateral | $35,985 | $0 |
CAPITAL (Notes 14 and 18) | ||
Common Stock, Par or Stated Value Per Share | $100 | |
Common Class B [Member] | ||
CAPITAL (Notes 14 and 18) | ||
Common Stock, Par or Stated Value Per Share | $100 | $100 |
Common Stock, Shares, Issued | 12,227,376 | 11,236,747 |
Common Stock, Shares, Outstanding | 12,227,376 | 11,236,747 |
Statements_of_Income
Statements of Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
INTEREST INCOME | |||
Advances | $122,199 | $140,550 | $186,313 |
Prepayment fees on advances, net | 9,789 | 17,347 | 9,105 |
Interest-bearing deposits | 642 | 1,149 | 1,392 |
Securities purchased under agreements to resell | 630 | 1,268 | 4,477 |
Federal funds sold | 2,913 | 1,979 | 2,182 |
Trading securities | 454 | 327 | 0 |
Available-for-sale securities | 22,225 | 22,780 | 30,456 |
Held-to-maturity securities | 40,351 | 52,530 | 67,666 |
Mortgage loans held for portfolio | 4,628 | 5,908 | 7,872 |
Other | 0 | 0 | 2 |
Total interest income | 203,831 | 243,838 | 309,465 |
Consolidated obligations | |||
Bonds | 72,804 | 89,009 | 139,306 |
Discount notes | 10,344 | 6,812 | 8,418 |
Deposits | 79 | 129 | 323 |
Mandatorily redeemable capital stock | 15 | 23 | 21 |
Other borrowings | 6 | 8 | 8 |
Total interest expense | 83,248 | 95,981 | 148,076 |
NET INTEREST INCOME | 120,583 | 147,857 | 161,389 |
OTHER INCOME (LOSS) | |||
Total other-than-temporary impairment losses on held-to-maturity securities | -1,386 | 0 | -204 |
Net non-credit impairment losses on held-to-maturity securities recognized in other comprehensive income | 1,349 | 0 | -156 |
Credit component of other-than-temporary impairment losses on held-to-maturity securities | -37 | 0 | -360 |
Service fees | 2,508 | 2,705 | 2,727 |
Net gains on trading securities | 625 | 1,249 | 476 |
Net gains (losses) on derivatives and hedging activities | -423 | 4,481 | -7,588 |
Gains on other liabilities carried at fair value under the fair value option | 0 | 0 | 2,498 |
Gains on early extinguishment of debt | 962 | 7,285 | 0 |
Letter of credit fees | 4,832 | 4,658 | 4,659 |
Other, net | -425 | 314 | -209 |
Total other income | 8,042 | 20,692 | 2,203 |
OTHER EXPENSE | |||
Compensation and benefits | 39,584 | 40,103 | 40,235 |
Other operating expenses | 30,408 | 25,972 | 27,403 |
Finance Agency | 2,298 | 2,372 | 2,674 |
Office of Finance | 2,344 | 2,454 | 2,399 |
Other | 91 | 12 | 0 |
Total other expense | 74,725 | 70,913 | 72,711 |
INCOME BEFORE ASSESSMENTS | 53,900 | 97,636 | 90,881 |
Affordable Housing Program assessments | 5,391 | 9,766 | 9,090 |
NET INCOME | $48,509 | $87,870 | $81,791 |
Statements_of_Comprehensive_In
Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
NET INCOME | $48,509 | $87,870 | $81,791 |
OTHER COMPREHENSIVE INCOME (LOSS) | |||
Net unrealized gains (losses) on available-for-sale securities, net of unrealized gains and losses relating to hedged interest rate risk included in net income | 23,280 | -23,395 | 17,330 |
Non-credit portion of other-than-temporary impairment losses on held-to-maturity securities | -1,349 | 0 | -195 |
Reclassification adjustment for non-credit portion of other-than-temporary impairment losses recognized as credit losses in net income | 0 | 0 | 351 |
Accretion of non-credit portion of other-than-temporary impairment losses to the carrying value of held-to-maturity securities | 7,200 | 8,237 | 9,836 |
Postretirement benefit plan | |||
Prior service cost | 0 | -211 | 0 |
Amortization of prior service cost (credit) included in net periodic benefit cost | 2 | -17 | -35 |
Actuarial gain (loss) | -2 | 1,067 | 147 |
Amortization of net actuarial gain included in net periodic benefit cost | -91 | -77 | -64 |
Total other comprehensive income (loss) | 29,040 | -14,396 | 27,370 |
TOTAL COMPREHENSIVE INCOME | $77,549 | $73,474 | $109,161 |
Statements_of_Capital
Statements of Capital (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Beginning balance | $1,746,504 | $1,770,634 | $1,704,835 |
Proceeds from sale of capital stock | 1,177,333 | 979,815 | 765,834 |
Repurchase/redemption of capital stock | -1,079,169 | -1,050,878 | -807,367 |
Net shares reclassified to mandatorily redeemable capital stock | -3,130 | -26,325 | -1,632 |
Comprehensive income | |||
Net income | 48,509 | 87,870 | 81,791 |
Other comprehensive income (loss) | 29,040 | -14,396 | 27,370 |
Dividends on capital stock | |||
Cash | -169 | -172 | -178 |
Mandatorily redeemable capital stock | -5 | -44 | -19 |
Ending balance | 1,918,913 | 1,746,504 | 1,770,634 |
Capital Stock Putable | Common Class B [Member] | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Beginning balance, shares | 11,237 | 12,170 | 12,558 |
Beginning balance | 1,123,675 | 1,216,986 | 1,255,793 |
Proceeds from sale of capital stock, shares | 11,773 | 9,798 | 7,658 |
Proceeds from sale of capital stock | 1,177,333 | 979,815 | 765,834 |
Repurchase/redemption of capital stock, shares | -10,792 | -10,509 | -8,074 |
Repurchase/redemption of capital stock | -1,079,169 | -1,050,878 | -807,367 |
Net shares reclassified to mandatorily redeemable capital stock, shares | -31 | -263 | -16 |
Net shares reclassified to mandatorily redeemable capital stock | -3,130 | -26,325 | -1,632 |
Dividends on capital stock | |||
Stock, shares | 40 | 41 | 44 |
Stock | 4,029 | 4,077 | 4,358 |
Ending balance, shares | 12,227 | 11,237 | 12,170 |
Ending balance | 1,222,738 | 1,123,675 | 1,216,986 |
Retained Earnings | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Beginning balance | 655,470 | 571,893 | 494,657 |
Comprehensive income | |||
Net income | 48,509 | 87,870 | 81,791 |
Dividends on capital stock | |||
Cash | -169 | -172 | -178 |
Mandatorily redeemable capital stock | -5 | -44 | -19 |
Stock | -4,029 | -4,077 | -4,358 |
Ending balance | 699,776 | 655,470 | 571,893 |
Retained Earnings, Restricted | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Beginning balance | 39,850 | 22,276 | 5,918 |
Comprehensive income | |||
Net income | 9,702 | 17,574 | 16,358 |
Dividends on capital stock | |||
Ending balance | 49,552 | 39,850 | 22,276 |
Retained Earnings, Unrestricted | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Beginning balance | 615,620 | 549,617 | 488,739 |
Comprehensive income | |||
Net income | 38,807 | 70,296 | 65,433 |
Dividends on capital stock | |||
Cash | -169 | -172 | -178 |
Mandatorily redeemable capital stock | -5 | -44 | -19 |
Stock | -4,029 | -4,077 | -4,358 |
Ending balance | 650,224 | 615,620 | 549,617 |
Accumulated Other Comprehensive Income (Loss) | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Beginning balance | -32,641 | -18,245 | -45,615 |
Comprehensive income | |||
Other comprehensive income (loss) | 29,040 | -14,396 | 27,370 |
Dividends on capital stock | |||
Ending balance | ($3,601) | ($32,641) | ($18,245) |
Statements_of_Cash_Flows
Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
OPERATING ACTIVITIES | |||
Net income | $48,509 | $87,870 | $81,791 |
Depreciation and amortization | |||
Net premiums and discounts on advances, consolidated obligations, investments and mortgage loans | 79,024 | 36,626 | 37,114 |
Concessions on consolidated obligation bonds | 2,111 | 1,732 | 3,898 |
Premises, equipment and computer software costs | 3,563 | 4,620 | 6,046 |
Non-cash interest on mandatorily redeemable capital stock | 14 | 18 | 24 |
Net increase in trading securities | -823 | -1,017 | -1,507 |
Losses due to change in net fair value adjustment on derivative and hedging activities | 92,002 | 78,538 | 108,306 |
Gains on early extinguishment of debt | -962 | -7,285 | 0 |
Gains on other liabilities carried at fair value under the fair value option | 0 | 0 | -2,498 |
Credit component of other-than-temporary impairment losses on held-to-maturity securities | 37 | 0 | 360 |
Net losses on disposition of premises, equipment and computer software | 76 | 0 | 173 |
Decrease (increase) in accrued interest receivable | -743 | 8,221 | -90 |
Decrease (increase) in other assets | 3,206 | -716 | 872 |
Increase (decrease) in Affordable Housing Program (AHP) liability | -5,866 | 2,244 | -2,693 |
Decrease in accrued interest payable | -7,310 | -6,905 | -11,511 |
Increase (decrease) in other liabilities | 1,158 | 1,132 | -3,102 |
Total adjustments | 165,487 | 117,208 | 135,392 |
Net cash provided by operating activities | 213,996 | 205,078 | 217,183 |
INVESTING ACTIVITIES | |||
Net decrease (increase) in interest-bearing deposits, including swap collateral pledged | 185,321 | 403,590 | -665,258 |
Net decrease (increase) in securities purchased under agreements to resell | -350,000 | 3,000,000 | -2,500,000 |
Net decrease (increase) in federal funds sold | -4,145,000 | 751,000 | -574,000 |
Net decrease in loan to other FHLBank | 0 | 0 | 35,000 |
Net decrease (increase) in short-term trading securities held for investment | 599,854 | -998,884 | 0 |
Proceeds from maturities of available-for-sale securities | 26,497 | 0 | 0 |
Purchases of available-for-sale securities | -986,971 | 0 | -806,724 |
Proceeds from maturities of long-term held-to-maturity securities | 1,005,647 | 1,722,602 | 1,997,578 |
Purchases of long-term held-to-maturity securities | -453,459 | -1,694,237 | -739,408 |
Principal collected on advances | 444,676,288 | 472,889,692 | 469,441,483 |
Advances made | -447,675,939 | -470,756,800 | -469,088,973 |
Principal collected on mortgage loans held for portfolio | 19,542 | 30,019 | 41,068 |
Purchases of premises, equipment and computer software | -2,820 | -1,484 | -3,135 |
Net cash provided by (used in) investing activities | -7,101,040 | 5,345,498 | -2,862,369 |
FINANCING ACTIVITIES | |||
Net decrease in deposits and pass-through reserves, including swap collateral held | -90,522 | -289,778 | -344,161 |
Net payments on derivative contracts with financing elements | -191,320 | -208,017 | -106,502 |
Net proceeds from issuance of consolidated obligations | |||
Discount notes | 399,156,245 | 143,194,013 | 411,401,741 |
Bonds | 11,387,763 | 7,901,643 | 22,960,048 |
Debt issuance costs | -2,492 | -1,067 | -2,914 |
Payments for maturing and retiring consolidated obligations | |||
Discount notes | -386,010,247 | -144,193,430 | -414,216,446 |
Bonds | -16,862,596 | -11,864,577 | -17,224,405 |
Proceeds from issuance of capital stock | 1,177,333 | 979,815 | 765,834 |
Proceeds from issuance of mandatorily redeemable capital stock | 5 | 18 | 0 |
Payments for redemption of mandatorily redeemable capital stock | -1,160 | -27,845 | -12,151 |
Payments for repurchase/redemption of capital stock | -1,079,169 | -1,050,878 | -807,367 |
Cash dividends paid | -169 | -172 | -178 |
Net cash provided by (used in) financing activities | 7,483,671 | -5,560,275 | 2,413,499 |
Net increase (decrease) in cash and cash equivalents | 596,627 | -9,699 | -231,687 |
Cash and cash equivalents at beginning of the year | 911,081 | 920,780 | 1,152,467 |
Cash and cash equivalents at end of the year | 1,507,708 | 911,081 | 920,780 |
Supplemental Disclosures | |||
Interest paid | 115,042 | 145,979 | 181,852 |
AHP payments, net | 11,257 | 7,522 | 11,783 |
Stock dividends issued | 4,029 | 4,077 | 4,358 |
Dividends paid through issuance of mandatorily redeemable capital stock | 5 | 44 | 19 |
Capital stock reclassified to mandatorily redeemable capital stock, net | $3,130 | $26,325 | $1,632 |
Background_Information
Background Information | 12 Months Ended |
Dec. 31, 2014 | |
Background Information [Abstract] | |
Nature of Operations [Text Block] | Background Information |
The Federal Home Loan Bank of Dallas (the “Bank”), a federally chartered corporation, is one of 12 district Federal Home Loan Banks (each individually a “FHLBank” and collectively the “FHLBanks,” and, together with the Federal Home Loan Banks Office of Finance (“Office of Finance”), a joint office of the FHLBanks, the “FHLBank System”) that were created by the Federal Home Loan Bank Act of 1932 (as amended, the “FHLB Act”). The FHLBanks serve the public by enhancing the availability of credit for residential mortgages and targeted community development. The Bank serves eligible financial institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas (collectively, the Ninth District of the FHLBank System). The Bank provides a readily available, competitively priced source of funds to its member institutions. The Bank is a cooperative whose member institutions own the capital stock of the Bank. Regulated depository institutions and insurance companies engaged in residential housing finance and Community Development Financial Institutions that are certified under the Community Development Banking and Financial Institutions Act of 1994 may apply for membership in the Bank. All members must purchase stock in the Bank. Housing associates, including state and local housing authorities, that meet certain statutory criteria may also borrow from the Bank; while eligible to borrow, housing associates are not members of the Bank and, as such, are not required or allowed to hold capital stock. | |
The Federal Housing Finance Agency (“Finance Agency”), an independent agency in the executive branch of the U.S. government, supervises and regulates the FHLBanks and the Office of Finance. The Finance Agency’s stated mission is to ensure that the housing government-sponsored enterprises ("GSEs"), including the FHLBanks, operate in a safe and sound manner so that they serve as a reliable source of liquidity and funding for housing finance and community investment. Consistent with this mission, the Finance Agency establishes policies and regulations covering the operations of the FHLBanks. Each FHLBank operates as a separate entity with its own management, employees, and board of directors. The Bank does not have any special purpose entities or any other type of off-balance sheet conduits. | |
The Office of Finance facilitates the issuance and servicing of the FHLBanks’ debt instruments (known as consolidated obligations). As provided by the FHLB Act and Finance Agency regulation, the FHLBanks’ consolidated obligations are backed only by the financial resources of all 12 FHLBanks. Consolidated obligations are the joint and several obligations of all the FHLBanks and are the FHLBanks’ primary source of funds. Deposits, other borrowings, and the proceeds from capital stock issued to members provide other funds. The Bank primarily uses these funds to provide loans (known as advances) to its members. The Bank’s credit services also include letters of credit issued or confirmed on behalf of members; in addition, the Bank offers interest rate swaps, caps and floors to its members. Further, the Bank provides its members with a variety of correspondent banking services, including overnight and term deposit accounts, wire transfer services, securities safekeeping and securities pledging services. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2014 | |
Significant Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | Summary of Significant Accounting Policies |
Use of Estimates and Assumptions. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make assumptions and estimates. These assumptions and estimates may affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported amounts of income and expenses. Significant assumptions include those that are used by the Bank in its periodic evaluation of its holdings of non-agency residential mortgage-backed securities for other-than-temporary impairment. Significant estimates include the valuations of the Bank’s investment securities, as well as its derivative instruments and any associated hedged items. Actual results could differ from these estimates. | |
Federal Funds Sold, Securities Purchased Under Agreements to Resell and Interest-Bearing Deposits. These investments are carried at cost. | |
Investment Securities. The Bank records investment securities on trade date. The Bank carries investment securities for which it has both the ability and intent to hold to maturity (held-to-maturity securities) at cost, adjusted for the amortization of premiums and accretion of discounts using the level-yield method. The carrying amount of held-to-maturity securities is further adjusted for any other-than-temporary impairment charges, as described below. | |
The Bank classifies certain investment securities that it may sell before maturity as available-for-sale and carries them at fair value. For available-for-sale securities that have been hedged (with fixed-for-floating interest rate swaps) and qualify as fair value hedges, the Bank records the portion of the change in value related to the risk being hedged in other income (loss) as “net gains (losses) on derivatives and hedging activities” together with the related change in the fair value of the derivative, and records the remainder of the change in value of the securities in other comprehensive income as “net unrealized gains (losses) on available-for-sale securities.” | |
The Bank classifies certain other investments as trading and carries them at fair value. The Bank records changes in the fair value of these investments in other income (loss) in the statements of income. Although the securities are classified as trading, the Bank does not engage in active or speculative trading practices. | |
The Bank computes the amortization and accretion of premiums and discounts on mortgage-backed securities for which prepayments are probable and reasonably estimable using the level-yield method over the estimated lives of the securities. This method requires a retrospective adjustment of the effective yield each time the Bank changes the estimated life as if the new estimate had been known since the original acquisition date of the securities. The Bank computes the amortization and accretion of premiums and discounts on other investments using the level-yield method to the contractual maturity of the securities. | |
The Bank computes gains and losses on sales of investment securities using the specific identification method and includes these gains and losses in other income (loss) in the statements of income. The Bank treats securities purchased under agreements to resell as collateralized financings. | |
The Bank evaluates outstanding available-for-sale and held-to-maturity securities for other-than-temporary impairment on at least a quarterly basis. An investment security is impaired if the fair value of the investment is less than its amortized cost. Amortized cost includes adjustments (if any) made to the cost basis of an investment for accretion, amortization, the credit portion of previous other-than-temporary impairments and hedging. The Bank considers the impairment of a debt security to be other than temporary if the Bank (i) intends to sell the security, (ii) more likely than not will be required to sell the security before recovering its amortized cost basis, or (iii) does not expect to recover the security’s entire amortized cost basis (even if the Bank does not intend to sell the security). Further, an impairment is considered to be other than temporary if the Bank’s best estimate of the present value of cash flows expected to be collected from the debt security is less than the amortized cost basis of the security (any such shortfall is referred to as a “credit loss”). | |
If an other-than-temporary impairment (“OTTI”) occurs because the Bank intends to sell an impaired debt security, or more likely than not will be required to sell the security before recovery of its amortized cost basis, the impairment is recognized currently in earnings in an amount equal to the entire difference between fair value and amortized cost. | |
In instances in which a determination is made that a credit loss exists but the Bank does not intend to sell the debt security and it is not more likely than not that the Bank will be required to sell the debt security before the anticipated recovery of its remaining amortized cost basis, the other-than-temporary impairment (i.e., the difference between the security’s then-current carrying amount and its estimated fair value) is separated into (i) the amount of the total impairment related to the credit loss (i.e., the credit component) and (ii) the amount of the total impairment related to all other factors (i.e., the non-credit component). The credit component is recognized in earnings and the non-credit component is recognized in other comprehensive income. The total other-than-temporary impairment is presented in the statement of income with an offset for the amount of the total other-than-temporary impairment that is recognized in other comprehensive income. | |
The non-credit component of any OTTI losses recognized in other comprehensive income for debt securities classified as held-to-maturity is accreted over the remaining life of the debt security (in a prospective manner based on the amount and timing of future estimated cash flows) as an increase in the carrying value of the security unless and until the security is sold, the security matures, or there is an additional other-than-temporary impairment that is recognized in earnings. In instances in which an additional other-than-temporary impairment is recognized in earnings, the amount of the credit loss is reclassified from accumulated other comprehensive income to earnings. Further, if an additional other-than-temporary impairment is recognized in earnings and the held-to-maturity security’s then-current carrying amount exceeds its fair value, an additional non-credit impairment is concurrently recognized in other comprehensive income. Conversely, if an additional other-than-temporary impairment is recognized in earnings and the held-to-maturity security’s then-current carrying value is less than its fair value, the carrying value of the security is not increased. In periods subsequent to the recognition of an OTTI loss, the other-than-temporarily impaired debt security is accounted for as if it had been purchased on the measurement date of the other-than-temporary impairment at an amount equal to the previous amortized cost basis less the other-than-temporary impairment recognized in earnings. The difference between the new amortized cost basis and the cash flows expected to be collected is accreted as interest income over the remaining life of the security in a prospective manner based on the amount and timing of future estimated cash flows. In instances when there is a significant increase in a security's expected cash flows, the amount to be accreted is adjusted prospectively. | |
Advances. The Bank reports advances at their principal amount outstanding, net of unearned commitment fees and deferred prepayment fees, if any, as discussed below. The Bank credits interest on advances to income as earned. | |
Mortgage Loans Held for Portfolio. Through the Mortgage Partnership Finance® (“MPF”®) program offered by the FHLBank of Chicago, the Bank invested in government-guaranteed/insured mortgage loans (i.e., those insured or guaranteed by the Federal Housing Administration (“FHA”) or the Department of Veterans Affairs (“DVA”)) and conventional residential mortgage loans during the period from 1998 to mid-2003. These mortgage loans were originated by certain of its member institutions that participated in the MPF program ("Participating Financial Institutions" or “PFIs”). Under its then existing arrangement with the FHLBank of Chicago, the Bank retained title to the mortgage loans, subject to any participation interest in such loans that was sold to the FHLBank of Chicago; the interest in the loans retained by the Bank ranged from 1 percent to 49 percent. Additionally, during the period from 1998 to 2000, the Bank also acquired from the FHLBank of Chicago a percentage interest (ranging up to 75 percent) in certain MPF loans originated by PFIs of other FHLBanks. The Bank manages the liquidity, interest rate and prepayment risk of these loans, while the PFIs retain the servicing activities. The Bank and the PFIs share in the credit risk of the loans with the Bank assuming the first loss obligation limited by the First Loss Account (“FLA”), and the PFIs assuming credit losses in excess of the FLA, up to the amount of the credit enhancement obligation as specified in the master agreement (“Second Loss Credit Enhancement”). The Bank assumes all losses in excess of the Second Loss Credit Enhancement. | |
The Bank classifies mortgage loans held for portfolio as held for investment and, accordingly, reports them at their principal amount outstanding net of deferred premiums and discounts. The Bank credits interest on mortgage loans to income as earned. The Bank amortizes premiums and accretes discounts to interest income using the contractual method. The contractual method uses the cash flows required by the loan contracts, as adjusted for any actual prepayments, to apply the interest method. Future prepayments of principal are not anticipated under this method. The Bank has the ability and intent to hold these mortgage loans until maturity. | |
Allowance for Credit Losses. An allowance for credit losses is separately established for each of the Bank’s identified portfolio segments, if necessary, to provide for probable losses inherent in its financing receivables portfolio and other off-balance sheet credit exposures as of the balance sheet date. To the extent necessary, an allowance for credit losses for off-balance sheet credit exposures is recorded as a liability. See Note 8 — Allowance for Credit Losses for information regarding the determination of the allowance for credit losses. | |
A portfolio segment is defined as the level at which an entity develops and documents a systematic method for determining its allowance for credit losses. The Bank has developed and documented a systematic methodology for determining an allowance for credit losses for the following portfolio segments: (1) advances and other extensions of credit to members, collectively referred to as “extensions of credit to members;” (2) government-guaranteed/insured mortgage loans held for portfolio; and (3) conventional mortgage loans held for portfolio. | |
Classes of financing receivables are generally a disaggregation of a portfolio segment and are determined on the basis of their initial measurement attribute, the risk characteristics of the financing receivable and an entity’s method for monitoring and assessing credit risk. Because the credit risk arising from the Bank’s financing receivables is assessed and measured at the portfolio segment level, the Bank does not have separate classes of financing receivables within each of its portfolio segments. | |
The Bank places a conventional mortgage loan on nonaccrual status when the collection of the contractual principal or interest is 90 days or more past due. When a mortgage loan is placed on nonaccrual status, accrued but uncollected interest is reversed against interest income. The Bank records cash payments received on nonaccrual loans first as interest income until it recovers all interest, and then as a reduction of principal. A loan on nonaccrual status is restored to accrual status when none of its contractual principal and interest is due and unpaid, and the Bank expects repayment of the remaining contractual interest and principal. Government-guaranteed/insured loans are not placed on nonaccrual status. | |
A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect all amounts due according to the contractual terms of the loan agreement. Collateral-dependent loans that are on nonaccrual status are measured for impairment based on the fair value of the underlying property less estimated selling costs. Loans are considered collateral-dependent if repayment is expected to be provided solely by the sale of the underlying property; that is, there is no other available and reliable source of repayment. A collateral-dependent loan is impaired if the fair value of the underlying collateral is insufficient to recover the unpaid principal balance on the loan. Interest income on impaired loans is recognized in the same manner as it is for nonaccrual loans noted above. | |
The Bank evaluates whether to record a charge-off on a conventional mortgage loan upon the occurrence of a confirming event. Confirming events include, but are not limited to, the occurrence of foreclosure or notification of a claim against any of the credit enhancements. A charge-off is recorded if the recorded investment in the loan will not be recovered. | |
Real Estate Owned. Real estate owned includes assets that have been received in satisfaction of debt or as a result of actual or in-substance foreclosures. Real estate owned is initially recorded at fair value less estimated costs to sell (and subsequently carried at the lower of cost or fair value less estimated costs to sell) and is included in other assets in the statements of condition. If the fair value of the real estate owned less estimated costs to sell is less than the recorded investment in the mortgage loan at the date of transfer, the Bank recognizes a charge-off to the allowance for loan losses. Subsequent realized gains and realized or unrealized losses are included in other income (loss) in the statements of income. | |
Premises and Equipment. The Bank records premises and equipment at cost less accumulated depreciation and amortization. At December 31, 2014 and 2013, the Bank’s accumulated depreciation and amortization relating to premises and equipment was $34,991,000 and $34,443,000, respectively. The Bank computes depreciation using the straight-line method over the estimated useful lives of assets ranging from 3 to 39 years. It amortizes leasehold improvements on the straight-line basis over the shorter of the estimated useful life of the improvement or the remaining term of the lease. The Bank capitalizes improvements and major renewals but expenses ordinary maintenance and repairs when incurred. Depreciation and amortization expense was $2,050,000, $2,449,000 and $3,295,000 during the years ended December 31, 2014, 2013 and 2012, respectively. The Bank includes gains and losses on disposal of premises and equipment, if any, in other income (loss) under the caption “other, net.” | |
Computer Software. The cost of purchased computer software and certain costs incurred in developing computer software for internal use are capitalized and amortized over future periods. As of December 31, 2014 and 2013, the Bank had $1,287,000 and $1,997,000, respectively, in unamortized computer software costs included in other assets. Amortization of computer software costs charged to expense was $1,513,000, $2,171,000 and $2,751,000 for the years ended December 31, 2014, 2013 and 2012, respectively. | |
Derivatives and Hedging Activities. The Bank accounts for derivatives and hedging activities in accordance with the guidance in Topic 815 of the Financial Accounting Standards Board’s ("FASB") Accounting Standards Codification entitled “Derivatives and Hedging” (“ASC 815”). All derivatives are recognized on the statements of condition at their fair values, including accrued interest receivable and payable. For purposes of reporting derivative assets and derivative liabilities, the Bank offsets the fair value amounts recognized for derivative instruments (including the right to reclaim cash collateral and the obligation to return cash collateral) where a legally enforceable right of setoff exists. | |
Changes in the fair value of a derivative that is effective as — and that is designated and qualifies as — a fair value hedge, along with changes in the fair value of the hedged asset or liability that are attributable to the hedged risk (including changes that reflect gains or losses on firm commitments), are recorded in current period earnings. Any hedge ineffectiveness (which represents the amount by which the change in the fair value of the derivative differs from the change in the fair value of the hedged item) is recorded in other income (loss) as “net gains (losses) on derivatives and hedging activities.” Net interest income/expense associated with derivatives that qualify for fair value hedge accounting under ASC 815 is recorded as a component of net interest income. An economic hedge is defined as a derivative hedging specific or non-specific assets or liabilities that does not qualify or was not designated for hedge accounting under ASC 815, but is an acceptable hedging strategy under the Bank’s Enterprise Market Risk Management Policy. These hedging strategies also comply with Finance Agency regulatory requirements prohibiting speculative derivative transactions. An economic hedge by definition introduces the potential for earnings variability as changes in the fair value of a derivative designated as an economic hedge are recorded in current period earnings with no offsetting fair value adjustment to an asset or liability. Both the net interest income/expense and the fair value changes associated with derivatives in economic hedging relationships are recorded in other income (loss) as “net gains (losses) on derivatives and hedging activities.” Cash flows associated with derivatives are reported as cash flows from operating activities in the statements of cash flows, unless the derivatives contain an other-than-insignificant financing element, in which case the cash flows are reported as cash flows from financing activities. | |
If hedging relationships meet certain criteria specified in ASC 815, they are eligible for hedge accounting and the offsetting changes in fair value of the hedged items may be recorded in earnings. The application of hedge accounting generally requires the Bank to evaluate the effectiveness of the hedging relationships on an ongoing basis and to calculate the changes in fair value of the derivatives and related hedged items independently. This is commonly known as the “long-haul” method of accounting. Transactions that meet more stringent criteria qualify for the “shortcut” method of hedge accounting in which an assumption can be made that the change in fair value of a hedged item exactly offsets the change in value of the related derivative. The Bank considers hedges of committed advances to be eligible for the shortcut method of accounting as long as the settlement of the committed advance occurs within the shortest period possible for that type of instrument based on market settlement conventions, the fair value of the swap is zero at the inception of the hedging relationship, and the transaction meets all of the other criteria for shortcut accounting specified in ASC 815. The Bank has defined the market settlement convention to be five business days or less for advances. The Bank records the changes in fair value of the derivative and the hedged item beginning on the trade date. | |
The Bank may issue debt, make advances, or purchase financial instruments in which a derivative instrument is “embedded” and the financial instrument that embodies the embedded derivative instrument is not remeasured at fair value with changes in fair value reported in earnings as they occur. Upon execution of these transactions, the Bank assesses whether the economic characteristics of the embedded derivative are clearly and closely related to the economic characteristics of the remaining component of the financial instrument (i.e., the host contract) and whether a separate, non-embedded instrument with the same terms as the embedded instrument would meet the definition of a derivative instrument. When it is determined that (1) the embedded derivative possesses economic characteristics that are not clearly and closely related to the economic characteristics of the host contract and (2) a separate, stand-alone instrument with the same terms would qualify as a derivative instrument, the embedded derivative is separated from the host contract, carried at fair value, and designated as either (1) a hedging instrument in a fair value hedge or (2) a stand-alone derivative instrument pursuant to an economic hedge. However, if the entire contract were to be measured at fair value, with changes in fair value reported in current earnings, or if the Bank could not reliably identify and measure the embedded derivative for purposes of separating that derivative from its host contract, the entire contract would be carried on the statement of condition at fair value and no portion of the contract would be separately accounted for as a derivative. | |
The Bank discontinues hedge accounting prospectively when: (1) management determines that the derivative is no longer effective in offsetting changes in the fair value of a hedged item; (2) the derivative and/or the hedged item expires or is sold, terminated, or exercised; (3) a hedged firm commitment no longer meets the definition of a firm commitment; or (4) management determines that designating the derivative as a hedging instrument in accordance with ASC 815 is no longer appropriate. | |
When fair value hedge accounting for a specific derivative is discontinued due to the Bank’s determination that such derivative no longer qualifies for hedge accounting treatment, the Bank will continue to carry the derivative on the statement of condition at its fair value, cease to adjust the hedged asset or liability for changes in fair value, and amortize the cumulative basis adjustment on the formerly hedged item into earnings over its remaining term using the level-yield method. In all cases in which hedge accounting is discontinued and the derivative remains outstanding, the Bank will carry the derivative at its fair value on the statement of condition, recognizing changes in the fair value of the derivative in current period earnings. | |
When hedge accounting is discontinued because the hedged item no longer meets the definition of a firm commitment, the Bank continues to carry the derivative on the statement of condition at its fair value, removing from the statement of condition any asset or liability that was recorded to recognize the firm commitment and recording it as a gain or loss in current period earnings. | |
Mandatorily Redeemable Capital Stock. The Bank reclassifies shares of capital stock from the capital section to the liability section of its statement of condition at the point in time when a member submits a written redemption notice, gives notice of its intent to withdraw from membership, or becomes a non-member by merger or acquisition, charter termination, or involuntary termination from membership, as the shares of capital stock then meet the definition of a mandatorily redeemable financial instrument. Shares of capital stock meeting this definition are reclassified to liabilities at fair value. Following reclassification of the stock, any dividends paid or accrued on such shares are recorded as interest expense in the statement of income. Repurchase or redemption of these mandatorily redeemable financial instruments is reported as a cash outflow in the financing activities section of the statement of cash flows. | |
If a member cancels a written redemption or withdrawal notice, the Bank reclassifies the shares subject to the cancellation notice from liabilities back to equity. Following this reclassification to equity, dividends on the capital stock are once again recorded as a reduction of retained earnings. | |
Although mandatorily redeemable capital stock is excluded from capital for financial reporting purposes, it is considered capital for regulatory purposes. See Note 14 for more information, including restrictions on stock redemption. | |
Affordable Housing Program. The FHLB Act requires each FHLBank to establish and fund an Affordable Housing Program (“AHP”) (see Note 11). The Bank charges the required funding for AHP to earnings and establishes a liability. The Bank makes AHP funds available to members in the form of direct grants to assist in the purchase, construction, or rehabilitation of housing for very low-, low-, and moderate-income households. | |
Prepayment Fees. The Bank charges a prepayment fee when members/borrowers prepay certain advances before their original maturities. The Bank records prepayment fees received from members/borrowers net of hedging adjustments included in the book basis of the prepaid advance, if any, as interest income on advances in the statements of income either immediately (as prepayment fees on advances) or over time (as interest income on advances), as further described below. In cases in which the Bank funds a new advance concurrent with or within a short period of time before or after the prepayment of an existing advance, the Bank evaluates whether the new advance meets the accounting criteria to qualify as a modification of an existing advance. If the new advance qualifies as a modification of the existing advance, the net prepayment fee on the prepaid advance is deferred, recorded in the basis of the modified advance, and amortized into interest income over the life of the modified advance using the level-yield method. This amortization is recorded in interest income on advances. If the Bank determines that the advance should be treated as a new advance, or in instances where no new advance is funded, it records the net fees as “prepayment fees on advances” in the interest income section of the statements of income. | |
Commitment Fees. The Bank defers commitment fees for advances and, with the exception of those fees associated with certain optional advance commitments described in Note 16, amortizes them to interest income using the level-yield method over the life of the advance. The Bank records commitment fees for letters of credit as a deferred credit when it receives the fees and amortizes them over the term of the letter of credit using the straight-line method. | |
Concessions on Consolidated Obligations. The Bank defers and amortizes, using the level-yield method, the amounts paid to securities dealers in connection with the sale of consolidated obligation bonds over the term to maturity of the related bonds. The Office of Finance prorates the amount of the concession to the Bank based upon the percentage of the debt issued that is assumed by the Bank. Unamortized concessions were $2,179,000 and $1,798,000 at December 31, 2014 and 2013, respectively, and are included in other assets on the statements of condition. Amortization of such concessions is included in consolidated obligation bond interest expense and totaled $2,111,000, $1,732,000 and $3,898,000 during the years ended December 31, 2014, 2013 and 2012, respectively. The Bank charges to expense as incurred the concessions applicable to the sale of consolidated obligation discount notes because of the short maturities of these notes. Concessions related to the sale of discount notes totaling $870,000, $209,000 and $579,000 are included in interest expense on consolidated obligation discount notes in the statements of income for the years ended December 31, 2014, 2013 and 2012, respectively. | |
Discounts and Premiums on Consolidated Obligations. The Bank expenses the discounts on consolidated obligation discount notes using the level-yield method over the term to maturity of the related notes. It accretes the discounts and amortizes the premiums on consolidated obligation bonds to expense using the level-yield method over the term to maturity of the bonds. | |
Finance Agency and Office of Finance Expenses. The Bank is assessed its proportionate share of the costs of operating the Finance Agency and the Office of Finance. The assessment for the FHLBanks’ portion of the Finance Agency’s operating and capital expenditures is allocated among the FHLBanks based on the ratio between each FHLBank’s minimum required regulatory capital and the aggregate minimum required regulatory capital of all FHLBanks determined as of June 30 of each year. The expenses of the Office of Finance are shared on a pro rata basis with two-thirds based on each FHLBank’s total consolidated obligations outstanding (as of the current month-end) and one-third divided equally among the 12 FHLBanks. These costs are included in the other expense section of the statements of income. | |
Estimated Fair Values. Some of the Bank’s financial instruments (e.g., advances) lack an available trading market characterized by transactions between a willing buyer and a willing seller engaging in an exchange transaction. Therefore, the Bank uses internal models employing assumptions regarding interest rates, volatilities, prepayments, and other factors to perform present-value calculations when disclosing estimated fair values for these financial instruments. The Bank assumes that book value approximates fair value for certain financial instruments with three months or less to repricing or maturity. For a discussion of the Bank's valuation techniques and the estimated fair values of its financial instruments, see Note 16. | |
Cash Flows. In the statements of cash flows, the Bank considers cash and due from banks as cash and cash equivalents. |
Recently_Issued_Accounting_Gui
Recently Issued Accounting Guidance | 12 Months Ended |
Dec. 31, 2014 | |
Recently Issued Accounting Guidance [Abstract] | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Recently Issued Accounting Guidance |
Asset Classification and Charge-offs. On April 9, 2012, the Finance Agency issued Advisory Bulletin 2012-02, "Framework for Adversely Classifying Loans, Other Real Estate Owned, and Other Assets and Listing Assets for Special Mention" ("AB 2012-02"). The guidance establishes a standard and uniform methodology for classifying assets and prescribes the timing of asset charge-offs, excluding investment securities. The guidance in AB 2012-02 is generally consistent with the Uniform Retail Credit Classification and Account Management Policy issued by the federal banking regulators in June 2000. The adoption of the accounting guidance in AB 2012-02, which is effective January 1, 2015, will not have a significant impact on the Bank's results of operations or financial condition. | |
Joint and Several Liability Arrangements. On February 28, 2013, the FASB issued Accounting Standards Update ("ASU")2013-04 “Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date” (“ASU 2013-04”), which provides guidance for the recognition, measurement and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of the guidance is fixed at the reporting date. ASU 2013-04 requires an entity to measure these obligations as the sum of (1) the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and (2) any additional amount the reporting entity expects to pay on behalf of its co-obligors. ASU 2013-04 also requires an entity to disclose the nature and amount of the obligation as well as other information about those obligations. The guidance in ASU 2013-04 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013 (January 1, 2014 for the Bank) and is to be applied retrospectively to all prior periods presented. The adoption of this guidance did not have any impact on the Bank's results of operations or financial condition. | |
Foreclosure of Residential Real Estate. On January 17, 2014, the FASB issued ASU 2014-04 “Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure” (“ASU 2014-04”), which clarifies when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. ASU 2014-04 states that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical | |
possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or a similar legal agreement. Additionally, ASU 2014-04 requires interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. | |
For public companies, the guidance in ASU 2014-04 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2014 (January 1, 2015 for the Bank) and may be applied either retrospectively by means of a cumulative-effect adjustment to residential consumer mortgage loans and foreclosed residential real estate properties existing as of the beginning of the annual period for which the guidance is effective or prospectively to all instances of an entity receiving physical possession of residential real estate property collateralized by consumer mortgage loans that occur after the date of adoption. Early adoption is permitted. The adoption of this guidance will not have a significant impact on the Bank's results of operations or financial condition. | |
Revenue from Contracts with Customers. On May 28, 2014, the FASB issued ASU 2014-09 "Revenue from Contracts with Customers" ("ASU 2014-09"), which outlines a comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. In addition, ASU 2014-09 amends the existing requirements for the recognition of a gain or loss on the transfer of non-financial assets that are not in a contract with a customer. ASU 2014-09 applies to all contracts with customers except those that are within the scope of certain other standards, such as financial instruments, certain guarantees, insurance contracts, and lease contracts. The guidance in ASU 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016 (January 1, 2017 for the Bank). Early application is not permitted. The Bank has not yet determined the effect, if any, that the adoption of ASU 2014-09 will have on its results of operations or financial condition. | |
Repurchase-to-Maturity Transactions and Repurchase Financings. On June 12, 2014, the FASB issued ASU 2014-11 "Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures" ("ASU 2014-11"), which changes the accounting for repurchase-to-maturity transactions and linked repurchase financings to secured borrowing accounting, which is consistent with the accounting for other repurchase agreements. In addition, ASU 2014-11 requires disclosures about transfers accounted for as sales in transactions that are economically similar to repurchase agreements and about the types of collateral pledged in repurchase agreements and similar transactions accounted for as secured borrowings. The accounting changes in ASU 2014-11 and the disclosures for certain transactions accounted for as a sale are effective for public companies for the first interim or annual period beginning after December 15, 2014 (January 1, 2015 for the Bank). For public companies, the disclosures for transactions accounted for as secured borrowings are required to be presented for annual periods beginning after December 15, 2014 (January 1, 2015 for the Bank), and interim periods beginning after March 15, 2015 (April 1, 2015 for the Bank). Earlier application for a public company is prohibited. The adoption of this guidance will not have any impact on the Bank's results of operations or financial condition. | |
Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure. On August 8, 2014, the FASB issued ASU 2014-14 “Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure” (“ASU 2014-14”), which requires that government-guaranteed mortgage loans be derecognized and that a separate other receivable be recognized upon foreclosure if the following conditions are met: (i) the loan has a government guarantee that is not separable from the loan before foreclosure, (ii) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim, and (iii) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. For public business entities, the guidance in ASU 2014-14 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2014 (January 1, 2015 for the Bank) and may be applied using either the modified retrospective transition method or the prospective transition method. Early adoption is permitted. The adoption of this guidance will not have a significant impact on the Bank's results of operations or financial condition. |
Trading_Securities
Trading Securities | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Trading Securities [Abstract] | ||||||||
Trading Securities Disclosure [Text Block] | Trading Securities | |||||||
Major Security Types. Trading securities as of December 31, 2014 and 2013 were as follows (in thousands): | ||||||||
December 31, 2014 | December 31, 2013 | |||||||
U.S. Treasury Bills | $ | 399,794 | $ | 999,505 | ||||
Other | 8,769 | 8,252 | ||||||
Total | $ | 408,563 | $ | 1,007,757 | ||||
Other trading securities consist solely of mutual fund investments associated with the Bank's non-qualified deferred compensation plans. | ||||||||
Net gains on trading securities during the years ended December 31, 2014, 2013 and 2012 included changes in net unrealized holding gain of $418,000, $1,249,000 and $476,000 for securities that were held on December 31, 2014, 2013 and 2012, respectively. |
AvailableforSale_Securities
Available-for-Sale Securities | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||
Available-for-sale Securities [Abstract] | |||||||||||||||||||||||||||||||||
Available-for-Sale Securities Disclosure [Text Block] | Available-for-Sale Securities | ||||||||||||||||||||||||||||||||
Major Security Types. Available-for-sale securities as of December 31, 2014 were as follows (in thousands): | |||||||||||||||||||||||||||||||||
Amortized | Gross Unrealized Gains | Gross | Estimated | ||||||||||||||||||||||||||||||
Cost | Unrealized | Fair | |||||||||||||||||||||||||||||||
Losses | Value | ||||||||||||||||||||||||||||||||
Debentures | |||||||||||||||||||||||||||||||||
U.S. government-guaranteed obligations | $ | 49,666 | $ | 308 | $ | — | $ | 49,974 | |||||||||||||||||||||||||
GSE obligations | 4,890,484 | 31,066 | — | 4,921,550 | |||||||||||||||||||||||||||||
Other | 411,145 | 701 | 535 | 411,311 | |||||||||||||||||||||||||||||
5,351,295 | 32,075 | 535 | 5,382,835 | ||||||||||||||||||||||||||||||
GSE commercial MBS | 1,014,795 | 322 | 9,450 | 1,005,667 | |||||||||||||||||||||||||||||
Total | $ | 6,366,090 | $ | 32,397 | $ | 9,985 | $ | 6,388,502 | |||||||||||||||||||||||||
Available-for-sale securities as of December 31, 2013 were as follows (in thousands): | |||||||||||||||||||||||||||||||||
Amortized | Gross Unrealized Gains | Gross | Estimated | ||||||||||||||||||||||||||||||
Cost | Unrealized | Fair | |||||||||||||||||||||||||||||||
Losses | Value | ||||||||||||||||||||||||||||||||
Debentures | |||||||||||||||||||||||||||||||||
U.S. government-guaranteed obligations | $ | 54,195 | $ | 48 | $ | 101 | $ | 54,142 | |||||||||||||||||||||||||
GSE obligations | 4,965,468 | 6,111 | 6,201 | 4,965,378 | |||||||||||||||||||||||||||||
Other | 436,898 | 418 | 1,143 | 436,173 | |||||||||||||||||||||||||||||
Total | $ | 5,456,561 | $ | 6,577 | $ | 7,445 | $ | 5,455,693 | |||||||||||||||||||||||||
Other debentures are comprised of securities issued by the Private Export Funding Corporation ("PEFCO"). These debentures are fully secured by U.S. government-guaranteed obligations and the payment of interest on the debentures is guaranteed by an agency of the U.S. government. The amortized cost of the Bank's available-for-sale securities includes hedging adjustments. The following table summarizes (in thousands, except number of positions) the available-for-sale securities with unrealized losses as of December 31, 2014. The unrealized losses are aggregated by major security type and length of time that individual securities have been in a continuous loss position. | |||||||||||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||
Number of | Estimated | Gross | Number of | Estimated | Gross | Number of | Estimated | Gross | |||||||||||||||||||||||||
Positions | Fair | Unrealized | Positions | Fair | Unrealized | Positions | Fair | Unrealized | |||||||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||||||||||
Debentures | |||||||||||||||||||||||||||||||||
Other | 18 | $ | 163,153 | $ | 535 | — | $ | — | $ | — | 18 | $ | 163,153 | $ | 535 | ||||||||||||||||||
GSE commercial MBS | 29 | 863,159 | 9,450 | — | — | — | 29 | 863,159 | 9,450 | ||||||||||||||||||||||||
Total | 47 | $ | 1,026,312 | $ | 9,985 | — | $ | — | $ | — | 47 | $ | 1,026,312 | $ | 9,985 | ||||||||||||||||||
The following table summarizes (in thousands, except number of positions) the available-for-sale securities with unrealized losses as of December 31, 2013. The unrealized losses are aggregated by major security type and length of time that individual securities have been in a continuous loss position. | |||||||||||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||
Number of | Estimated | Gross | Number of | Estimated | Gross | Number of | Estimated | Gross | |||||||||||||||||||||||||
Positions | Fair | Unrealized | Positions | Fair | Unrealized | Positions | Fair | Unrealized | |||||||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||||||||||
Debentures | |||||||||||||||||||||||||||||||||
U.S. government-guaranteed obligations | 2 | $ | 24,063 | $ | 101 | — | $ | — | $ | — | 2 | $ | 24,063 | $ | 101 | ||||||||||||||||||
GSE obligations | 108 | 1,628,306 | 6,201 | — | — | — | 108 | 1,628,306 | 6,201 | ||||||||||||||||||||||||
Other | 22 | 192,549 | 1,070 | 3 | 14,754 | 73 | 25 | 207,303 | 1,143 | ||||||||||||||||||||||||
Total | 132 | $ | 1,844,918 | $ | 7,372 | 3 | $ | 14,754 | $ | 73 | 135 | $ | 1,859,672 | $ | 7,445 | ||||||||||||||||||
At December 31, 2014, the gross unrealized losses on the Bank’s available-for-sale securities were $9,985,000. All of the Bank's available-for-sale securities are either guaranteed by the U.S. government, issued by GSEs or fully secured by collateral that is guaranteed by the U.S government. As of December 31, 2014, the U.S. government and the issuers of the Bank’s holdings of GSE debentures were rated triple-A by Moody’s Investors Service (“Moody’s”) and Fitch Ratings, Ltd. (“Fitch”) and AA+ by Standard and Poor’s (“S&P”). The Bank's holdings of PEFCO debentures were rated triple-A by Moody's and Fitch, and A+ by S&P at that date. Based upon the Bank’s assessment of the creditworthiness of the issuers of the GSE MBS and the credit ratings assigned by each of the nationally recognized statistical rating organizations (“NRSROs”), the Bank expects that its holdings of GSE MBS that were in an unrealized loss position at December 31, 2014 would not be settled at an amount less than the Bank’s amortized cost bases in these investments. Further, based on PEFCO's creditworthiness, the U.S. government's guaranty of the payment of principal and interest on the collateral securing the PEFCO debentures, and the guaranty of the payment of interest on the debentures by an agency of the U.S. government, the Bank expects that its holdings of PEFCO debentures that were in an unrealized loss position at December 31, 2014 would not be settled at an amount less than the Bank’s amortized cost bases in these investments. Because the current market value deficits associated with the Bank's available-for-sale securities are not attributable to credit quality, and because the Bank does not intend to sell the investments and it is not more likely than not that the Bank will be required to sell the investments before recovery of their amortized cost bases, the Bank does not consider any of these investments to be other-than-temporarily impaired at December 31, 2014. | |||||||||||||||||||||||||||||||||
Redemption Terms. The amortized cost and estimated fair value of available-for-sale securities by contractual maturity at December 31, 2014 and 2013 are presented below (in thousands). | |||||||||||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||
Maturity | Amortized Cost | Estimated | Amortized Cost | Estimated | |||||||||||||||||||||||||||||
Fair Value | Fair Value | ||||||||||||||||||||||||||||||||
Debentures | |||||||||||||||||||||||||||||||||
Due in one year or less | $ | 87,379 | $ | 87,418 | $ | 26,842 | $ | 26,851 | |||||||||||||||||||||||||
Due after one year through five years | 4,224,231 | 4,245,122 | 3,910,837 | 3,914,956 | |||||||||||||||||||||||||||||
Due after five years through ten years | 1,039,685 | 1,050,295 | 1,518,882 | 1,513,886 | |||||||||||||||||||||||||||||
5,351,295 | 5,382,835 | 5,456,561 | 5,455,693 | ||||||||||||||||||||||||||||||
GSE commercial MBS | 1,014,795 | 1,005,667 | — | — | |||||||||||||||||||||||||||||
Total | $ | 6,366,090 | $ | 6,388,502 | $ | 5,456,561 | $ | 5,455,693 | |||||||||||||||||||||||||
Interest Rate Payment Terms. The following table provides interest rate payment terms for investment securities classified as available-for-sale at December 31, 2014 and 2013 (in thousands): | |||||||||||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||
Amortized cost of available-for-sale securities other than MBS | |||||||||||||||||||||||||||||||||
Fixed-rate | $ | 5,276,295 | $ | 5,381,561 | |||||||||||||||||||||||||||||
Variable-rate | 75,000 | 75,000 | |||||||||||||||||||||||||||||||
5,351,295 | 5,456,561 | ||||||||||||||||||||||||||||||||
Amortized cost of fixed-rate multi-family MBS | 1,014,795 | — | |||||||||||||||||||||||||||||||
Total | $ | 6,366,090 | $ | 5,456,561 | |||||||||||||||||||||||||||||
At December 31, 2014 and 2013, all of the Bank’s fixed-rate available-for-sale securities were swapped to a variable rate. |
HeldtoMaturity_Securities
Held-to-Maturity Securities | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||
Held-to-maturity Securities, Unclassified [Abstract] | |||||||||||||||||||||||||||||||||
Held-to-Maturity Securities Disclosure [Text Block] | Held-to-Maturity Securities | ||||||||||||||||||||||||||||||||
Major Security Types. Held-to-maturity securities as of December 31, 2014 were as follows (in thousands): | |||||||||||||||||||||||||||||||||
Amortized | OTTI Recorded in | Carrying | Gross | Gross | Estimated | ||||||||||||||||||||||||||||
Cost | Accumulated Other | Value | Unrecognized | Unrecognized | Fair | ||||||||||||||||||||||||||||
Comprehensive | Holding | Holding | Value | ||||||||||||||||||||||||||||||
Income (Loss) | Gains | Losses | |||||||||||||||||||||||||||||||
Debentures | |||||||||||||||||||||||||||||||||
U.S. government-guaranteed obligations | $ | 27,119 | $ | — | $ | 27,119 | $ | 143 | $ | — | $ | 27,262 | |||||||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||||||||||||||||
U.S. government-guaranteed residential MBS | 6,642 | — | 6,642 | 34 | — | 6,676 | |||||||||||||||||||||||||||
GSE residential MBS | 4,424,542 | — | 4,424,542 | 46,767 | 398 | 4,470,911 | |||||||||||||||||||||||||||
Non-agency residential MBS | 169,240 | 27,349 | 141,891 | 21,982 | 3,469 | 160,404 | |||||||||||||||||||||||||||
GSE commercial MBS | 61,819 | — | 61,819 | 58 | — | 61,877 | |||||||||||||||||||||||||||
4,662,243 | 27,349 | 4,634,894 | 68,841 | 3,867 | 4,699,868 | ||||||||||||||||||||||||||||
Total | $ | 4,689,362 | $ | 27,349 | $ | 4,662,013 | $ | 68,984 | $ | 3,867 | $ | 4,727,130 | |||||||||||||||||||||
Held-to-maturity securities as of December 31, 2013 were as follows (in thousands): | |||||||||||||||||||||||||||||||||
Amortized | OTTI Recorded in | Carrying | Gross | Gross | Estimated | ||||||||||||||||||||||||||||
Cost | Accumulated Other | Value | Unrecognized | Unrecognized | Fair | ||||||||||||||||||||||||||||
Comprehensive | Holding | Holding | Value | ||||||||||||||||||||||||||||||
Income (Loss) | Gains | Losses | |||||||||||||||||||||||||||||||
Debentures | |||||||||||||||||||||||||||||||||
U.S. government-guaranteed obligations | $ | 32,689 | $ | — | $ | 32,689 | $ | 126 | $ | 156 | $ | 32,659 | |||||||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||||||||||||||||
U.S. government-guaranteed residential MBS | 10,110 | — | 10,110 | 58 | — | 10,168 | |||||||||||||||||||||||||||
GSE residential MBS | 4,990,347 | — | 4,990,347 | 46,734 | 4,683 | 5,032,398 | |||||||||||||||||||||||||||
Non-agency residential MBS | 198,603 | 33,200 | 165,403 | 17,794 | — | 183,197 | |||||||||||||||||||||||||||
5,199,060 | 33,200 | 5,165,860 | 64,586 | 4,683 | 5,225,763 | ||||||||||||||||||||||||||||
Total | $ | 5,231,749 | $ | 33,200 | $ | 5,198,549 | $ | 64,712 | $ | 4,839 | $ | 5,258,422 | |||||||||||||||||||||
The following table summarizes (in thousands, except number of positions) the held-to-maturity securities with unrealized losses as of December 31, 2014. The unrealized losses include other-than-temporary impairments recorded in accumulated other comprehensive income (loss) and gross unrecognized holding losses (or, in the case of the Bank's holdings of non-agency residential MBS, gross unrecognized holding gains) and are aggregated by major security type and length of time that individual securities have been in a continuous loss position. | |||||||||||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||
Number of | Estimated | Gross | Number of | Estimated | Gross | Number of | Estimated | Gross | |||||||||||||||||||||||||
Positions | Fair | Unrealized | Positions | Fair | Unrealized | Positions | Fair | Unrealized | |||||||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||||||||||||||||
GSE residential MBS | 1 | $ | 10,798 | $ | 5 | 17 | $ | 485,626 | $ | 393 | 18 | $ | 496,424 | $ | 398 | ||||||||||||||||||
Non-agency residential MBS | 1 | 6,874 | 223 | 24 | 131,265 | 9,917 | 25 | 138,139 | 10,140 | ||||||||||||||||||||||||
Total | 2 | $ | 17,672 | $ | 228 | 41 | $ | 616,891 | $ | 10,310 | 43 | $ | 634,563 | $ | 10,538 | ||||||||||||||||||
The following table summarizes (in thousands, except number of positions) the held-to-maturity securities with unrealized losses as of December 31, 2013. The unrealized losses include other-than-temporary impairments recorded in accumulated other comprehensive income (loss) and gross unrecognized holding losses (or, in the case of the Bank's holdings of non-agency residential MBS, gross unrecognized holding gains) and are aggregated by major security type and length of time that individual securities have been in a continuous loss position. | |||||||||||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||
Number of | Estimated | Gross | Number of | Estimated | Gross | Number of | Estimated | Gross | |||||||||||||||||||||||||
Positions | Fair | Unrealized | Positions | Fair | Unrealized | Positions | Fair | Unrealized | |||||||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||||||||||
Debentures | |||||||||||||||||||||||||||||||||
U.S. government-guaranteed obligations | — | $ | — | $ | — | 2 | $ | 16,157 | $ | 156 | 2 | $ | 16,157 | $ | 156 | ||||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||||||||||||||||
GSE residential MBS | 42 | 1,591,628 | 4,353 | 13 | 102,236 | 330 | 55 | 1,693,864 | 4,683 | ||||||||||||||||||||||||
Non-agency residential MBS | 1 | 10,210 | 80 | 27 | 157,101 | 16,033 | 28 | 167,311 | 16,113 | ||||||||||||||||||||||||
43 | 1,601,838 | 4,433 | 40 | 259,337 | 16,363 | 83 | 1,861,175 | 20,796 | |||||||||||||||||||||||||
Total | 43 | $ | 1,601,838 | $ | 4,433 | 42 | $ | 275,494 | $ | 16,519 | 85 | $ | 1,877,332 | $ | 20,952 | ||||||||||||||||||
At December 31, 2014, the gross unrealized losses on the Bank’s held-to-maturity securities were $10,538,000, of which $10,140,000 was attributable to its holdings of non-agency (i.e., private label) residential MBS and $398,000 was attributable to securities that are guaranteed by GSEs. As of December 31, 2014, the U.S. government and the issuers of the Bank's holdings of GSE MBS were rated triple-A by Moody's and Fitch and AA+ by S&P. | |||||||||||||||||||||||||||||||||
Based upon the Bank’s assessment of the creditworthiness of the issuers of the GSE MBS and the credit ratings assigned by the NRSROs, the Bank expects that its holdings of GSE MBS that were in an unrealized loss position at December 31, 2014 would not be settled at an amount less than the Bank’s amortized cost bases in these investments. Because the current market value deficits associated with these securities are not attributable to credit quality, and because the Bank does not intend to sell the investments and it is not more likely than not that the Bank will be required to sell the investments before recovery of their amortized cost bases, the Bank does not consider any of these investments to be other-than-temporarily impaired at December 31, 2014. | |||||||||||||||||||||||||||||||||
The deterioration in the U.S. housing markets that occurred primarily during the period from 2007 through 2011, as reflected during that period by declines in the values of residential real estate and higher levels of delinquencies, defaults and losses on residential mortgages, including the mortgages underlying the Bank’s non-agency residential MBS ("RMBS"), generally increased the risk that the Bank may not ultimately recover the entire cost bases of some of its non-agency RMBS. However, based on its analysis of the securities in this portfolio, the Bank believes that the unrealized losses as of December 31, 2014 were principally the result of liquidity risk related discounts in the non-agency RMBS market and do not accurately reflect the currently likely future credit performance of the securities. | |||||||||||||||||||||||||||||||||
Because the ultimate receipt of contractual payments on the Bank’s non-agency RMBS will depend upon the credit and prepayment performance of the underlying loans and the credit enhancements for the senior securities owned by the Bank, the Bank closely monitors these investments in an effort to determine whether the credit enhancement associated with each security is sufficient to protect against potential losses of principal and interest on the underlying mortgage loans. The credit enhancement for each of the Bank’s non-agency RMBS is provided by a senior/subordinate structure, and none of the securities owned by the Bank are insured by third-party bond insurers. More specifically, each of the Bank’s non-agency RMBS represents a single security class within a securitization that has multiple classes of securities. Each security class has a distinct claim on the cash flows from the underlying mortgage loans, with the subordinate securities having a junior claim relative to the more senior securities. The Bank’s non-agency RMBS have a senior claim on the cash flows from the underlying mortgage loans. | |||||||||||||||||||||||||||||||||
To assess whether the entire amortized cost bases of its non-agency RMBS holdings are likely to be recovered, the Bank performed a cash flow analysis for each security as of the end of each calendar quarter in 2014 using two third-party models. The first model considers borrower characteristics and the particular attributes of the loans underlying the Bank’s securities, in conjunction with assumptions about future changes in home prices and interest rates, to project prepayments, defaults and loss severities. A significant input to the first model is the forecast of future housing price changes for the relevant states and core based statistical areas (“CBSAs”), which are based upon an assessment of the individual housing markets. (The term “CBSA” refers collectively to metropolitan and micropolitan statistical areas as defined by the U.S. Office of Management and Budget; as currently defined, a CBSA must contain at least one urban area of 10,000 or more people.) The Bank’s housing price forecast as of December 31, 2014 assumed changes in home prices ranging from declines of 4 percent to increases of 7 percent over the 12-month period beginning October 1, 2014. For the vast majority of markets, the changes were projected to range from declines of 1 percent to increases of 6 percent. Thereafter, home price changes for each market were projected to return (at varying rates and over varying transition periods based on historical housing price patterns) to their long-term historical equilibrium levels. Following these transition periods, the constant long-term annual rates of appreciation for the vast majority of markets were projected to range between 2 percent and 5 percent. | |||||||||||||||||||||||||||||||||
The month-by-month projections of future loan performance derived from the first model, which reflect projected prepayments, defaults and loss severities, are then input into a second model that allocates the projected loan level cash flows and losses to the various security classes in the securitization structure in accordance with its prescribed cash flow and loss allocation rules. In a securitization in which the credit enhancement for the senior securities is derived from the presence of subordinate securities, losses are generally allocated first to the subordinate securities until their principal balance is reduced to zero. | |||||||||||||||||||||||||||||||||
Based on the results of its cash flow analyses, the Bank determined it was not likely that it would fully recover the remaining amortized cost basis of one of its previously unimpaired non-agency RMBS and, accordingly, this security was deemed to be other-than-temporarily impaired as of December 31, 2014. The difference between the present value of the cash flows expected to be collected from this security and its amortized cost basis (i.e., the credit loss) totaled $37,000 at December 31, 2014. Because the Bank does not intend to sell the investment and it is not more likely than not that the Bank will be required to sell the investment before recovery of its remaining amortized cost basis, only the amount related to the credit loss was recognized in earnings. None of the Bank's other non-agency RMBS were deemed to be other-than-temporarily impaired in 2014. | |||||||||||||||||||||||||||||||||
In addition to the security that was determined to be other-than-temporarily impaired at December 31, 2014, 14 of the Bank's holdings of non-agency RMBS were determined to be other-than-temporarily impaired in periods prior to 2013. The following table sets forth additional information for each of the securities that was deemed to be other-than-temporarily impaired in 2009, 2010, 2011, 2012 and/or 2014 (in thousands). All of the Bank's non-agency RMBS are rated by Moody's, S&P and/or Fitch. The credit ratings presented in the table represent the lowest rating assigned to the security by any of these NRSROs as of December 31, 2014. | |||||||||||||||||||||||||||||||||
31-Dec-14 | Cumulative from Period of Initial Impairment Through December 31, 2014 | December 31, 2014 | |||||||||||||||||||||||||||||||
Period of | Credit Rating | Unpaid | Amortized | Non-Credit | Accretion of | Carrying | Estimated | ||||||||||||||||||||||||||
Initial | Principal | Cost | Component of | Non-Credit | Value | Fair | |||||||||||||||||||||||||||
Impairment | Balance | OTTI | Component | Value | |||||||||||||||||||||||||||||
Security #1 | Q1 2009 | Triple-C | $ | 11,950 | $ | 9,411 | $ | 10,271 | $ | 8,175 | $ | 7,315 | $ | 10,025 | |||||||||||||||||||
Security #2 | Q1 2009 | Triple-C | 11,672 | 10,972 | 12,389 | 8,907 | 7,490 | 10,443 | |||||||||||||||||||||||||
Security #3 | Q2 2009 | Single-D | 15,100 | 11,550 | 15,283 | 12,340 | 8,607 | 12,240 | |||||||||||||||||||||||||
Security #4 | Q2 2009 | Triple-C | 7,815 | 7,097 | 7,890 | 5,914 | 5,121 | 6,874 | |||||||||||||||||||||||||
Security #5 | Q3 2009 | Triple-C | 14,379 | 12,648 | 10,047 | 7,705 | 10,306 | 12,425 | |||||||||||||||||||||||||
Security #6 | Q3 2009 | Triple-C | 12,485 | 11,076 | 10,567 | 7,578 | 8,087 | 10,979 | |||||||||||||||||||||||||
Security #7 | Q3 2009 | Single-B | 4,348 | 4,267 | 3,575 | 2,462 | 3,154 | 4,012 | |||||||||||||||||||||||||
Security #8 | Q1 2010 | Single-B | 6,694 | 6,671 | 4,968 | 3,355 | 5,058 | 6,065 | |||||||||||||||||||||||||
Security #9 | Q1 2010 | Triple-C | 2,923 | 2,885 | 2,208 | 1,511 | 2,188 | 2,582 | |||||||||||||||||||||||||
Security #10 | Q4 2010 | Triple-C | 5,687 | 5,260 | 3,331 | 1,912 | 3,841 | 4,944 | |||||||||||||||||||||||||
Security #11 | Q4 2010 | Triple-C | 6,889 | 6,885 | 4,096 | 2,445 | 5,234 | 6,048 | |||||||||||||||||||||||||
Security #12 | Q4 2010 | Triple-C | 3,680 | 3,595 | 1,820 | 1,058 | 2,833 | 3,269 | |||||||||||||||||||||||||
Security #13 | Q4 2010 | Triple-C | 4,407 | 4,392 | 2,418 | 1,550 | 3,524 | 4,095 | |||||||||||||||||||||||||
Security #14 | Q2 2011 | Triple-C | 9,580 | 9,347 | 5,942 | 3,893 | 7,298 | 8,037 | |||||||||||||||||||||||||
Security #15 | Q4 2014 | Single-B | 12,527 | 12,490 | 1,349 | — | 11,141 | 11,141 | |||||||||||||||||||||||||
Totals | $ | 130,136 | $ | 118,546 | $ | 96,154 | $ | 68,805 | $ | 91,197 | $ | 113,179 | |||||||||||||||||||||
For the security for which an other-than-temporary impairment was determined to have occurred as of December 31, 2014, the following table presents a summary of the significant inputs used to measure the amount of the credit loss recognized in earnings (dollars in thousands): | |||||||||||||||||||||||||||||||||
Significant Inputs(2) | |||||||||||||||||||||||||||||||||
Year of | Collateral | Unpaid Principal Balance as of December 31, 2014 | Quarterly Period of Most Recent | Projected Prepayment | Projected Default | Projected Loss | Current Credit Enhancement as of December 31, 2014(3) | ||||||||||||||||||||||||||
Securitization | Type(1) | Impairment | Rate | Rate | Severity | ||||||||||||||||||||||||||||
Security #15 | 2005 | Alt-A/Option ARM | $ | 12,527 | Q4 2014 | 7.8 | % | 22 | % | 38.7 | % | 34.3 | % | ||||||||||||||||||||
________________________________________ | |||||||||||||||||||||||||||||||||
(1) | Although Security #15 was not labeled as Alt-A at the time of issuance, based upon its current collateral and performance characteristics, this other-than-temporarily impaired security was analyzed using Alt-A assumptions. | ||||||||||||||||||||||||||||||||
(2) | The prepayment rate reflects the weighted average of projected future voluntary prepayments. The default rate reflects the total balance of loans projected to default as a percentage of the current unpaid principal balance of the underlying loan pool. The loss severity reflects the total projected loan losses as a percentage of the total balance of loans that are projected to default. | ||||||||||||||||||||||||||||||||
(3) | The current credit enhancement percentage reflects the ability of subordinated classes of securities to absorb principal losses and interest shortfalls before the senior class held by the Bank is impacted (i.e., the losses, expressed as a percentage of the outstanding principal balances, that could be incurred in the underlying loan pool before the security held by the Bank would be impacted, assuming that all of those losses occurred on the measurement date). Depending upon the timing and amount of losses in the underlying loan pool, it is possible that the senior class held by the Bank could bear losses in scenarios where the cumulative loan losses do not exceed the current credit enhancement percentage. | ||||||||||||||||||||||||||||||||
The following table presents a rollforward for the years ended December 31, 2014, 2013 and 2012 of the amount related to credit losses on the Bank’s non-agency RMBS holdings for which a portion of an other-than-temporary impairment was recognized in other comprehensive income (in thousands). | |||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Balance of credit losses, beginning of year | $ | 12,901 | $ | 13,039 | $ | 12,679 | |||||||||||||||||||||||||||
Credit losses on securities for which an other-than-temporary impairment was not previously recognized | 37 | — | — | ||||||||||||||||||||||||||||||
Credit losses on securities for which an other-than-temporary impairment was previously recognized | — | — | 360 | ||||||||||||||||||||||||||||||
Increases in cash flows expected to be collected (accreted as interest income over the remaining lives of the applicable securities) | (426 | ) | (138 | ) | — | ||||||||||||||||||||||||||||
Balance of credit losses, end of year | 12,512 | 12,901 | 13,039 | ||||||||||||||||||||||||||||||
Cumulative principal shortfalls on securities held at end of year | (1,210 | ) | (684 | ) | — | ||||||||||||||||||||||||||||
Cumulative amortization of the time value of credit losses at end of year | 293 | 233 | 163 | ||||||||||||||||||||||||||||||
Credit losses included in the amortized cost bases of other-than-temporarily impaired securities at end of year | $ | 11,595 | $ | 12,450 | $ | 13,202 | |||||||||||||||||||||||||||
Redemption Terms. The amortized cost, carrying value and estimated fair value of held-to-maturity securities by contractual maturity at December 31, 2014 and 2013 are presented below (in thousands). The expected maturities of some debentures could differ from the contractual maturities presented because issuers may have the right to call such debentures prior to their final stated maturities. | |||||||||||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||
Maturity | Amortized Cost | Carrying Value | Estimated Fair Value | Amortized Cost | Carrying Value | Estimated Fair Value | |||||||||||||||||||||||||||
Debentures | |||||||||||||||||||||||||||||||||
Due after one year through five years | $ | 12,544 | $ | 12,544 | $ | 12,649 | $ | 16,376 | $ | 16,376 | $ | 16,502 | |||||||||||||||||||||
Due after five years through ten years | 14,575 | 14,575 | 14,613 | 8,483 | 8,483 | 8,411 | |||||||||||||||||||||||||||
Due after ten years | — | — | — | 7,830 | 7,830 | 7,746 | |||||||||||||||||||||||||||
27,119 | 27,119 | 27,262 | 32,689 | 32,689 | 32,659 | ||||||||||||||||||||||||||||
Mortgage-backed securities | 4,662,243 | 4,634,894 | 4,699,868 | 5,199,060 | 5,165,860 | 5,225,763 | |||||||||||||||||||||||||||
Total | $ | 4,689,362 | $ | 4,662,013 | $ | 4,727,130 | $ | 5,231,749 | $ | 5,198,549 | $ | 5,258,422 | |||||||||||||||||||||
The amortized cost of the Bank’s mortgage-backed securities classified as held-to-maturity includes net purchase discounts of $26,510,000 and $35,732,000 at December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||
Interest Rate Payment Terms. The following table provides interest rate payment terms for investment securities classified as held-to-maturity at December 31, 2014 and 2013 (in thousands): | |||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Amortized cost of variable-rate held-to-maturity securities other than mortgage-backed securities | $ | 27,119 | $ | 32,689 | |||||||||||||||||||||||||||||
Amortized cost of held-to-maturity mortgage-backed securities | |||||||||||||||||||||||||||||||||
Fixed-rate pass-through securities | 276 | 344 | |||||||||||||||||||||||||||||||
Collateralized mortgage obligations | |||||||||||||||||||||||||||||||||
Fixed-rate | 624 | 847 | |||||||||||||||||||||||||||||||
Variable-rate | 4,599,524 | 5,197,869 | |||||||||||||||||||||||||||||||
Variable-rate multi-family MBS | 61,819 | — | |||||||||||||||||||||||||||||||
4,662,243 | 5,199,060 | ||||||||||||||||||||||||||||||||
Total | $ | 4,689,362 | $ | 5,231,749 | |||||||||||||||||||||||||||||
All of the Bank’s variable-rate collateralized mortgage obligations classified as held-to-maturity securities have coupon rates that are subject to interest rate caps, none of which were reached during the years ended December 31, 2014 or 2013. |
Advances
Advances | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Advances [Abstract] | |||||||||||||||
Advances [Text Block] | Advances | ||||||||||||||
Redemption Terms. At December 31, 2014 and 2013, the Bank had advances outstanding at interest rates ranging from 0.05 percent to 8.48 percent and 0.05 percent to 8.61 percent, respectively, as summarized below (dollars in thousands). | |||||||||||||||
2014 | 2013 | ||||||||||||||
Contractual Maturity | Amount | Weighted | Amount | Weighted | |||||||||||
Average | Average | ||||||||||||||
Interest Rate | Interest Rate | ||||||||||||||
Overdrawn demand deposit accounts | $ | 79,477 | 4.04 | % | $ | 3,499 | 4.07 | % | |||||||
Due in one year or less | 11,908,892 | 0.31 | 8,343,704 | 0.34 | |||||||||||
Due after one year through two years | 1,085,057 | 1.46 | 1,386,230 | 1.78 | |||||||||||
Due after two years through three years | 1,590,017 | 2.39 | 822,497 | 1.79 | |||||||||||
Due after three years through four years | 1,085,640 | 2.4 | 1,376,579 | 2.9 | |||||||||||
Due after four years through five years | 417,243 | 2.22 | 1,075,960 | 2.43 | |||||||||||
Due after five years | 901,184 | 2.99 | 789,625 | 3.14 | |||||||||||
Amortizing advances | 1,727,505 | 3.45 | 1,997,270 | 3.64 | |||||||||||
Total par value | 18,795,015 | 1.14 | % | 15,795,364 | 1.46 | % | |||||||||
Deferred prepayment fees | (17,903 | ) | (15,916 | ) | |||||||||||
Commitment fees | (139 | ) | (111 | ) | |||||||||||
Hedging adjustments | 165,427 | 199,608 | |||||||||||||
Total | $ | 18,942,400 | $ | 15,978,945 | |||||||||||
The balances of overdrawn demand deposit accounts were fully collateralized at December 31, 2014 and 2013 and were repaid at the beginning of 2015 and 2014, respectively. Amortizing advances require repayment according to predetermined amortization schedules. | |||||||||||||||
The Bank offers advances to members that may be prepaid on specified dates without the member incurring prepayment or termination fees (prepayable and callable advances). The prepayment of other advances requires the payment of a fee to the Bank (prepayment fee) if necessary to make the Bank financially indifferent to the prepayment of the advance. At December 31, 2014 and 2013, the Bank had aggregate prepayable and callable advances totaling $487,699,000 and $106,304,000, respectively. | |||||||||||||||
The following table summarizes advances outstanding at December 31, 2014 and December 31, 2013, by the earlier of contractual maturity or next call date, or the first date on which prepayable advances can be repaid without a prepayment fee (in thousands): | |||||||||||||||
Contractual Maturity or Next Call Date | 31-Dec-14 | 31-Dec-13 | |||||||||||||
Overdrawn demand deposit accounts | $ | 79,477 | $ | 3,499 | |||||||||||
Due in one year or less | 11,993,262 | 8,343,704 | |||||||||||||
Due after one year through two years | 1,053,687 | 1,386,230 | |||||||||||||
Due after two years through three years | 1,590,017 | 822,497 | |||||||||||||
Due after three years through four years | 1,085,640 | 1,376,579 | |||||||||||||
Due after four years through five years | 414,243 | 1,075,960 | |||||||||||||
Due after five years | 851,184 | 789,625 | |||||||||||||
Amortizing advances | 1,727,505 | 1,997,270 | |||||||||||||
Total par value | $ | 18,795,015 | $ | 15,795,364 | |||||||||||
The Bank also offers putable advances. With a putable advance, the Bank purchases a put option from the member that allows the Bank to terminate the fixed-rate advance on specified dates and offer, subject to certain conditions, replacement funding at prevailing market rates. At December 31, 2014 and 2013, the Bank had putable advances outstanding totaling $1,454,071,000 and $1,653,471,000, respectively. | |||||||||||||||
The following table summarizes advances at December 31, 2014 and 2013, by the earlier of contractual maturity or next possible put date (in thousands): | |||||||||||||||
Contractual Maturity or Next Put Date | 2014 | 2013 | |||||||||||||
Overdrawn demand deposit accounts | $ | 79,477 | $ | 3,499 | |||||||||||
Due in one year or less | 13,258,963 | 9,961,774 | |||||||||||||
Due after one year through two years | 1,062,557 | 1,230,230 | |||||||||||||
Due after two years through three years | 990,896 | 799,997 | |||||||||||||
Due after three years through four years | 397,190 | 677,459 | |||||||||||||
Due after four years through five years | 377,243 | 375,510 | |||||||||||||
Due after five years | 901,184 | 749,625 | |||||||||||||
Amortizing advances | 1,727,505 | 1,997,270 | |||||||||||||
Total par value | $ | 18,795,015 | $ | 15,795,364 | |||||||||||
Credit Concentrations. Due to the composition of its shareholders, the Bank’s potential credit risk from advances is concentrated in commercial banks and savings institutions. As of December 31, 2013 and 2012, the Bank had advances of $1,000,000,000 and $2,000,000,000, respectively, outstanding to its largest borrower (at those dates), Comerica Bank, which represented approximately 6 percent and 11 percent, respectively, of total advances outstanding at each of those dates. Comerica Bank did not have any advances outstanding at December 31, 2014. The interest income from advances to Comerica Bank totaled $905,000, $3,934,000 and $6,723,000 during the years ended December 31, 2014, 2013 and 2012, respectively. There were no prepayment fees recognized in earnings related to prepaid advances from Comerica Bank during the years ended December 31, 2014, 2013 or 2012. No other borrower represented more than 10 percent of advances outstanding at December 31, 2014, 2013 or 2012. | |||||||||||||||
Interest Rate Payment Terms. The following table provides interest rate payment terms for advances outstanding at December 31, 2014 and 2013 (in thousands): | |||||||||||||||
2014 | 2013 | ||||||||||||||
Fixed-rate | |||||||||||||||
Due in one year or less | $ | 11,573,066 | $ | 7,352,066 | |||||||||||
Due after one year | 6,694,902 | 7,390,799 | |||||||||||||
Total fixed-rate | 18,267,968 | 14,742,865 | |||||||||||||
Variable-rate | |||||||||||||||
Due in one year or less | 426,477 | 1,008,499 | |||||||||||||
Due after one year | 100,570 | 44,000 | |||||||||||||
Total variable-rate | 527,047 | 1,052,499 | |||||||||||||
Total par value | $ | 18,795,015 | $ | 15,795,364 | |||||||||||
At December 31, 2014 and 2013, 27 percent and 33 percent, respectively, of the Bank’s fixed-rate advances were swapped to a variable rate. | |||||||||||||||
Prepayment Fees. When a member/borrower prepays an advance, the Bank could suffer lower future income if the principal portion of the prepaid advance is reinvested in lower-yielding assets. To protect against this risk, the Bank generally charges a prepayment fee that makes it financially indifferent to a borrower’s decision to prepay an advance. As discussed in Note 1, the Bank records prepayment fees received from members/borrowers on prepaid advances net of any associated hedging adjustments on those advances. Gross advance prepayment fees received from members/borrowers during the years ended December 31, 2014, 2013 and 2012 were $26,035,000, $92,037,000 and $33,044,000, respectively. During the years ended December 31, 2014, 2013 and 2012, the Bank deferred $5,835,000, $1,449,000 and $1,223,000 of these gross advance prepayment fees. |
Mortgage_Loans_Held_for_Portfo
Mortgage Loans Held for Portfolio | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Mortgage Loans Held for Portfolio [Abstract] | ||||||||
Mortgage Loans on Real Estate, by Loan Disclosure [Text Block] | Mortgage Loans Held for Portfolio | |||||||
Mortgage loans held for portfolio represent held-for-investment loans acquired through the MPF program (see Note 1). The following table presents information as of December 31, 2014 and 2013 for mortgage loans held for portfolio (in thousands): | ||||||||
2014 | 2013 | |||||||
Fixed-rate medium-term* single-family mortgages | $ | 9,332 | $ | 15,613 | ||||
Fixed-rate long-term single-family mortgages | 61,838 | 75,137 | ||||||
Premiums | 473 | 639 | ||||||
Discounts | (89 | ) | (114 | ) | ||||
Total mortgage loans held for portfolio | $ | 71,554 | $ | 91,275 | ||||
________________________________________ | ||||||||
*Medium-term is defined as an original term of 15 years or less. | ||||||||
The unpaid principal balance of mortgage loans held for portfolio at December 31, 2014 and 2013 was comprised of government-guaranteed/insured loans totaling $37,404,000 and $47,102,000, respectively, and conventional loans totaling $33,766,000 and $43,648,000, respectively. | ||||||||
PFIs are paid a credit enhancement fee (“CE fee”) as an incentive to minimize credit losses, to share in the risk of loss on MPF loans and to pay for supplemental mortgage insurance, rather than paying a guaranty fee to other secondary market purchasers. CE fees are paid monthly and are determined based on the remaining unpaid principal balance of the MPF loans. The required credit enhancement obligation varies depending upon the MPF product type. CE fees, payable to a PFI as compensation for assuming credit risk, are recorded as a reduction to mortgage loan interest income when paid by the Bank. During the years ended December 31, 2014, 2013 and 2012, mortgage loan interest income was reduced by CE fees totaling $26,000, $36,000 and $55,000, respectively. The Bank also pays performance-based CE fees that are based on the actual performance of the pool of MPF loans under each individual master commitment. To the extent that losses in the current month exceed accrued performance-based CE fees, the remaining losses may be recovered from future performance-based CE fees payable to the PFI. During the years ended December 31, 2014, 2013 and 2012, performance-based CE fees that were forgone and not paid to the Bank’s PFIs totaled $24,000, $31,000 and $36,000, respectively. |
Allowance_for_Credit_Losses
Allowance for Credit Losses | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Allowance for Credit Losses [Abstract] | ||||||||||||||||||||||||
Allowance for Credit Losses [Text Block] | Allowance for Credit Losses | |||||||||||||||||||||||
The Bank has established an allowance methodology for each of its portfolio segments: advances and other extensions of credit to members/borrowers, collectively referred to as "extensions of credit to members"; government-guaranteed/insured mortgage loans held for portfolio; and conventional mortgage loans held for portfolio. | ||||||||||||||||||||||||
Advances and Other Extensions of Credit to Members. In accordance with federal statutes, including the FHLB Act, the Bank lends to financial institutions within its five-state district that are involved in housing finance. The FHLB Act requires the Bank to obtain and maintain sufficient collateral for advances and other extensions of credit to protect against losses. The Bank makes advances and otherwise extends credit only against eligible collateral, as defined by regulation. Eligible collateral includes whole first mortgages on improved residential real property (not more than 90 days delinquent), or securities representing a whole interest in such mortgages; securities issued, insured, or guaranteed by the U.S. government or any of its agencies, including mortgage-backed and other debt securities issued or guaranteed by the Federal National Mortgage Association (“Fannie Mae”), the Federal Home Loan Mortgage Corporation (“Freddie Mac”), or the Government National Mortgage Association (“Ginnie Mae”); term deposits in the Bank; and other real estate-related collateral acceptable to the Bank, provided that such collateral has a readily ascertainable value and the Bank can perfect a security interest in such property. In the case of Community Financial Institutions (which for 2014 included all FDIC-insured institutions with average total assets as of December 31, 2013, 2012 and 2011 of less than $1.108 billion), the Bank may also accept as eligible collateral secured small business, small farm and small agribusiness loans, securities representing a whole interest in such loans, and secured loans for community development activities. To ensure the value of collateral pledged to the Bank is sufficient to secure its advances and other extensions of credit, the Bank applies various haircuts, or discounts, to the collateral to determine the value against which borrowers may borrow. As additional security, the Bank has a statutory lien on each borrower’s capital stock in the Bank. | ||||||||||||||||||||||||
Each member/borrower of the Bank executes a security agreement pursuant to which such member/borrower grants a security interest in favor of the Bank in certain assets of such member/borrower. The agreements under which a member grants a security interest fall into one of two general structures. In the first structure, the member grants a security interest in all of its assets that are included in the eligible collateral categories, as described in the preceding paragraph, which the Bank refers to as a “blanket lien.” A member may request that its blanket lien be modified, such that the member grants in favor of the Bank a security interest limited to certain of the eligible collateral categories (i.e., whole first residential mortgages, securities, term deposits in the Bank and other real estate-related collateral). In the second structure, the member grants a security interest in specifically identified assets rather than in the broad categories of eligible collateral covered by the blanket lien and the Bank identifies such members as being on “specific collateral only status.” | ||||||||||||||||||||||||
The basis upon which the Bank will lend to a member that has granted the Bank a blanket lien depends on numerous factors, including, among others, that member’s financial condition and general creditworthiness. Generally, and subject to certain limitations, a member that has granted the Bank a blanket lien may borrow up to a specified percentage of the value of eligible collateral categories, as determined from such member’s financial reports filed with its federal regulator, without specifically identifying each item of collateral or delivering the collateral to the Bank. Under certain circumstances, including, among others, a deterioration of a member’s financial condition or general creditworthiness, the amount a member may borrow is determined on the basis of only that portion of the collateral subject to the blanket lien that such member delivers to the Bank. Under these circumstances, the Bank places the member on “custody status.” In addition, members on blanket lien status may choose to deliver some or all of the collateral to the Bank. | ||||||||||||||||||||||||
The members/borrowers that are granted specific collateral only status by the Bank are generally either insurance companies or members/borrowers with an investment grade credit rating from an NRSRO that have requested this type of structure. Insurance companies are permitted to borrow only against the eligible collateral that is delivered to the Bank or a third-party custodian approved by the Bank, and insurance companies generally grant a security interest only in collateral they have delivered. Members/borrowers with an investment grade credit rating from an NRSRO may grant a security interest in, and would only be permitted to borrow against, delivered eligible securities and specifically identified, eligible first-lien mortgage loans. Such loans must be delivered to the Bank or a third-party custodian approved by the Bank, or the Bank and such member/borrower must otherwise take actions that ensure the priority of the Bank’s security interest in such loans. Investment grade rated members/borrowers that choose this option are subject to fewer provisions that allow the Bank to demand additional collateral or exercise other remedies based on the Bank’s discretion; however, the collateral they pledge is generally subject to larger haircuts (depending on the credit rating of the member/borrower from time to time) than are applied to similar types of collateral pledged by members under a blanket lien arrangement. | ||||||||||||||||||||||||
The Bank perfects its security interests in borrowers’ collateral in a number of ways. The Bank usually perfects its security interest in collateral by filing a Uniform Commercial Code financing statement against the borrower. In the case of certain borrowers, the Bank perfects its security interest by taking possession or control of the collateral, which may be in addition to the filing of a financing statement. In these cases, the Bank also generally takes assignments of most of the mortgages and deeds of trust that are designated as collateral. Instead of requiring delivery of the collateral to the Bank, the Bank may allow certain borrowers to deliver specific collateral to a third-party custodian approved by the Bank or otherwise take actions that ensure the priority of the Bank’s security interest in such collateral. | ||||||||||||||||||||||||
With certain exceptions set forth below, Section 10(e) of the FHLB Act affords any security interest granted to the Bank by any member/borrower of the Bank, or any affiliate of any such member/borrower, priority over the claims and rights of any party, including any receiver, conservator, trustee, or similar party having rights of a lien creditor. However, the Bank’s security interest is not entitled to priority over the claims and rights of a party that (i) would be entitled to priority under otherwise applicable law and (ii) is an actual bona fide purchaser for value or is a secured party who has a perfected security interest in such collateral in accordance with applicable law (e.g., a prior perfected security interest under the Uniform Commercial Code or other applicable law). For example, in a case in which the Bank has perfected its security interest in collateral by filing a Uniform Commercial Code financing statement against the borrower, another secured party’s security interest in that same collateral that was perfected by possession and without prior knowledge of the Bank's lien may be entitled to priority over the Bank’s security interest that was perfected by filing a Uniform Commercial Code financing statement. | ||||||||||||||||||||||||
From time to time, the Bank agrees to subordinate its security interest in certain assets or categories of assets granted by a member/borrower of the Bank to the security interest of another creditor (typically, a Federal Reserve Bank or another FHLBank). If the Bank agrees to subordinate its security interest in certain assets or categories of assets granted by a member/borrower of the Bank to the security interest of another creditor, the Bank will not extend credit against those assets or categories of assets. | ||||||||||||||||||||||||
On at least a quarterly basis, the Bank evaluates all outstanding extensions of credit to members/borrowers for potential credit losses. These evaluations include a review of: (1) the amount, type and performance of collateral available to secure the outstanding obligations; (2) metrics that may be indicative of changes in the financial condition and general creditworthiness of the member/borrower; and (3) the payment status of the obligations. Any outstanding extensions of credit that exhibit a potential credit weakness that could jeopardize the full collection of the outstanding obligations would be classified as substandard, doubtful or loss. The Bank did not have any advances or other extensions of credit to members/borrowers that were classified as substandard, doubtful or loss at December 31, 2014 or 2013. | ||||||||||||||||||||||||
The Bank considers the amount, type and performance of collateral to be the primary indicator of credit quality with respect to its extensions of credit to members/borrowers. At December 31, 2014 and 2013, the Bank had rights to collateral on a borrower-by-borrower basis with an estimated value in excess of each borrower’s outstanding extensions of credit. | ||||||||||||||||||||||||
The Bank continues to evaluate and, as necessary, modify its credit extension and collateral policies based on market conditions. At December 31, 2014 and 2013, the Bank did not have any advances that were past due, on nonaccrual status, or considered impaired. There have been no troubled debt restructurings related to advances. | ||||||||||||||||||||||||
The Bank has never experienced a credit loss on an advance or any other extension of credit to a member/borrower and, based on its credit extension and collateral policies, management currently does not anticipate any credit losses on its extensions of credit to members/borrowers. Accordingly, the Bank has not provided any allowance for credit losses on advances, nor has it recorded any liabilities to reflect an allowance for credit losses related to its off-balance sheet credit exposures. | ||||||||||||||||||||||||
Mortgage Loans — Government-guaranteed/Insured. The Bank’s government-guaranteed/insured fixed-rate mortgage loans are insured or guaranteed by the FHA or the DVA. Any losses from these loans are expected to be recovered from those entities. Any losses from these loans that are not recovered from those entities are absorbed by the servicers. Therefore, the Bank has not established an allowance for credit losses on government-guaranteed/insured mortgage loans. | ||||||||||||||||||||||||
Mortgage Loans — Conventional Mortgage Loans. The allowance for losses on conventional mortgage loans is determined by an analysis that includes consideration of various data such as past performance, current performance, loan portfolio characteristics, collateral-related characteristics and prevailing economic conditions. The allowance for losses on conventional mortgage loans also factors in the credit enhancement under the MPF program. Any incurred losses that are expected to be recovered from the credit enhancements are not reserved as part of the Bank’s allowance for loan losses. | ||||||||||||||||||||||||
The Bank considers the key credit quality indicator for conventional mortgage loans to be the payment status of each loan. The table below summarizes the unpaid principal balance by payment status for mortgage loans at December 31, 2014 and 2013 (dollars in thousands). The unpaid principal balance approximates the recorded investment in the loans. | ||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Conventional Loans | Government- | Total | Conventional Loans | Government- | Total | |||||||||||||||||||
Guaranteed/ | Guaranteed/ | |||||||||||||||||||||||
Insured Loans | Insured Loans | |||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||
30-59 days delinquent | $ | 1,409 | $ | 2,276 | $ | 3,685 | $ | 973 | $ | 3,390 | $ | 4,363 | ||||||||||||
60-89 days delinquent | 531 | 400 | 931 | 406 | 712 | 1,118 | ||||||||||||||||||
90 days or more delinquent | 316 | 299 | 615 | 694 | 253 | 947 | ||||||||||||||||||
Total past due | 2,256 | 2,975 | 5,231 | 2,073 | 4,355 | 6,428 | ||||||||||||||||||
Total current loans | 31,510 | 34,429 | 65,939 | 41,575 | 42,747 | 84,322 | ||||||||||||||||||
Total mortgage loans | $ | 33,766 | $ | 37,404 | $ | 71,170 | $ | 43,648 | $ | 47,102 | $ | 90,750 | ||||||||||||
Other delinquency statistics: | ||||||||||||||||||||||||
In process of foreclosure(1) | $ | 79 | $ | — | $ | 79 | $ | 426 | $ | 21 | $ | 447 | ||||||||||||
Serious delinquency rate (2) | 0.9 | % | 0.8 | % | 0.9 | % | 1.6 | % | 0.5 | % | 1 | % | ||||||||||||
Past due 90 days or more and still accruing interest (3) | $ | — | $ | 299 | $ | 299 | $ | — | $ | 253 | $ | 253 | ||||||||||||
Nonaccrual loans | $ | 316 | $ | — | $ | 316 | $ | 694 | $ | — | $ | 694 | ||||||||||||
Troubled debt restructurings | $ | 116 | $ | — | $ | 116 | $ | 143 | $ | — | $ | 143 | ||||||||||||
________________________________________ | ||||||||||||||||||||||||
(1) | Includes loans where the decision of foreclosure or similar alternative such as pursuit of deed-in-lieu has been made. | |||||||||||||||||||||||
(2) | Loans that are 90 days or more past due or in the process of foreclosure expressed as a percentage of the loan portfolio. | |||||||||||||||||||||||
(3) | Only government-guaranteed/insured mortgage loans continue to accrue interest after they become 90 days or more past due. | |||||||||||||||||||||||
At December 31, 2014 and 2013, the Bank’s other assets included $193,000 and $212,000, respectively, of real estate owned. | ||||||||||||||||||||||||
Mortgage loans are considered impaired when, based upon current information and events, it is probable that the Bank will be unable to collect all principal and interest amounts due according to the contractual terms of the mortgage loan agreement. Each nonaccrual mortgage loan and each troubled debt restructuring is specifically reviewed for impairment. At December 31, 2014 and 2013, the estimated value of the collateral securing each of these loans was in excess of the outstanding loan amount. Therefore, no specific reserve was established for any of these mortgage loans. The remaining conventional mortgage loans were evaluated for impairment on a pool basis. Based upon the current and past performance of these loans, the underwriting standards in place at the time the loans were acquired, and current economic conditions, the Bank determined that an allowance for loan losses of $143,000 was adequate to reserve for credit losses in its conventional mortgage loan portfolio at December 31, 2014. The following table presents the activity in the allowance for credit losses on conventional mortgage loans held for portfolio during the years ended December 31, 2014, 2013 and 2012 (in thousands): | ||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Balance, beginning of year | $ | 165 | $ | 183 | $ | 192 | ||||||||||||||||||
Chargeoffs | (22 | ) | (18 | ) | (9 | ) | ||||||||||||||||||
Balance, end of year | $ | 143 | $ | 165 | $ | 183 | ||||||||||||||||||
The following table presents information regarding the balances of the Bank's conventional mortgage loans held for portfolio that were individually or collectively evaluated for impairment as well as information regarding the ending balance of the allowance for credit losses as of December 31, 2014 and 2013 (in thousands). | ||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Ending balance of allowance for credit losses related to loans collectively evaluated for impairment | $ | 143 | $ | 165 | ||||||||||||||||||||
Unpaid principal balance | ||||||||||||||||||||||||
Individually evaluated for impairment | $ | 432 | $ | 816 | ||||||||||||||||||||
Collectively evaluated for impairment | 33,334 | 42,832 | ||||||||||||||||||||||
$ | 33,766 | $ | 43,648 | |||||||||||||||||||||
Deposits
Deposits | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Deposits [Abstract] | ||||||||
Deposits Liabilities Disclosures [Text Block] | Deposits | |||||||
The Bank offers demand and overnight deposits for members and qualifying non-members. In addition, the Bank offers short-term interest-bearing deposit programs to members and qualifying non-members. Interest-bearing deposits classified as demand and overnight pay interest based on a daily interest rate. Term deposits pay interest based on a fixed rate that is determined on the issuance date of the deposit. The weighted average interest rates paid on average outstanding deposits were 0.01 percent, 0.01 percent and 0.03 percent during 2014, 2013 and 2012, respectively. For additional information regarding other interest-bearing deposits, see Note 13. | ||||||||
The following table details interest-bearing and non-interest bearing deposits as of December 31, 2014 and 2013 (in thousands): | ||||||||
2014 | 2013 | |||||||
Interest-bearing | ||||||||
Demand and overnight | $ | 698,136 | $ | 790,053 | ||||
Term | 99,254 | 95,585 | ||||||
Non-interest bearing (other) | 24 | 29 | ||||||
Total deposits | $ | 797,414 | $ | 885,667 | ||||
The aggregate amount of time deposits with a denomination of $250,000 or more was $98,850,000 and $95,375,000 as of December 31, 2014 and 2013, respectively. |
Consolidated_Obligations
Consolidated Obligations | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||
Debt Disclosure [Text Block] | Consolidated Obligations | ||||||||||||||
Consolidated obligations are the joint and several obligations of the FHLBanks and consist of consolidated obligation bonds and discount notes. Consolidated obligations are backed only by the financial resources of the 12 FHLBanks. Consolidated obligations are not obligations of, nor are they guaranteed by, the U.S. government. The FHLBanks issue consolidated obligations through the Office of Finance as their agent. In connection with each debt issuance, one or more of the FHLBanks specifies the amount of debt it wants issued on its behalf; the Bank receives the proceeds of only the debt issued on its behalf and records on its statements of condition only that portion of the consolidated obligations for which it has received the proceeds. The Finance Agency and the U.S. Secretary of the Treasury have oversight over the issuance of FHLBank debt through the Office of Finance. Consolidated obligation bonds are issued primarily to raise intermediate- and long-term funds for the FHLBanks and are not subject to any statutory or regulatory limits on maturity. Consolidated obligation discount notes are issued to raise short-term funds and have maturities of one year or less. These notes are generally issued at a price that is less than their face amount and are redeemed at par value when they mature. For additional information regarding the FHLBanks’ joint and several liability on consolidated obligations, see Note 17. | |||||||||||||||
The par amounts of the 12 FHLBanks’ outstanding consolidated obligations, including consolidated obligations held as investments by other FHLBanks, were approximately $847 billion and $767 billion at December 31, 2014 and 2013, respectively. The Bank was the primary obligor on $35.2 billion and $27.6 billion (at par value), respectively, of these consolidated obligations. Regulations require each of the FHLBanks to maintain unpledged qualifying assets equal to its participation in the consolidated obligations outstanding. Qualifying assets are defined as cash; secured advances; obligations of or fully guaranteed by the U.S. government; obligations, participations, mortgages, or other instruments of or issued by Fannie Mae or Ginnie Mae; mortgages, obligations or other securities which are or have ever been sold by Freddie Mac under the FHLB Act; and such securities as fiduciary and trust funds may invest in under the laws of the state in which the FHLBank is located. Any assets subject to a lien or pledge for the benefit of holders of any issue of consolidated obligations are treated as if they were free from lien or pledge for purposes of compliance with these regulations. | |||||||||||||||
General Terms. Consolidated obligation bonds are issued with either fixed-rate coupon payment terms or variable-rate coupon payment terms that use a variety of indices for interest rate resets such as LIBOR or the federal funds rate. To meet the specific needs of certain investors in consolidated obligations, both fixed-rate bonds and variable-rate bonds may contain complex coupon payment terms and call options. When such consolidated obligations are issued, the Bank generally enters into interest rate exchange agreements containing offsetting features that effectively convert the terms of the bond to those of a simple variable-rate bond. | |||||||||||||||
The consolidated obligation bonds typically issued by the Bank, beyond having fixed-rate or simple variable-rate coupon payment terms, may also have the following broad terms regarding either principal repayment or coupon payment terms: | |||||||||||||||
Optional principal redemption bonds (callable bonds) may be redeemed in whole or in part at the Bank's discretion on predetermined call dates according to the terms of the bond offerings; | |||||||||||||||
Capped floating rate bonds pay interest at variable rates subject to an interest rate ceiling; | |||||||||||||||
Step-up bonds pay interest at increasing fixed rates for specified intervals over the life of the bond. These bonds generally contain provisions that enable the Bank to call the bonds at its option on predetermined call dates; | |||||||||||||||
Conversion bonds have coupons that convert from fixed to variable, or from variable to fixed, on predetermined dates; | |||||||||||||||
Step-down bonds pay interest at decreasing fixed rates for specified intervals over the life of the bond. These bonds generally contain provisions that enable the Bank to call the bonds at its option on predetermined call dates. | |||||||||||||||
Interest Rate Payment Terms. The following table summarizes the Bank’s consolidated obligation bonds outstanding by interest rate payment terms at December 31, 2014 and 2013 (in thousands, at par value). | |||||||||||||||
2014 | 2013 | ||||||||||||||
Fixed-rate | $ | 8,377,640 | $ | 12,857,160 | |||||||||||
Variable-rate | 4,471,000 | 6,021,000 | |||||||||||||
Step-up | 3,112,500 | 2,585,000 | |||||||||||||
Step-down | 150,000 | 125,000 | |||||||||||||
Total par value | $ | 16,111,140 | $ | 21,588,160 | |||||||||||
At both December 31, 2014 and 2013, 86 percent of the Bank’s fixed-rate consolidated obligation bonds were swapped to a variable rate. | |||||||||||||||
Redemption Terms. The following is a summary of the Bank’s consolidated obligation bonds outstanding at December 31, 2014 and 2013, by contractual maturity (dollars in thousands): | |||||||||||||||
2014 | 2013 | ||||||||||||||
Contractual Maturity | Amount | Weighted | Amount | Weighted | |||||||||||
Average | Average | ||||||||||||||
Interest Rate | Interest Rate | ||||||||||||||
Due in one year or less | $ | 6,225,840 | 0.58 | % | $ | 11,262,745 | 0.79 | % | |||||||
Due after one year through two years | 2,790,080 | 1.19 | 4,370,840 | 0.78 | |||||||||||
Due after two years through three years | 1,537,000 | 0.95 | 1,280,000 | 1.96 | |||||||||||
Due after three years through four years | 1,847,000 | 1.94 | 425,000 | 1.03 | |||||||||||
Due after four years through five years | 1,172,500 | 1.49 | 1,262,000 | 2.2 | |||||||||||
Due after five years | 2,538,720 | 2.06 | 2,987,575 | 1.88 | |||||||||||
Total par value | 16,111,140 | 1.18 | % | 21,588,160 | 1.09 | % | |||||||||
Premiums | 6,345 | 34,241 | |||||||||||||
Discounts | (3,486 | ) | (4,650 | ) | |||||||||||
Hedging adjustments | (35,299 | ) | (131,039 | ) | |||||||||||
Total | $ | 16,078,700 | $ | 21,486,712 | |||||||||||
At December 31, 2014 and 2013, the Bank’s consolidated obligation bonds outstanding included the following (in thousands, at par value): | |||||||||||||||
2014 | 2013 | ||||||||||||||
Non-callable bonds | $ | 8,504,920 | $ | 16,780,585 | |||||||||||
Callable bonds | 7,606,220 | 4,807,575 | |||||||||||||
Total par value | $ | 16,111,140 | $ | 21,588,160 | |||||||||||
The following table summarizes the Bank’s consolidated obligation bonds outstanding at December 31, 2014 and 2013, by the earlier of contractual maturity or next possible call date (in thousands, at par value): | |||||||||||||||
Contractual Maturity or Next Call Date | 2014 | 2013 | |||||||||||||
Due in one year or less | $ | 13,772,060 | $ | 15,930,320 | |||||||||||
Due after one year through two years | 1,645,080 | 4,365,840 | |||||||||||||
Due after two years through three years | 152,000 | 715,000 | |||||||||||||
Due after three years through four years | 437,000 | 50,000 | |||||||||||||
Due after four years through five years | 25,000 | 422,000 | |||||||||||||
Due after five years | 80,000 | 105,000 | |||||||||||||
Total par value | $ | 16,111,140 | $ | 21,588,160 | |||||||||||
Discount Notes. At December 31, 2014 and 2013, the Bank’s consolidated obligation discount notes, all of which are due within one year, were as follows (dollars in thousands): | |||||||||||||||
Book Value | Par Value | Weighted | |||||||||||||
Average Implied | |||||||||||||||
Interest Rate | |||||||||||||||
December 31, 2014 | $ | 19,131,832 | $ | 19,134,303 | 0.09 | % | |||||||||
December 31, 2013 | $ | 5,984,530 | $ | 5,985,100 | 0.09 | % | |||||||||
None of the Bank's consolidated obligation discount notes were swapped at December 31, 2014 or 2013. |
Affordable_Housing_Program
Affordable Housing Program | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Affordable Housing Program [Abstract] | ||||||||||||
Affordable Housing Program [Text Block] | Affordable Housing Program | |||||||||||
Section 10(j) of the FHLB Act requires each FHLBank to establish an AHP. Each FHLBank provides subsidies in the form of direct grants and/or below market interest rate advances to members who use the funds to assist with the purchase, construction, or rehabilitation of housing for very low-, low-, and moderate-income households. The Bank provides subsidies under its AHP solely in the form of direct grants. Annually, each FHLBank must set aside for the AHP 10 percent of its current year’s income before charges for AHP (as adjusted for interest expense on mandatorily redeemable capital stock), subject to a collective minimum contribution for all 12 FHLBanks of $100 million. The exclusion of interest expense on mandatorily redeemable capital stock is required pursuant to a Finance Agency regulatory interpretation. If the result of the aggregate 10 percent calculation is less than $100 million for all 12 FHLBanks, then the FHLB Act requires the shortfall to be allocated among the FHLBanks based on the ratio of each FHLBank’s income before AHP to the sum of the income before AHP of all 12 FHLBanks provided, however, that each FHLBank’s required annual AHP contribution is limited to its annual net earnings. There was no shortfall during the years ended December 31, 2014, 2013 or 2012. If a FHLBank determines that its required contributions are contributing to its financial instability, it may apply to the Finance Agency for a temporary suspension of its AHP contributions. No FHLBank applied for a suspension of its AHP contributions in 2014, 2013 or 2012. | ||||||||||||
The Bank’s AHP assessment is derived by adding interest expense on mandatorily redeemable capital stock (see Note 14) to reported income before assessments; the result of this calculation is then multiplied by 10 percent. The Bank charges the amount set aside for AHP to income and recognizes it as a liability. The Bank relieves the AHP liability as members receive AHP grants. If the Bank experiences a loss during a calendar quarter but still has income for the calendar year, the Bank’s obligation to the AHP is based upon its year-to-date income. In years where the Bank’s income before assessments (as adjusted for interest expense on mandatorily redeemable capital stock) is zero or less, the amount of the AHP assessment is typically equal to zero, and the Bank would not typically be entitled to a credit that could be used to reduce required contributions in future years. | ||||||||||||
The following table summarizes the changes in the Bank’s AHP liability during the years ended December 31, 2014, 2013 and 2012 (in thousands): | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Balance, beginning of year | $ | 31,864 | $ | 29,620 | $ | 32,313 | ||||||
AHP assessment | 5,391 | 9,766 | 9,090 | |||||||||
Grants funded, net of recaptured amounts | (11,257 | ) | (7,522 | ) | (11,783 | ) | ||||||
Balance, end of year | $ | 25,998 | $ | 31,864 | $ | 29,620 | ||||||
Assets_and_Liabilities_Subject
Assets and Liabilities Subject to Offsetting | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Assets and Liabilities Subject to Offsetting [Abstract] | |||||||||||||||||||||
Assets and Liabilities Subject to Offsetting [Text Block] | Assets and Liabilities Subject to Offsetting | ||||||||||||||||||||
The Bank has derivatives and securities purchased under agreements to resell that are subject to enforceable master netting agreements or similar arrangements. For purposes of reporting derivative assets and derivative liabilities, the Bank offsets the fair value amounts recognized for derivative instruments (including the right to reclaim cash collateral and the obligation to return cash collateral) where a legally enforceable right of setoff exists. The Bank did not have any liabilities that were eligible to offset its securities purchased under agreements to resell (i.e., securities sold under agreements to repurchase) as of December 31, 2014. | |||||||||||||||||||||
The Bank's derivative transactions are executed either bilaterally or, if required on and after June 10, 2013, cleared through a third-party central clearinghouse. The Bank has entered into master agreements with each of its bilateral derivative counterparties that provide for the netting of all transactions with each of these counterparties. Under its master agreements with its non-member bilateral derivative counterparties, collateral is delivered (or returned) daily when certain thresholds (ranging from $100,000 to $500,000) are met. The Bank offsets the fair value amounts recognized for bilaterally traded derivatives executed with the same counterparty, including any cash collateral remitted to or received from the counterparty. When entering into derivative transactions with its members, the Bank requires the member to post eligible collateral in an amount equal to the sum of the net market value of the member’s derivative transactions with the Bank (if the value is positive to the Bank) plus a percentage of the notional amount of any interest rate swaps, with market values determined on at least a monthly basis. Eligible collateral for derivative transactions with members consists of collateral that is eligible to secure advances and other obligations under the member's Advances and Security Agreement with the Bank. The Bank is not required to pledge collateral to its members to secure derivative positions. For cleared derivatives, all transactions with each clearing member of each clearinghouse are netted pursuant to legally enforceable setoff rights. Cleared derivatives are subject to initial and variation margin requirements established by the clearinghouse and its clearing members. Collateral associated with cleared derivatives (i.e., initial and variation margin) is delivered (or returned) daily and is not subject to any maximum unsecured thresholds. The Bank offsets the fair value amounts recognized for cleared derivatives transacted with each clearing member of each clearinghouse, including cash collateral pledged or received. | |||||||||||||||||||||
The following table presents derivative instruments and securities purchased under agreements to resell with the legal right of offset, including the related collateral received from or pledged to counterparties as of December 31, 2014 and 2013 (in thousands). | |||||||||||||||||||||
Gross Amounts of Recognized Financial Instruments | Gross Amounts Offset in the Statement of Condition | Net Amounts Presented in the Statement of Condition | Collateral Not Offset in the Statement of Condition (1) | Net Unsecured Amount | |||||||||||||||||
31-Dec-14 | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Derivatives | |||||||||||||||||||||
Bilateral derivatives | $ | 31,666 | $ | (21,212 | ) | $ | 10,454 | $ | (9,746 | ) | (2) | $ | 708 | ||||||||
Cleared derivatives | 6,574 | (6,574 | ) | — | — | — | |||||||||||||||
Total derivatives | 38,240 | (27,786 | ) | 10,454 | (9,746 | ) | 708 | ||||||||||||||
Securities purchased under agreements to resell | 350,000 | — | 350,000 | (350,000 | ) | — | |||||||||||||||
Total assets | $ | 388,240 | $ | (27,786 | ) | $ | 360,454 | $ | (359,746 | ) | $ | 708 | |||||||||
Liabilities | |||||||||||||||||||||
Derivatives | |||||||||||||||||||||
Bilateral derivatives | $ | 629,920 | $ | (611,348 | ) | $ | 18,572 | $ | — | $ | 18,572 | ||||||||||
Cleared derivatives | 58,653 | (55,704 | ) | 2,949 | (2,949 | ) | (3) | — | |||||||||||||
Total liabilities | $ | 688,573 | $ | (667,052 | ) | $ | 21,521 | $ | (2,949 | ) | $ | 18,572 | |||||||||
31-Dec-13 | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Derivatives | |||||||||||||||||||||
Bilateral derivatives | $ | 80,901 | $ | (67,133 | ) | $ | 13,768 | $ | (4,454 | ) | (4) | $ | 9,314 | ||||||||
Cleared derivatives | 3,149 | (1,008 | ) | 2,141 | — | 2,141 | |||||||||||||||
Total assets | $ | 84,050 | $ | (68,141 | ) | $ | 15,909 | $ | (4,454 | ) | $ | 11,455 | |||||||||
Liabilities | |||||||||||||||||||||
Derivatives | |||||||||||||||||||||
Bilateral derivatives | $ | 900,725 | $ | (889,734 | ) | $ | 10,991 | $ | — | $ | 10,991 | ||||||||||
Cleared derivatives | 647 | (647 | ) | — | — | — | |||||||||||||||
Total liabilities | $ | 901,372 | $ | (890,381 | ) | $ | 10,991 | $ | — | $ | 10,991 | ||||||||||
_____________________________ | |||||||||||||||||||||
-1 | Any overcollateralization at an individual clearinghouse/clearing member or bilateral counterparty level is not included in the determination of the net unsecured amount. | ||||||||||||||||||||
-2 | Consists of $9,746,000 of collateral pledged by member counterparties. | ||||||||||||||||||||
(3) | In addition to this amount, the Bank had pledged securities with a fair value of $33,036,000 to secure its cleared derivatives, which is a result of the initial margin requirements imposed upon the Bank. | ||||||||||||||||||||
(4) | Consists of $1,651,000 of securities pledged by a non-member bilateral counterparty and $2,803,000 of collateral pledged by member counterparties. |
Derivatives_and_Hedging_Activi
Derivatives and Hedging Activities | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Derivatives and Hedging Activities | |||||||||||||||||||||||
Hedging Activities. As a financial intermediary, the Bank is exposed to interest rate risk. This risk arises from a variety of financial instruments that the Bank enters into on a regular basis in the normal course of its business. The Bank enters into interest rate swap, swaption, cap and forward rate agreements (collectively, interest rate exchange agreements) to manage its exposure to changes in interest rates. The Bank may use these instruments to adjust the effective maturity, repricing frequency, or option characteristics of financial instruments to achieve risk management objectives. The Bank has not entered into any credit default swaps or foreign exchange-related derivatives, and, as of December 31, 2014, it was not a party to any swaptions or forward rate agreements. | ||||||||||||||||||||||||
The Bank uses interest rate exchange agreements in two ways: either by designating the agreement as a fair value hedge of a specific financial instrument or firm commitment or by designating the agreement as a hedge of some defined risk in the course of its balance sheet management (referred to as an “economic hedge”). For example, the Bank uses interest rate exchange agreements in its overall interest rate risk management activities to adjust the interest rate sensitivity of consolidated obligations to approximate more closely the interest rate sensitivity of its assets (both advances and investments), and/or to adjust the interest rate sensitivity of advances or investments to approximate more closely the interest rate sensitivity of its liabilities. In addition to using interest rate exchange agreements to manage mismatches between the coupon features of its assets and liabilities, the Bank also uses interest rate exchange agreements to manage embedded options in assets and liabilities, to preserve the market value of existing assets and liabilities, to hedge the duration risk of prepayable instruments, to offset interest rate exchange agreements entered into with members (the Bank serves as an intermediary in these transactions), and to reduce funding costs. | ||||||||||||||||||||||||
The Bank, consistent with Finance Agency regulations, enters into interest rate exchange agreements only to reduce potential market risk exposures inherent in otherwise unhedged assets and liabilities or to act as an intermediary between its members and the Bank’s non-member derivative counterparties. The Bank is not a derivatives dealer and it does not trade derivatives for short-term profit. | ||||||||||||||||||||||||
At inception, the Bank formally documents the relationships between derivatives designated as hedging instruments and their hedged items, its risk management objectives and strategies for undertaking the hedge transactions, and its method for assessing the effectiveness of the hedging relationships. This process includes linking all derivatives that are designated as fair value hedges to: (1) specific assets and liabilities on the statements of condition or (2) firm commitments. The Bank also formally assesses (both at the inception of the hedging relationship and on a monthly basis thereafter) whether the derivatives that are used in hedging transactions have been effective in offsetting changes in the fair value of hedged items and whether those derivatives may be expected to remain effective in future periods. The Bank uses regression analyses to assess the effectiveness of its hedges. | ||||||||||||||||||||||||
Investments — The Bank has invested in agency and non-agency MBS. The interest rate and prepayment risk associated with these investment securities is managed through consolidated obligations and/or derivatives. The Bank may manage prepayment and duration risk presented by some investment securities with either callable or non-callable consolidated obligations or interest rate exchange agreements, including caps and interest rate swaps. | ||||||||||||||||||||||||
A substantial portion of the Bank’s held-to-maturity securities are variable-rate MBS that include caps that would limit the variable-rate coupons if short-term interest rates rise dramatically. To hedge a portion of the potential cap risk embedded in these securities, the Bank has entered into interest rate cap agreements. These derivatives are treated as economic hedges. | ||||||||||||||||||||||||
The Bank has also invested in agency and other highly rated debentures. A significant majority of the Bank's available-for-sale securities are fixed-rate debentures. A smaller portion of the Bank's available-for-sale securities are fixed-rate MBS. To hedge the interest rate risk associated with these fixed-rate investment securities, the Bank has entered into fixed-for-floating interest rate exchange agreements, which are designated as fair value hedges. | ||||||||||||||||||||||||
Advances — The Bank issues both fixed-rate and variable-rate advances. When appropriate, the Bank uses interest rate exchange agreements to adjust the interest rate sensitivity of its fixed-rate advances to approximate more closely the interest rate sensitivity of its liabilities. With issuances of putable advances, the Bank purchases from the member a put option that enables the Bank to terminate a fixed-rate advance on specified future dates. This embedded option is clearly and closely related to the host advance contract. The Bank typically hedges a putable advance by entering into a cancelable interest rate exchange agreement where the Bank pays a fixed coupon and receives a variable coupon, and sells an option to cancel the swap to the swap counterparty. This type of hedge is treated as a fair value hedge. The swap counterparty can cancel the interest rate exchange agreement on the call date and the Bank can cancel the putable advance and offer, subject to certain conditions, replacement funding at prevailing market rates. | ||||||||||||||||||||||||
A small portion of the Bank’s variable-rate advances are subject to interest rate caps that would limit the variable-rate coupons if short-term interest rates rise above a predetermined level. To hedge the cap risk embedded in these advances, the Bank generally enters into interest rate cap agreements. This type of hedge is treated as a fair value hedge. | ||||||||||||||||||||||||
The Bank may hedge a firm commitment for a forward-starting advance through the use of an interest rate swap. In this case, the swap will function as the hedging instrument for both the firm commitment and the subsequent advance. The carrying value of the firm commitment will be included in the basis of the advance at the time the commitment is terminated and the advance is issued. The basis adjustment will then be amortized into interest income over the life of the advance. | ||||||||||||||||||||||||
The Bank enters into optional advance commitments with its members. In an optional advance commitment, the Bank sells an option to the member that provides the member with the right to enter into an advance at a specified fixed rate and term on a specified future date, provided the member has satisfied all of the customary requirements for such advance. Optional advance commitments involving Community Investment Program (“CIP”) and Economic Development Program (“EDP”) advances with a commitment period of three months or less are currently provided at no cost to members. The Bank may hedge an optional advance commitment through the use of an interest rate swaption. In this case, the swaption will function as the hedging instrument for both the commitment and, if the option is exercised by the member, the subsequent advance. These swaptions are treated as economic hedges. | ||||||||||||||||||||||||
Consolidated Obligations - While consolidated obligations are the joint and several obligations of the FHLBanks, each FHLBank is the primary obligor for the consolidated obligations it has issued or assumed from another FHLBank. The Bank generally enters into derivative contracts to hedge the interest rate risk associated with its specific debt issuances. | ||||||||||||||||||||||||
To manage the interest rate risk of certain of its consolidated obligations, the Bank will match the cash outflow on a consolidated obligation with the cash inflow of an interest rate exchange agreement. With issuances of fixed-rate consolidated obligation bonds, the Bank typically enters into a matching interest rate exchange agreement in which the counterparty pays fixed cash flows to the Bank that are designed to mirror in timing and amount the cash outflows the Bank pays on the consolidated obligation. In this transaction, the Bank pays a variable cash flow that closely matches the interest payments it receives on short-term or variable-rate assets, typically one-month or three-month LIBOR. These transactions are treated as fair value hedges. On occasion, the Bank may enter into fixed-for-floating interest rate exchange agreements to hedge the interest rate risk associated with certain of its consolidated obligation discount notes. The derivatives associated with the Bank’s discount note hedging are treated as economic hedges. The Bank may also use interest rate exchange agreements to convert variable-rate consolidated obligation bonds from one index rate (e.g., the daily effective federal funds rate) to another index rate (e.g., one-month or three-month LIBOR); these transactions are treated as economic hedges. | ||||||||||||||||||||||||
The Bank has not issued consolidated obligations denominated in currencies other than U.S. dollars. | ||||||||||||||||||||||||
Balance Sheet Management — From time to time, the Bank may enter into interest rate basis swaps to reduce its exposure to changing spreads between one-month and three-month LIBOR. In addition, to reduce its exposure to reset risk, the Bank may occasionally enter into forward rate agreements. These derivatives are treated as economic hedges. | ||||||||||||||||||||||||
Intermediation — The Bank offers interest rate swaps, caps and floors to its members to assist them in meeting their hedging needs. In these transactions, the Bank acts as an intermediary for its members by entering into an interest rate exchange agreement with a member and then entering into an offsetting interest rate exchange agreement with one of the Bank’s approved derivative counterparties. All interest rate exchange agreements related to the Bank’s intermediary activities with its members are accounted for as economic hedges. | ||||||||||||||||||||||||
Impact of Derivatives and Hedging Activities. The following table summarizes the notional balances and estimated fair values of the Bank’s outstanding derivatives at December 31, 2014 and 2013 (in thousands). | ||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Notional | Estimated Fair Value | Notional | Estimated Fair Value | |||||||||||||||||||||
Amount of | Amount of | |||||||||||||||||||||||
Derivatives | Derivative | Derivative | Derivatives | Derivative | Derivative | |||||||||||||||||||
Assets | Liabilities | Assets | Liabilities | |||||||||||||||||||||
Derivatives designated as hedging | ||||||||||||||||||||||||
instruments under ASC 815 | ||||||||||||||||||||||||
Interest rate swaps | ||||||||||||||||||||||||
Advances | $ | 4,936,984 | $ | 4,641 | $ | 183,285 | $ | 4,795,978 | $ | 15,874 | $ | 234,882 | ||||||||||||
Available-for-sale securities | 5,877,601 | 401 | 462,501 | 4,924,934 | 19,739 | 521,470 | ||||||||||||||||||
Consolidated obligation bonds | 10,102,140 | 15,610 | 28,046 | 13,473,160 | 31,233 | 138,590 | ||||||||||||||||||
Interest rate caps related to advances | 25,000 | — | — | 25,000 | 2 | — | ||||||||||||||||||
Total derivatives designated as | 20,941,725 | 20,652 | 673,832 | 23,219,072 | 66,848 | 894,942 | ||||||||||||||||||
hedging instruments under ASC 815 | ||||||||||||||||||||||||
Derivatives not designated as hedging | ||||||||||||||||||||||||
instruments under ASC 815 | ||||||||||||||||||||||||
Interest rate swaps | ||||||||||||||||||||||||
Advances | 1,500 | 4 | — | — | — | — | ||||||||||||||||||
Available-for-sale securities | 1,000 | — | 32 | — | — | — | ||||||||||||||||||
Basis swaps | — | — | — | 3,700,000 | 9,610 | — | ||||||||||||||||||
Intermediary transactions | 950,000 | 14,864 | 13,413 | 117,648 | 3,461 | 3,208 | ||||||||||||||||||
Interest rate caps | ||||||||||||||||||||||||
Held-to-maturity securities | 2,900,000 | 1,424 | — | 4,100,000 | 909 | — | ||||||||||||||||||
Intermediary transactions | 80,000 | 1,296 | 1,296 | 110,000 | 3,222 | 3,222 | ||||||||||||||||||
Total derivatives not designated as | 3,932,500 | 17,588 | 14,741 | 8,027,648 | 17,202 | 6,430 | ||||||||||||||||||
hedging instruments under ASC 815 | ||||||||||||||||||||||||
Total derivatives before collateral and netting adjustments | $ | 24,874,225 | 38,240 | 688,573 | $ | 31,246,720 | 84,050 | 901,372 | ||||||||||||||||
Cash collateral and related accrued interest | (251 | ) | (639,517 | ) | (2,519 | ) | (824,759 | ) | ||||||||||||||||
Netting adjustments | (27,535 | ) | (27,535 | ) | (65,622 | ) | (65,622 | ) | ||||||||||||||||
Total collateral and netting adjustments(1) | (27,786 | ) | (667,052 | ) | (68,141 | ) | (890,381 | ) | ||||||||||||||||
Net derivative balances reported in statements of condition | $ | 10,454 | $ | 21,521 | $ | 15,909 | $ | 10,991 | ||||||||||||||||
________________________________________ | ||||||||||||||||||||||||
(1) | Amounts represent the effect of legally enforceable master netting agreements or other legally enforceable arrangements between the Bank and its derivative counterparties that allow the Bank to offset positive and negative positions as well as the cash collateral held or placed with those same counterparties. | |||||||||||||||||||||||
The following table presents the components of net gains (losses) on derivatives and hedging activities as presented in the statements of income for the years ended December 31, 2014, 2013 and 2012 (in thousands). | ||||||||||||||||||||||||
Gain (Loss) Recognized in Earnings | ||||||||||||||||||||||||
for the Year Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Derivatives and hedged items in ASC 815 fair value hedging relationships | ||||||||||||||||||||||||
Interest rate swaps | $ | (3,082 | ) | $ | 4,999 | $ | (7,818 | ) | ||||||||||||||||
Interest rate caps | (2 | ) | (6 | ) | (91 | ) | ||||||||||||||||||
Total net gain (loss) related to fair value hedge ineffectiveness | (3,084 | ) | 4,993 | (7,909 | ) | |||||||||||||||||||
Derivatives not designated as hedging instruments under ASC 815 | ||||||||||||||||||||||||
Net interest income on interest rate swaps | 1,362 | 3,633 | 10,410 | |||||||||||||||||||||
Interest rate swaps | ||||||||||||||||||||||||
Advances | (144 | ) | 189 | 16 | ||||||||||||||||||||
Available-for-sale securities | 411 | — | — | |||||||||||||||||||||
Consolidated obligation bonds | 126 | (769 | ) | 2,565 | ||||||||||||||||||||
Consolidated obligation discount notes | — | — | 784 | |||||||||||||||||||||
Basis swaps | 2,337 | (2,977 | ) | (8,081 | ) | |||||||||||||||||||
Intermediary transactions | 1,170 | 28 | 20 | |||||||||||||||||||||
Interest rate swaptions related to optional advance commitments | — | — | (1,947 | ) | ||||||||||||||||||||
Interest rate caps | ||||||||||||||||||||||||
Held-to-maturity securities | (2,601 | ) | (616 | ) | (3,458 | ) | ||||||||||||||||||
Intermediary transactions | — | — | 12 | |||||||||||||||||||||
Total net gain (loss) related to derivatives not designated as hedging instruments under ASC 815 | 2,661 | (512 | ) | 321 | ||||||||||||||||||||
Net gains (losses) on derivatives and hedging activities reported in the statements of income | $ | (423 | ) | $ | 4,481 | $ | (7,588 | ) | ||||||||||||||||
The following table presents, by type of hedged item, the gains (losses) on derivatives and the related hedged items in ASC 815 fair value hedging relationships and the impact of those derivatives on the Bank’s net interest income for the years ended December 31, 2014, 2013 and 2012 (in thousands). | ||||||||||||||||||||||||
Hedged Item | Gain (Loss) on | Gain (Loss) on | Net Fair Value Hedge | Derivative Net Interest | ||||||||||||||||||||
Derivatives | Hedged Items | Ineffectiveness(1) | Income (Expense)(2) | |||||||||||||||||||||
Year ended December 31, 2014 | ||||||||||||||||||||||||
Advances | $ | 18,468 | $ | (19,293 | ) | $ | (825 | ) | $ | (105,885 | ) | |||||||||||||
Available-for-sale securities | (61,063 | ) | 58,419 | (2,644 | ) | (80,808 | ) | |||||||||||||||||
Consolidated obligation bonds | 96,746 | (96,361 | ) | 385 | 115,928 | |||||||||||||||||||
Total | $ | 54,151 | $ | (57,235 | ) | $ | (3,084 | ) | $ | (70,765 | ) | |||||||||||||
Year ended December 31, 2013 | ||||||||||||||||||||||||
Advances | $ | 207,392 | $ | (207,228 | ) | $ | 164 | $ | (134,615 | ) | ||||||||||||||
Available-for-sale securities | 188,915 | (185,697 | ) | 3,218 | (80,569 | ) | ||||||||||||||||||
Consolidated obligation bonds | (185,479 | ) | 187,090 | 1,611 | 118,656 | |||||||||||||||||||
Total | $ | 210,828 | $ | (205,835 | ) | $ | 4,993 | $ | (96,528 | ) | ||||||||||||||
Year ended December 31, 2012 | ||||||||||||||||||||||||
Advances | $ | 24,077 | $ | (26,090 | ) | $ | (2,013 | ) | $ | (168,773 | ) | |||||||||||||
Available-for-sale securities | (129,478 | ) | 124,011 | (5,467 | ) | (71,435 | ) | |||||||||||||||||
Consolidated obligation bonds | (64,397 | ) | 63,968 | (429 | ) | 152,196 | ||||||||||||||||||
Total | $ | (169,798 | ) | $ | 161,889 | $ | (7,909 | ) | $ | (88,012 | ) | |||||||||||||
________________________________________ | ||||||||||||||||||||||||
(1) | Reported as net gains (losses) on derivatives and hedging activities in the statements of income. | |||||||||||||||||||||||
(2) | The net interest income (expense) associated with derivatives in ASC 815 fair value hedging relationships is reported in the statements of income in the interest income/expense line item for the indicated hedged item. | |||||||||||||||||||||||
Credit Risk Related to Derivatives. The Bank is subject to credit risk due to the risk of nonperformance by counterparties to its derivative agreements. The Bank manages derivative counterparty credit risk through the use of master netting agreements or other similar collateral exchange arrangements, credit analysis, and adherence to the requirements set forth in the Bank’s Enterprise Market Risk Management Policy and Finance Agency regulations. The Bank has transacted a significant majority of its interest rate exchange agreements bilaterally with large financial institutions under master netting agreements (as of December 31, 2014, the notional balance of outstanding transactions with bilateral counterparties totaled $21.0 billion). Some of these institutions (or their affiliates) buy, sell, and distribute consolidated obligations. The remainder of the Bank's interest rate exchange agreements have been cleared through a third-party central clearinghouse (as of December 31, 2014, the notional balance of cleared transactions outstanding totaled $4.0 billion). With cleared transactions, the Bank is exposed to credit risk in the event that the clearinghouse or the clearing member fails to meet its obligations to the Bank. | ||||||||||||||||||||||||
The notional amount of the Bank's interest rate exchange agreements does not reflect its credit risk exposure, which is much less than the notional amount. The Bank's net credit risk exposure is based on the current estimated cost, on a present value basis, of replacing at current market rates all interest rate exchange agreements with individual counterparties, if those counterparties were to default, after taking into account the value of any cash and/or securities collateral held or remitted by the Bank. For counterparties with which the Bank is in a net gain position, the Bank has credit exposure when the collateral it is holding (if any) has a value less than the amount of the gain. For counterparties with which the Bank is in a net loss position, the Bank has credit exposure when it has delivered collateral with a value greater than the amount of the loss position. The net exposure on derivative agreements is presented in Note 12. Based on the netting provisions and collateral requirements associated with its derivative agreements and the creditworthiness of its derivative counterparties, Bank management does not currently anticipate any credit losses on its derivative agreements. |
Capital
Capital | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Capital [Abstract] | ||||||||||||||||
Stockholders' Equity Note Disclosure [Text Block] | Capital | |||||||||||||||
Under the Gramm-Leach-Bliley Act of 1999 (the “GLB Act”) and the Finance Agency’s capital regulations, each FHLBank may issue Class A stock or Class B stock, or both, to its members. The Bank’s capital plan provides that it will issue only Class B capital stock. The Class B stock has a par value of $100 per share and is purchased, redeemed, repurchased and, with the prior approval of the Bank, transferred only at its par value. As required by statute and regulation, members may request the Bank to redeem excess Class B stock, or withdraw from membership and request the Bank to redeem all outstanding capital stock, with five years’ written notice to the Bank. The regulations also allow the Bank, in its sole discretion, to repurchase members’ excess stock at any time without regard for the five-year notification period as long as the Bank continues to meet its regulatory capital requirements following any stock repurchases, as described below. | ||||||||||||||||
Shareholders are required to maintain an investment in Class B stock equal to the sum of a membership investment requirement and an activity-based investment requirement. The membership investment requirement is currently 0.04 percent of each member's total assets as of the previous calendar year-end, subject to a minimum of $1,000 and a maximum of $7,000,000. The activity-based investment requirement is currently 4.10 percent of outstanding advances. | ||||||||||||||||
Members and institutions that acquire members must comply with the activity-based investment requirements for as long as the relevant advances remain outstanding. The Bank’s Board of Directors has the authority to adjust these requirements periodically within ranges established in the capital plan, as amended from time to time, to ensure that the Bank remains adequately capitalized. | ||||||||||||||||
Excess stock is defined as the amount of stock held by a member (or former member) in excess of that institution’s minimum investment requirement (i.e., the amount of stock held in excess of its activity-based investment requirement and, in the case of a member, its membership investment requirement). At any time, shareholders may request the Bank to repurchase excess capital stock. Although the Bank is not obligated to repurchase excess stock prior to the expiration of a five-year redemption or withdrawal notification period, it will typically endeavor to honor such requests within a reasonable period of time (generally not exceeding 30 days) so long as the Bank will continue to meet its regulatory capital requirements following the repurchase. | ||||||||||||||||
The Bank’s Member Products and Credit Policy provides that the Bank may periodically repurchase a portion of members’ excess capital stock. In 2014, 2013 and 2012, the Bank repurchased surplus stock on the last business day of the month following the end of each calendar quarter. For the quarterly repurchase that occurred on January 31, 2012, surplus stock was defined as the amount of stock held by a member in excess of 105 percent of the member’s minimum investment requirement. Surplus stock was defined as the amount of stock in excess of 102.5 percent of the member’s minimum investment requirement for the repurchases that occurred between April 30, 2012 and January 30, 2015. Through January 31, 2012, the Bank’s practice was that a member’s surplus stock was not repurchased if the amount of that member’s surplus stock was $250,000 or less or if, subject to certain exceptions, the member was on restricted collateral status. For the repurchases that occurred between April 30, 2012 and January 30, 2015, a member’s surplus stock was not repurchased if the amount of that member’s surplus stock was $100,000 or less or if, subject to certain exceptions, the member was on restricted collateral status. During the years ended December 31, 2014, 2013 and 2012, the Bank repurchased surplus stock totaling $901,117,000, $773,954,500, and $635,350,000, respectively, none of which was classified as mandatorily redeemable capital stock at the time of repurchase during 2014 or 2013. In 2012, $197,000 of the repurchased capital stock was classified as mandatorily redeemable at the time of repurchase. On January 30, 2015, the Bank repurchased surplus stock totaling $134,747,000, none of which was classified as mandatorily redeemable capital stock at that date. From time to time, the Bank may further modify the definition of surplus stock or the timing and/or frequency of surplus stock repurchases. | ||||||||||||||||
The following table presents total excess stock and surplus stock at December 31, 2014 and 2013 (in thousands). | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Excess stock | ||||||||||||||||
Capital stock | $ | 199,202 | $ | 229,715 | ||||||||||||
Mandatorily redeemable capital stock | 4,120 | 1,685 | ||||||||||||||
Total | $ | 203,322 | $ | 231,400 | ||||||||||||
Surplus stock | ||||||||||||||||
Capital stock | $ | 184,248 | $ | 214,651 | ||||||||||||
Mandatorily redeemable capital stock | 4,107 | 1,663 | ||||||||||||||
Total | $ | 188,355 | $ | 216,314 | ||||||||||||
Under the Finance Agency’s regulations, the Bank is subject to three capital requirements. First, the Bank must maintain at all times permanent capital (defined under the Finance Agency’s rules and regulations as retained earnings and all Class B stock regardless of its classification for financial reporting purposes) in an amount at least equal to its risk-based capital requirement, which is the sum of its credit risk capital requirement, its market risk capital requirement, and its operations risk capital requirement, calculated in accordance with the rules and regulations of the Finance Agency. The Finance Agency may require the Bank to maintain a greater amount of permanent capital than is required by the risk-based capital requirements as defined. Second, the Bank must, at all times, maintain total capital in an amount at least equal to 4.0 percent of its total assets (capital-to-assets ratio). For the Bank, total capital is defined by Finance Agency rules and regulations as the Bank’s permanent capital and the amount of any general allowance for losses (i.e., those reserves that are not held against specific assets). Finally, the Bank is required to maintain at all times a minimum leverage capital-to-assets ratio in an amount at least equal to 5.0 percent of its total assets. In applying this requirement to the Bank, leverage capital includes the Bank’s permanent capital multiplied by a factor of 1.5 plus the amount of any general allowance for losses. The Bank did not have any general reserves at December 31, 2014 or 2013. Under the regulatory definitions, total capital and permanent capital exclude accumulated other comprehensive income (loss). Additionally, mandatorily redeemable capital stock is considered capital (i.e., Class B stock) for purposes of determining the Bank’s compliance with its regulatory capital requirements. | ||||||||||||||||
At all times during the three years ended December 31, 2014, the Bank was in compliance with the aforementioned capital requirements. The following table summarizes the Bank’s compliance with the Finance Agency’s capital requirements as of December 31, 2014 and 2013 (dollars in thousands): | ||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||
Required | Actual | Required | Actual | |||||||||||||
Regulatory capital requirements: | ||||||||||||||||
Risk-based capital | $ | 347,402 | $ | 1,927,573 | $ | 450,725 | $ | 1,782,210 | ||||||||
Total capital | $ | 1,521,835 | $ | 1,927,573 | $ | 1,208,873 | $ | 1,782,210 | ||||||||
Total capital-to-assets ratio | 4 | % | 5.07 | % | 4 | % | 5.9 | % | ||||||||
Leverage capital | $ | 1,902,293 | $ | 2,891,360 | $ | 1,511,091 | $ | 2,673,315 | ||||||||
Leverage capital-to-assets ratio | 5 | % | 7.6 | % | 5 | % | 8.85 | % | ||||||||
On August 4, 2009, the Finance Agency adopted a final rule establishing capital classifications and critical capital levels for the FHLBanks. The rule defines critical capital levels for the FHLBanks and establishes criteria for each of the following capital classifications identified in the Safety and Soundness Act, as amended by the Housing and Economic Recovery Act of 2008: adequately capitalized, undercapitalized, significantly undercapitalized and critically undercapitalized. An adequately capitalized FHLBank meets all existing risk-based and minimum capital requirements. An undercapitalized FHLBank does not meet one or more of its risk-based or minimum capital requirements, but nonetheless has total capital equal to or greater than 75 percent of all capital requirements. A significantly undercapitalized FHLBank does not have total capital equal to or greater than 75 percent of all capital requirements, but the FHLBank does have total capital greater than 2 percent of its total assets. A critically undercapitalized FHLBank has total capital that is less than or equal to 2 percent of its total assets. The Bank has been classified as adequately capitalized since the rule became effective. | ||||||||||||||||
In addition to restrictions on capital distributions by a FHLBank that does not meet all of its risk-based and minimum capital requirements, a FHLBank that is classified as undercapitalized, significantly undercapitalized or critically undercapitalized is required to take certain actions, such as submitting a capital restoration plan to the Director of the Finance Agency for approval. Additionally, with respect to a FHLBank that is less than adequately capitalized, the Director of the Finance Agency may take other actions that he or she determines will help ensure the safe and sound operation of the FHLBank and its compliance with its risk-based and minimum capital requirements in a reasonable period of time. | ||||||||||||||||
The GLB Act made membership voluntary for all members. Members that withdraw from membership may not be readmitted to membership in any FHLBank for at least five years following the date that their membership was terminated and all of their shares of stock were redeemed or repurchased. | ||||||||||||||||
Effective February 28, 2011, the Bank entered into a Joint Capital Enhancement Agreement (the “JCE Agreement”) with the other 11 FHLBanks. Effective August 5, 2011, the FHLBanks amended the JCE Agreement, and the Finance Agency approved an amendment to the Bank's capital plan to incorporate its provisions on that same date. The amended JCE Agreement provides that the Bank (and each of the other FHLBanks) will, on a quarterly basis, allocate at least 20 percent of its net income to a restricted retained earnings account (“RRE Account”). Pursuant to the provisions of the amended JCE Agreement, the Bank is required to build its RRE Account to an amount equal to one percent of its total outstanding consolidated obligations, which for this purpose is based on the most recent quarter’s average carrying value of all outstanding consolidated obligations, excluding hedging adjustments. Amounts allocated to the Bank’s RRE Account are not available to pay dividends. | ||||||||||||||||
The Bank’s Board of Directors may declare and pay dividends in either cash or capital stock only from unrestricted retained earnings or a portion of current earnings. The Bank’s Board of Directors may not declare or pay a dividend if the Bank is not in compliance with its minimum capital requirements or if the Bank would fail to meet its minimum capital requirements after paying such dividend. In addition, the Bank’s Board of Directors may not declare or pay a dividend based on projected or anticipated earnings; further, the Bank may not declare or pay any dividends in the form of capital stock if its excess stock is greater than 1 percent of its total assets or if, after the issuance of such shares, the Bank’s outstanding excess stock would be greater than 1 percent of its total assets. | ||||||||||||||||
Mandatorily Redeemable Capital Stock. As discussed in Note 1, the Bank’s capital stock is classified as equity (capital) for financial reporting purposes until either a written redemption or withdrawal notice is received from a member or a membership withdrawal or termination is otherwise initiated, at which time the capital stock is reclassified to liabilities. The Finance Agency has confirmed that the accounting classification of certain shares of its capital stock as liabilities does not affect the definition of capital for purposes of determining the Bank’s compliance with its regulatory capital requirements. | ||||||||||||||||
At December 31, 2014, the Bank had $5,059,000 in outstanding capital stock subject to mandatory redemption held by 18 institutions. As of December 31, 2013, the Bank had $3,065,000 in outstanding capital stock subject to mandatory redemption held by 16 institutions. These amounts are classified as liabilities in the statements of condition. During the years ended December 31, 2014, 2013 and 2012, dividends on mandatorily redeemable capital stock in the amount of $15,000, $23,000 and $21,000, respectively, were recorded as interest expense in the statements of income. | ||||||||||||||||
The Bank is not required to redeem or repurchase activity-based stock until the later of the expiration of a notice of redemption or withdrawal or the date the activity no longer remains outstanding. If activity-based stock becomes excess stock as a result of reduced activity, the Bank, in its discretion and subject to certain regulatory restrictions, may repurchase excess stock prior to the expiration of the notice of redemption or withdrawal. The Bank will generally repurchase such excess stock as long as it expects to continue to meet its minimum capital requirements following the repurchase. | ||||||||||||||||
The following table summarizes the Bank’s mandatorily redeemable capital stock at December 31, 2014 by year of earliest mandatory redemption (in thousands). The earliest mandatory redemption reflects the earliest time at which the Bank is required to redeem the shareholder’s capital stock, and is based on the assumption that the activities associated with the activity-based stock have concluded by the time the notice of redemption or withdrawal expires. | ||||||||||||||||
2015 | $ | 677 | ||||||||||||||
2016 | 1 | |||||||||||||||
2017 | 1,115 | |||||||||||||||
2018 | 581 | |||||||||||||||
2019 | 2,685 | |||||||||||||||
Total | $ | 5,059 | ||||||||||||||
The following table summarizes the Bank’s mandatorily redeemable capital stock activity during 2014, 2013 and 2012 (in thousands). | ||||||||||||||||
Balance, January 1, 2012 | $ | 14,980 | ||||||||||||||
Capital stock that became subject to mandatory redemption during the year | 1,632 | |||||||||||||||
Redemption/repurchase of mandatorily redeemable capital stock | (12,151 | ) | ||||||||||||||
Stock dividends classified as mandatorily redeemable | 43 | |||||||||||||||
Balance, December 31, 2012 | 4,504 | |||||||||||||||
Capital stock that became subject to mandatory redemption during the year | 26,325 | |||||||||||||||
Redemption/repurchase of mandatorily redeemable capital stock | (27,845 | ) | ||||||||||||||
Mandatorily redeemable capital stock issued during the year | 18 | |||||||||||||||
Stock dividends classified as mandatorily redeemable | 63 | |||||||||||||||
Balance, December 31, 2013 | 3,065 | |||||||||||||||
Capital stock that became subject to mandatory redemption during the year, net | 3,130 | |||||||||||||||
Redemption/repurchase of mandatorily redeemable capital stock | (1,160 | ) | ||||||||||||||
Mandatorily redeemable capital stock issued during the year | 5 | |||||||||||||||
Stock dividends classified as mandatorily redeemable | 19 | |||||||||||||||
Balance, December 31, 2014 | $ | 5,059 | ||||||||||||||
A member may cancel a previously submitted redemption or withdrawal notice by providing a written cancellation notice to the Bank prior to the expiration of the five-year redemption/withdrawal notice period. A member that cancels a stock redemption or withdrawal notice more than 30 days after it is received by the Bank and prior to its expiration is subject to a cancellation fee equal to a percentage of the par value of the capital stock subject to the cancellation notice. | ||||||||||||||||
The following table provides the number of institutions that held mandatorily redeemable capital stock and the number that submitted a withdrawal notice or otherwise initiated a termination of their membership and the number of terminations completed during 2014, 2013 and 2012: | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Number of institutions, beginning of year | 16 | 13 | 15 | |||||||||||||
Due to mergers and acquisitions | 7 | 2 | 4 | |||||||||||||
Due to withdrawals | — | 2 | 1 | |||||||||||||
Due to termination of membership by the Bank* | — | 1 | — | |||||||||||||
Mandatorily redeemable capital stock reclassified to equity | — | (1 | ) | — | ||||||||||||
Terminations completed during the year | (5 | ) | (1 | ) | (7 | ) | ||||||||||
Number of institutions, end of year | 18 | 16 | 13 | |||||||||||||
________________________________________ | ||||||||||||||||
* The Bank terminated the membership of an institution that was closed by its primary regulator. | ||||||||||||||||
The Bank did not receive any stock redemption notices in 2014, 2013 or 2012. | ||||||||||||||||
Limitations on Redemption or Repurchase of Capital Stock. The GLB Act imposes the following restrictions on the redemption or repurchase of the Bank’s capital stock. | ||||||||||||||||
• | In no event may the Bank redeem or repurchase capital stock if the Bank is not in compliance with its minimum capital requirements or if the redemption or repurchase would cause the Bank to be out of compliance with its minimum capital requirements, or if the redemption or repurchase would cause the member to be out of compliance with its minimum investment requirement. In addition, the Bank’s Board of Directors may suspend redemption of capital stock if the Bank reasonably believes that continued redemption of capital stock would cause the Bank to fail to meet its minimum capital requirements in the future, would prevent the Bank from maintaining adequate capital against a potential risk that may not be adequately reflected in its minimum capital requirements, or would otherwise prevent the Bank from operating in a safe and sound manner. | |||||||||||||||
• | In no event may the Bank redeem or repurchase capital stock without the prior written approval of the Finance Agency if the Finance Agency or the Bank’s Board of Directors has determined that the Bank has incurred, or is likely to incur, losses that result in, or are likely to result in, charges against the capital of the Bank. For this purpose, charges against the capital of the Bank means an other than temporary decline in the Bank’s total equity that causes the value of total equity to fall below the Bank’s aggregate capital stock amount. Such a determination may be made by the Finance Agency or the Board of Directors even if the Bank is in compliance with its minimum capital requirements. | |||||||||||||||
• | The Bank may not repurchase any capital stock without the written consent of the Finance Agency during any period in which the Bank has suspended redemptions of capital stock. The Bank is required to notify the Finance Agency if it suspends redemptions of capital stock and set forth its plan for addressing the conditions that led to the suspension. The Finance Agency may require the Bank to reinstate redemptions of capital stock. | |||||||||||||||
• | In no event may the Bank redeem or repurchase shares of capital stock if the principal and interest due on any consolidated obligations issued through the Office of Finance have not been paid in full or, under certain circumstances, if the Bank becomes a non-complying FHLBank under Finance Agency regulations as a result of its inability to comply with regulatory liquidity requirements or to satisfy its current obligations. | |||||||||||||||
• | If at any time the Bank determines that the total amount of capital stock subject to outstanding stock redemption or withdrawal notices with expiration dates within the following 12 months exceeds the amount of capital stock the Bank could redeem and still comply with its minimum capital requirements, the Bank will determine whether to suspend redemption and repurchase activities altogether, to fulfill requests for redemption sequentially in the order in which they were received, to fulfill the requests on a pro rata basis, or to take other action deemed appropriate by the Bank. |
Employee_Retirement_Plans
Employee Retirement Plans | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Employee Retirement Plans [Abstract] | |||||||||||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | Employee Retirement Plans | ||||||||||||||
The Bank participates in the Pentegra Defined Benefit Plan for Financial Institutions (“Pentegra DB Plan”), a tax-qualified defined benefit pension plan. The Pentegra DB Plan covers substantially all officers and employees of the Bank who were hired prior to January 1, 2007, and any new employee of the Bank who was hired on or after January 1, 2007, provided that the employee had prior service with a financial services institution that participated in the Pentegra DB Plan, during which service the employee was covered by such plan. The Pentegra DB Plan is treated as a multiemployer plan for accounting purposes, but operates as a multiple-employer plan under the Employee Retirement Income Security Act of 1974 ("ERISA") and the Internal Revenue Code. As a result, certain multiemployer plan disclosures, including the certified zone status, are not applicable to the Pentegra DB Plan. Under the Pentegra DB Plan, contributions made by a participating employer may be used to provide benefits to employees of other participating employers because assets contributed by an employer are not segregated in a separate account or restricted to provide benefits only to employees of that employer. In addition, in the event a participating employer is unable to meet its contribution requirements, the required contributions for the other participating employers could increase proportionately. | |||||||||||||||
The Pentegra DB Plan operates on a fiscal year from July 1 through June 30. The Pentegra DB Plan files one Form 5500 on behalf of all employers who participate in the plan. The Employer Identification Number is 13-5645888 and the three-digit plan number is 333. There are no collective bargaining agreements in place at the Bank. | |||||||||||||||
The Pentegra DB Plan's annual valuation process includes separate calculations of the plan's funded status as well as the funded status of each participating employer. Participating employers in an under-funded position are billed for their required contributions while those in an over-funded position can use their surplus to offset all or a portion of their contribution requirement. The funded status is defined as the market value of assets divided by the funding target (an amount equal to 100 percent of the present value of all benefit liabilities accrued at the valuation date) and is calculated as of the beginning of the Pentegra DB Plan year. As permitted by ERISA, the Pentegra DB Plan accepts contributions for a plan year up to eight and a half months after the end of that plan year and, as a result, the market value of assets at the valuation date (July 1) is increased by any subsequent contributions that are designated for the immediately preceding plan year ended June 30. | |||||||||||||||
The most recent Form 5500 available for the Pentegra DB Plan is for the year ended June 30, 2013. For the plan years ended June 30, 2013 and 2012, the Bank's contributions did not represent more than 5 percent of the total contributions to the plan. | |||||||||||||||
The following table presents the Bank's net pension cost and its funded status, as well as the funded status of the Pentegra DB Plan (dollars in thousands, including amounts presented in the footnotes to the table). | |||||||||||||||
2014 | 2013 | 2012 | |||||||||||||
Net pension cost charged to compensation and benefit expense for the year ended December 31 | $ | 1,806 | $ | 1,725 | $ | 2,013 | |||||||||
Pentegra DB Plan funded status as of July 1 | 111.3 | % | (a) | 101.3 | % | (b) | 108.4 | % | |||||||
Bank's funded status as of July 1 | 107 | % | 100 | % | 112.5 | % | |||||||||
____________ | |||||||||||||||
(a) | The Pentegra DB Plan's funded status as of July 1, 2014 is preliminary and may increase because the plan's participants were permitted to make contributions for the plan year ended June 30, 2014 through March 15, 2015. Contributions made during the period from July 1, 2014 through March 15, 2015 and designated for the plan year ended June 30, 2014 will be included in the final valuation as of July 1, 2014. The final funded status as of July 1, 2014 will not be available until the Form 5500 for the plan year July 1, 2014 through June 30, 2015 is filed (this Form 5500 is due to be filed no later than April 2016). | ||||||||||||||
(b) | The Pentegra DB Plan's funded status as of July 1, 2013 is preliminary and may increase because the plan's participants were permitted to make contributions for the plan year ended June 30, 2013 through March 15, 2014. Contributions made during the period from July 1, 2013 through March 15, 2014 and designated for the plan year ended June 30, 2013 will be included in the final valuation as of July 1, 2013. The final funded status as of July 1, 2013 will not be available until the Form 5500 for the plan year July 1, 2013 through June 30, 2014 is filed (this Form 5500 is due to be filed no later than April 2015). | ||||||||||||||
The Bank also participates in the Pentegra Defined Contribution Plan for Financial Institutions (“Pentegra DC Plan”), a tax-qualified defined contribution plan. The Bank’s contributions to the Pentegra DC Plan are equal to a percentage of voluntary employee contributions, subject to certain limitations. During the years ended December 31, 2014, 2013 and 2012, the Bank contributed $1,171,000, $1,185,000 and $1,200,000, respectively, to the Pentegra DC Plan. | |||||||||||||||
Additionally, the Bank maintains a non-qualified deferred compensation plan that is available to some employees, which is, in substance, an unfunded supplemental retirement plan. The Bank’s liability, which consists of the accumulated employee compensation deferrals, accrued earnings (or losses) on those deferrals and matching Bank contributions corresponding to the contribution percentages applicable to the defined contribution plan, was $2,266,000 and $2,108,000 at December 31, 2014 and 2013, respectively. Compensation and benefits expense includes accrued earnings on deferred employee compensation and Bank contributions totaling $146,000, $283,000, and $102,000 for the years ended December 31, 2014, 2013 and 2012, respectively. | |||||||||||||||
The Bank's non-qualified deferred compensation plan is also available to all of its directors. The Bank’s liability for directors' deferred compensation, which consists of the accumulated compensation deferrals (representing directors’ fees) and the accrued earnings (losses) on those deferrals, was $1,264,000 and $1,078,000 at December 31, 2014 and 2013, respectively. | |||||||||||||||
The Bank maintains a Special Non-Qualified Deferred Compensation Plan (the “Plan”), a defined contribution plan that was established primarily to provide supplemental retirement benefits to those employees who were serving as the Bank’s executive officers at the time the Plan was established. Each participant’s benefit under the Plan consists of contributions that were made by the Bank on the participant’s behalf, plus an allocation of the investment gains or losses on the assets used to fund the Plan. Contributions to the Plan are determined solely at the discretion of the Bank’s Board of Directors; the Bank has no obligation or current intention to make future contributions to the Plan. The Bank’s accrued liability under this plan was $5,173,000 and $5,026,000 at December 31, 2014 and 2013, respectively. During the years ended December 31, 2014, 2013 and 2012, the Bank contributed $25,000, $740,000 and $727,000, respectively, to the Plan. | |||||||||||||||
The Bank sponsors a retirement benefits program that includes health care and life insurance benefits for eligible retirees. The health care portion of the program is contributory while the life insurance benefits, which are available to retirees with at least 20 years of service, are offered on a noncontributory basis. Prior to January 1, 2005, retirees were eligible to remain enrolled in the Bank’s health care benefits plan if age 50 or older with at least 10 years of service at the time of retirement. In December 2004, the Bank modified the eligibility requirements relating to retiree health care continuation benefits. Effective January 1, 2005, retirees are eligible to remain enrolled in the Bank’s health care benefits plan if age 55 or older with at least 15 years of service at the time of retirement. Employees who were age 50 or older with 10 years of service and those who had 20 years of service as of December 31, 2004 were not subject to the revised eligibility requirements. Additionally, then current retiree benefits were unaffected by these modifications. In October 2005, the Bank modified the participant contribution requirements relating to its retirement benefits program. Effective December 31, 2005, retirees who are age 55 or older with at least 15 years of service at the time of retirement can remain enrolled in the Bank’s health care benefits program by paying 100% of the expected plan cost. Previously, participant contributions were subsidized by the Bank; this subsidy was based upon the Bank’s COBRA premium rate and the employee’s age and length of service with the Bank. Then current retirees, employees who were hired prior to January 1, 1991 and those who, as of December 31, 2004, had at least 20 years of service or were age 50 or older with 10 years of service are not subject to these revised contribution requirements prior to age 65. Under the revised plan, at age 65, all plan participants are required to pay 100% of the expected plan cost. The Bank does not have any plan assets set aside for the retirement benefits program. | |||||||||||||||
The Bank uses a December 31 measurement date for its retirement benefits program. A reconciliation of the accumulated postretirement benefit obligation (“APBO”) and funding status of the retirement benefits program for the years ended December 31, 2014 and 2013 is as follows (in thousands): | |||||||||||||||
Year Ended December 31, | |||||||||||||||
2014 | 2013 | ||||||||||||||
Change in APBO | |||||||||||||||
APBO at beginning of year | $ | 1,376 | $ | 2,129 | |||||||||||
Service cost | 18 | 21 | |||||||||||||
Interest cost | 61 | 59 | |||||||||||||
Actuarial loss (gain) | 2 | (1,067 | ) | ||||||||||||
Participant contributions | 160 | 158 | |||||||||||||
Prior service cost | — | 211 | |||||||||||||
Benefits paid | (207 | ) | (135 | ) | |||||||||||
APBO at end of year | 1,410 | 1,376 | |||||||||||||
Change in plan assets | |||||||||||||||
Fair value of plan assets at beginning of year | — | — | |||||||||||||
Benefits paid (contributions retained) by the Bank | 47 | (23 | ) | ||||||||||||
Participant contributions | 160 | 158 | |||||||||||||
Benefits paid | (207 | ) | (135 | ) | |||||||||||
Fair value of plan assets at end of year | — | — | |||||||||||||
Funded status recognized in other liabilities at end of year | $ | (1,410 | ) | $ | (1,376 | ) | |||||||||
Amounts recognized in accumulated other comprehensive income (loss) at December 31, 2014 and 2013 consist of the following (in thousands): | |||||||||||||||
December 31, | |||||||||||||||
2014 | 2013 | ||||||||||||||
Net actuarial gain | $ | 1,514 | $ | 1,607 | |||||||||||
Prior service cost | (178 | ) | (180 | ) | |||||||||||
$ | 1,336 | $ | 1,427 | ||||||||||||
The amounts in accumulated other comprehensive income (loss) include $8,000 of prior service cost and $83,000 of net actuarial gains that are expected to be recognized as components of net periodic benefit cost in 2015. | |||||||||||||||
The actuarial assumptions used in the measurement of the Bank’s benefit obligation included a gross health care cost trend rate of 7.8 percent for 2015. For 2014, 2013 and 2012, gross health care cost trend rates of 8.0 percent, 8.1 percent and 8.4 percent, respectively, were used. The gross health care cost trend rate is assumed to decline by 0.04 percent per year to a final rate of 4.5 percent in 2097 and thereafter. To compute the APBO at December 31, 2014 and 2013, weighted average discount rates of 3.44 percent and 4.64 percent were used. Weighted average discount rates of 4.64 percent, 3.81 percent and 4.24 percent were used to compute the net periodic benefit cost for 2014, 2013 and 2012, respectively. | |||||||||||||||
Components of net periodic benefit cost (credit) for the years ended December 31, 2014, 2013 and 2012 were as follows (in thousands): | |||||||||||||||
Year Ended December 31, | |||||||||||||||
2014 | 2013 | 2012 | |||||||||||||
Service cost | $ | 18 | $ | 21 | $ | 7 | |||||||||
Interest cost | 61 | 59 | 83 | ||||||||||||
Amortization of prior service cost (credit) | 2 | (17 | ) | (35 | ) | ||||||||||
Amortization of net actuarial gain | (91 | ) | (77 | ) | (64 | ) | |||||||||
Net periodic benefit credit | $ | (10 | ) | $ | (14 | ) | $ | (9 | ) | ||||||
Under U.S. GAAP, the Bank is required to recognize the overfunded or underfunded status of its retirement benefits program as an asset or liability in its statement of condition and to recognize changes in that funded status in the year in which the changes occur through other comprehensive income. Changes in benefit obligations recognized in other comprehensive income during the years ended December 31, 2014, 2013 and 2012 were as follows (in thousands): | |||||||||||||||
Year Ended December 31, | |||||||||||||||
2014 | 2013 | 2012 | |||||||||||||
Amortization of prior service cost (credit) included in net periodic benefit cost | $ | 2 | $ | (17 | ) | $ | (35 | ) | |||||||
Prior service cost | — | (211 | ) | — | |||||||||||
Actuarial gain (loss) | (2 | ) | 1,067 | 147 | |||||||||||
Amortization of net actuarial gain included in net periodic benefit cost | (91 | ) | (77 | ) | (64 | ) | |||||||||
Total changes in benefit obligations recognized in other comprehensive income | $ | (91 | ) | $ | 762 | $ | 48 | ||||||||
A 1 percent increase in the health care cost trend rate would have increased the APBO at December 31, 2014 by $61,000 and the aggregate of the service and interest cost components of the net periodic benefit cost for the year ended December 31, 2014 by $7,000. Alternatively, a 1 percent decrease in the health care cost trend rate would have reduced the APBO at December 31, 2014 by $57,000 and the aggregate of the service and interest cost components of the net periodic benefit cost for the year ended December 31, 2014 by $6,000. | |||||||||||||||
The following net postretirement benefit payments, which reflect expected future service, as appropriate, are expected to be paid (in thousands): | |||||||||||||||
Year Ended | Expected Benefits | ||||||||||||||
December 31, | Payments, Net of | ||||||||||||||
Participant | |||||||||||||||
Contributions | |||||||||||||||
2015 | $ | 133 | |||||||||||||
2016 | 139 | ||||||||||||||
2017 | 151 | ||||||||||||||
2018 | 128 | ||||||||||||||
2019 | 132 | ||||||||||||||
2020-2024 | 464 | ||||||||||||||
$ | 1,147 | ||||||||||||||
Estimated_Fair_Values
Estimated Fair Values | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||
Fair Value Disclosures [Text Block] | Estimated Fair Values | ||||||||||||||||||||||||
Fair value is defined under U.S. GAAP as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. U.S. GAAP establishes a fair value hierarchy and requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. U.S. GAAP also requires an entity to disclose the level within the fair value hierarchy in which each measurement is classified. The fair value hierarchy prioritizes the inputs used to measure fair value into three broad levels: | |||||||||||||||||||||||||
Level 1 Inputs — Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date. | |||||||||||||||||||||||||
Level 2 Inputs — Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. If the asset or liability has a specified (contractual) term, a Level 2 input must be observable for substantially the full term of the asset or liability. Level 2 inputs include the following: (1) quoted prices for similar assets or liabilities in active markets; (2) quoted prices for identical or similar assets or liabilities in markets that are not active or in which little information is released publicly; (3) inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates and yield curves that are observable at commonly quoted intervals and implied volatilities); and (4) inputs that are derived principally from or corroborated by observable market data (e.g., implied spreads). | |||||||||||||||||||||||||
Level 3 Inputs — Unobservable inputs for the asset or liability that are supported by little or no market activity. None of the Bank’s assets or liabilities that are recorded at fair value on a recurring basis were measured using significant Level 3 inputs. | |||||||||||||||||||||||||
For financial instruments carried at fair value, the Bank reviews the fair value hierarchy classifications on a quarterly basis. Changes in the observability of the valuation inputs may result in a reclassification of certain assets or liabilities. Reclassifications, if any, would be reported as transfers as of the beginning of the quarter in which the changes occurred. For the years ended December 31, 2014 and 2013, the Bank did not reclassify any fair value measurements. | |||||||||||||||||||||||||
The following estimated fair value amounts have been determined by the Bank using available market information and the Bank’s best judgment of appropriate valuation methods. These estimates are based on pertinent information available to the Bank as of December 31, 2014 and 2013. Although the Bank uses its best judgment in estimating the fair value of these financial instruments, there are inherent limitations in any estimation technique or valuation methodology. For example, because an active secondary market does not exist for many of the Bank’s financial instruments (e.g., advances, non-agency RMBS and mortgage loans held for portfolio), in certain cases their fair values are not subject to precise quantification or verification. Therefore, the estimated fair values presented below in the Fair Value Summary Tables may not be indicative of the amounts that would have been realized in market transactions at the reporting dates. Further, the fair values do not represent an estimate of the overall market value of the Bank as a going concern, which would take into account future business opportunities. | |||||||||||||||||||||||||
The valuation techniques used to measure the fair values of the Bank’s financial instruments are described below. | |||||||||||||||||||||||||
Cash and due from banks. The estimated fair value equals the carrying value. | |||||||||||||||||||||||||
Interest-bearing deposit assets. Interest-bearing deposit assets earn interest at floating market rates; therefore, the estimated fair value of the deposits approximates their carrying value. | |||||||||||||||||||||||||
Securities purchased under agreements to resell and federal funds sold. All federal funds sold and securities purchased under agreements to resell represent overnight balances. The estimated fair values approximate the carrying values. | |||||||||||||||||||||||||
Trading, available-for-sale and held-to-maturity securities. To value its holdings of U.S. Treasury Bills classified as trading securities, all of its available-for-sale securities and its held-to-maturity MBS holdings, the Bank obtains prices from four designated third-party pricing vendors when available. The pricing vendors use various proprietary models to price these securities. The inputs to those models are derived from various sources including, but not limited to, benchmark yields, reported trades, dealer estimates, issuer spreads, benchmark securities, bids, offers and other market-related data. Because many securities do not trade on a daily basis, the pricing vendors use available information as applicable such as benchmark curves, benchmarking of like securities, sector groupings and matrix pricing to determine the prices for individual securities. Each pricing vendor has an established challenge process in place for all security valuations, which facilitates resolution of potentially erroneous prices identified by the Bank. | |||||||||||||||||||||||||
Recently, the Bank conducted reviews of the four pricing vendors to reconfirm its understanding of the vendors' pricing processes, methodologies and control procedures and was satisfied that those processes, methodologies and control procedures were adequate and appropriate. | |||||||||||||||||||||||||
A “median” price is first established for each security using a formula that is based upon the number of prices received. If four prices are received, the average of the middle two prices is the median price; if three prices are received, the middle price is the median price; if two prices are received, the average of the two prices is the median price; and if one price is received, it is the median price (and also the final price) subject to some type of validation similar to the evaluation of outliers described below. All prices that are within a specified tolerance threshold of the median price are included in the “cluster” of prices that are averaged to compute a “default” price. All prices that are outside the threshold (“outliers”) are subject to further analysis (including, but not limited to, comparison to prices provided by an additional third-party valuation service, prices for similar securities, and/or non-binding dealer estimates) to determine if an outlier is a better estimate of fair value. If an outlier (or some other price identified in the analysis) is determined to be a better estimate of fair value, then the outlier (or the other price, as appropriate) is used as the final price rather than the default price. If, on the other hand, the analysis confirms that an outlier (or outliers) is (are) in fact not representative of fair value and the default price is the best estimate, then the default price is used as the final price. In all cases, the final price is used to determine the fair value of the security. | |||||||||||||||||||||||||
If all prices received for a security are outside the tolerance threshold level of the median price, then there is no default price, and the final price is determined by an evaluation of all outlier prices as described above. | |||||||||||||||||||||||||
As an additional step, the Bank reviewed the final fair value estimates of its non-agency RMBS holdings as of December 31, 2014 for reasonableness using an implied yield test. The Bank calculated an implied yield for each of its non-agency RMBS using the estimated fair value derived from the process described above and the security's projected cash flows from the Bank's OTTI process and compared those yields to the yields for comparable securities according to dealers and other third-party sources to the extent comparable market yield data was available. This analysis did not indicate that any adjustments to the final fair value estimates were necessary. | |||||||||||||||||||||||||
As of December 31, 2014 and 2013, four vendor prices were received for substantially all of the Bank's trading, available-for-sale and held-to-maturity securities referred to above and the final prices for substantially all of those securities were computed by averaging the four prices. Based on the Bank's understanding of the pricing methods employed by the third-party pricing vendors and the relative lack of dispersion among the vendor prices (or, in those instances in which there were outliers or significant yield variances, the Bank's additional analyses), the Bank believes its final prices result in reasonable estimates of the fair values and that the fair value measurements are classified appropriately in the fair value hierarchy. | |||||||||||||||||||||||||
The Bank estimates the fair values of its held-to-maturity debentures using a pricing model and observable market data (i.e., the U.S. Government Agency Fair Value curve and, for debentures containing call features, swaption volatility). | |||||||||||||||||||||||||
To value its mutual fund investments classified as trading securities, the Bank obtains quoted prices for identical securities. | |||||||||||||||||||||||||
Advances. The Bank determines the estimated fair values of advances by calculating the present value of expected future cash flows from the advances using the replacement advance rates for advances with similar terms and, for advances containing options, swaption volatility. This amount is then reduced for accrued interest receivable. Each FHLBank prices advances at a spread to its cost of funds. Each FHLBank's cost of funds approximates the "CO curve," which is derived by adding to the U.S. Treasury curve indicative spreads obtained from market-observable sources. The indicative spreads are generally derived from dealer pricing indications, recent trades, secondary market activity and historical pricing relatonships. | |||||||||||||||||||||||||
Mortgage loans held for portfolio. The Bank estimates the fair values of mortgage loans held for portfolio based on observed market prices for agency MBS. Individual mortgage loans are pooled based on certain criteria such as loan type, weighted average coupon, and origination year and matched to reference securities with a similar collateral composition to derive benchmark pricing. The prices for agency MBS used as a benchmark are subject to certain market conditions including, but not limited to, the market’s expectations of future prepayments, the current and expected level of interest rates, and investor demand. | |||||||||||||||||||||||||
Accrued interest receivable and payable. The estimated fair value of accrued interest receivable and payable approximates the carrying value due to their short-term nature. | |||||||||||||||||||||||||
Derivative assets/liabilities. The fair values of the Bank’s interest rate swap and swaption agreements are (or, in the case of its swaption agreements, were) estimated using a pricing model with inputs that are observable in the market (e.g., the relevant interest rate curves (that is, the relevant LIBOR swap curve and, for purposes of discounting, the overnight index swap ("OIS") curve) and, for agreements containing options, swaption volatility). The fair values of the Bank’s interest rate caps are also estimated using a pricing model with inputs that are observable in the market (that is, cap volatility, the relevant LIBOR swap curve and, for purposes of discounting, the OIS curve). | |||||||||||||||||||||||||
Prior to September 30, 2014, the fair values of the Bank’s interest rate basis swaps and interest rate caps were obtained from dealers (for each basis swap and cap, one dealer estimate was received). These non-binding fair value estimates were corroborated using the Bank's pricing model and observable market data. Effective September 30, 2014, the Bank began using the fair values obtained from its pricing model to value its interest rate basis swaps and interest rate caps. This change in valuation technique did not have a significant impact on the estimated fair values of the Bank's basis swaps or caps as of September 30, 2014. As of December 31, 2014, the Bank was no longer a party to any interest rate basis swaps. | |||||||||||||||||||||||||
Prior to December 31, 2012, the Bank used the LIBOR swap curve to discount cash flows when determining the fair values of its interest rate exchange agreements. The Bank determined that most market participants had as of December 31, 2012 begun using the OIS curve to value certain collateralized interest rate exchange agreements and, as a result, the Bank concluded that the OIS curve was a more appropriate curve to use to discount the cash flows on its interest rate exchange agreements beginning on that date. The impact of this change was not significant as of December 31, 2012. | |||||||||||||||||||||||||
As the collateral and netting provisions of the Bank’s arrangements with its derivative counterparties significantly reduce the risk from nonperformance (see Note 12), the Bank does not consider its own nonperformance risk or the nonperformance risk associated with each of its counterparties to be a significant factor in the valuation of its derivative assets and liabilities. The Bank compares the fair values obtained from its pricing model to non-binding dealer estimates (in the case of bilateral derivatives) and clearinghouse valuations (in the case of cleared derivatives) and may also compare its fair values to those of similar instruments to ensure that the fair values are reasonable. | |||||||||||||||||||||||||
The fair values of the Bank’s derivative assets and liabilities include accrued interest receivable/payable and cash collateral remitted to/received from counterparties; the estimated fair values of the accrued interest receivable/payable and cash collateral approximate their carrying values due to their short-term nature. The fair values of the Bank's bilateral derivatives are netted by counterparty pursuant to the provisions of the credit support annexes to the Bank’s master netting agreements with its non-member bilateral derivative counterparties. The Bank's cleared derivative transactions with each clearing member of each clearinghouse are netted pursuant to the Bank's arrangements with those parties. In each case, if the netted amounts are positive, they are classified as an asset and, if negative, as a liability. | |||||||||||||||||||||||||
Deposit liabilities. The Bank determines the estimated fair values of its deposit liabilities with fixed rates and more than three months to maturity by calculating the present value of expected future cash flows from the deposits and reducing this amount for accrued interest payable. The discount rates used in these calculations are based on replacement funding rates for liabilities with similar terms. The estimated fair value approximates the carrying value for deposits with variable rates and fixed rates with three months or less to their maturity or repricing date. | |||||||||||||||||||||||||
Consolidated obligations. The Bank estimates the fair values of consolidated obligations by calculating the present value of expected future cash flows using discount rates that are based on replacement funding rates for liabilities with similar terms and reducing this amount for accrued interest payable. The inputs to the valuation are the CO curve and, for consolidated obligations containing options, swaption volatility. | |||||||||||||||||||||||||
Mandatorily redeemable capital stock. The fair value of capital stock subject to mandatory redemption is generally equal to its par value ($100 per share), as adjusted for any estimated dividend earned but unpaid at the time of reclassification from equity to liabilities. The Bank’s capital stock cannot, by statute or implementing regulation, be purchased, redeemed, repurchased or transferred at any amount other than its par value. | |||||||||||||||||||||||||
Commitments. The estimated fair value of the Bank’s commitments to extend credit, including advances and letters of credit, was not material at December 31, 2014 or 2013. | |||||||||||||||||||||||||
The following table presents the carrying values and estimated fair values of the Bank’s financial instruments at December 31, 2014 (in thousands), as well as the level within the fair value hierarchy in which the measurements are classified. Financial assets and liabilities are classified in their entirety based on the lowest level input that is significant to the fair value estimate. | |||||||||||||||||||||||||
FAIR VALUE SUMMARY TABLE | |||||||||||||||||||||||||
Estimated Fair Value | |||||||||||||||||||||||||
Financial Instruments | Carrying Value | Total | Level 1 | Level 2 | Level 3 | Netting Adjustment(4) | |||||||||||||||||||
Assets: | |||||||||||||||||||||||||
Cash and due from banks | $ | 1,507,708 | $ | 1,507,708 | $ | 1,507,708 | $ | — | $ | — | $ | — | |||||||||||||
Interest-bearing deposits | 266 | 266 | — | 266 | — | — | |||||||||||||||||||
Securities purchased under agreements to resell | 350,000 | 350,000 | — | 350,000 | — | — | |||||||||||||||||||
Federal funds sold | 5,613,000 | 5,613,000 | — | 5,613,000 | — | — | |||||||||||||||||||
Trading securities (1) | 408,563 | 408,563 | 8,769 | 399,794 | — | — | |||||||||||||||||||
Available-for-sale securities (1) | 6,388,502 | 6,388,502 | — | 6,388,502 | — | — | |||||||||||||||||||
Held-to-maturity securities | 4,662,013 | 4,727,130 | — | 4,566,726 | (2) | 160,404 | (3) | — | |||||||||||||||||
Advances | 18,942,400 | 19,060,638 | — | 19,060,638 | — | — | |||||||||||||||||||
Mortgage loans held for portfolio, net | 71,411 | 79,331 | — | 79,331 | — | — | |||||||||||||||||||
Accrued interest receivable | 65,168 | 65,168 | — | 65,168 | — | — | |||||||||||||||||||
Derivative assets (1) | 10,454 | 10,454 | — | 38,240 | — | (27,786 | ) | ||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||
Deposits | 797,414 | 797,408 | — | 797,408 | — | — | |||||||||||||||||||
Consolidated obligations | |||||||||||||||||||||||||
Discount notes | 19,131,832 | 19,131,732 | — | 19,131,732 | — | — | |||||||||||||||||||
Bonds | 16,078,700 | 16,110,291 | — | 16,110,291 | — | — | |||||||||||||||||||
Mandatorily redeemable capital stock | 5,059 | 5,059 | 5,059 | — | — | — | |||||||||||||||||||
Accrued interest payable | 39,726 | 39,726 | — | 39,726 | — | — | |||||||||||||||||||
Derivative liabilities (1) | 21,521 | 21,521 | — | 688,573 | — | (667,052 | ) | ||||||||||||||||||
___________________________ | |||||||||||||||||||||||||
(1) | Financial instruments measured at fair value on a recurring basis as of December 31, 2014. | ||||||||||||||||||||||||
(2) | Consists of the Bank's holdings of U.S. government-guaranteed debentures, U.S. government-guaranteed RMBS, GSE RMBS and GSE commercial MBS. | ||||||||||||||||||||||||
(3) | Consists of the Bank's holdings of non-agency RMBS. | ||||||||||||||||||||||||
(4) | Amounts represent the impact of legally enforceable master netting agreements or other legally enforceable arrangements between the Bank and its derivative counterparties that allow the Bank to offset positive and negative positions as well as the cash collateral held or placed with those same counterparties. | ||||||||||||||||||||||||
The following table presents the carrying values and estimated fair values of the Bank’s financial instruments at December 31, 2013 (in thousands), as well as the level within the fair value hierarchy in which the measurements are classified. Financial assets and liabilities are classified in their entirety based on the lowest level input that is significant to the fair value estimate. | |||||||||||||||||||||||||
FAIR VALUE SUMMARY TABLE | |||||||||||||||||||||||||
Estimated Fair Value | |||||||||||||||||||||||||
Financial Instruments | Carrying Value | Total | Level 1 | Level 2 | Level 3 | Netting Adjustment(4) | |||||||||||||||||||
Assets: | |||||||||||||||||||||||||
Cash and due from banks | $ | 911,081 | $ | 911,081 | $ | 911,081 | $ | — | $ | — | $ | — | |||||||||||||
Interest-bearing deposits | 344 | 344 | — | 344 | — | — | |||||||||||||||||||
Federal funds sold | 1,468,000 | 1,468,000 | — | 1,468,000 | — | — | |||||||||||||||||||
Trading securities (1) | 1,007,757 | 1,007,757 | 8,252 | 999,505 | — | — | |||||||||||||||||||
Available-for-sale securities (1) | 5,455,693 | 5,455,693 | — | 5,455,693 | — | — | |||||||||||||||||||
Held-to-maturity securities | 5,198,549 | 5,258,422 | — | 5,075,225 | (2) | 183,197 | (3) | — | |||||||||||||||||
Advances | 15,978,945 | 16,059,612 | — | 16,059,612 | — | — | |||||||||||||||||||
Mortgage loans held for portfolio, net | 91,110 | 100,078 | — | 100,078 | — | — | |||||||||||||||||||
Accrued interest receivable | 64,425 | 64,425 | — | 64,425 | — | — | |||||||||||||||||||
Derivative assets (1) | 15,909 | 15,909 | — | 84,050 | — | (68,141 | ) | ||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||
Deposits | 885,667 | 885,665 | — | 885,665 | — | — | |||||||||||||||||||
Consolidated obligations | |||||||||||||||||||||||||
Discount notes | 5,984,530 | 5,984,721 | — | 5,984,721 | — | — | |||||||||||||||||||
Bonds | 21,486,712 | 21,452,422 | — | 21,452,422 | — | — | |||||||||||||||||||
Mandatorily redeemable capital stock | 3,065 | 3,065 | 3,065 | — | — | — | |||||||||||||||||||
Accrued interest payable | 47,035 | 47,035 | — | 47,035 | — | — | |||||||||||||||||||
Derivative liabilities (1) | 10,991 | 10,991 | — | 901,372 | — | (890,381 | ) | ||||||||||||||||||
___________________________ | |||||||||||||||||||||||||
-1 | Financial instruments measured at fair value on a recurring basis as of December 31, 2013. | ||||||||||||||||||||||||
-2 | Consists of the Bank's holdings of U.S. government-guaranteed debentures, U.S. government-guaranteed RMBS and GSE RMBS. | ||||||||||||||||||||||||
-3 | Consists of the Bank's holdings of non-agency RMBS. | ||||||||||||||||||||||||
-4 | Amounts represent the impact of legally enforceable master netting agreements or other legally enforceable arrangements between the Bank and its derivative counterparties that allow the Bank to offset positive and negative positions as well as the cash collateral held or placed with those same counterparties. | ||||||||||||||||||||||||
As of December 31, 2012, the Bank had entered into optional advance commitments with par values totaling $50,000,000, excluding commitments to fund CIP and EDP advances. These commitments expired during the three months ended March 31, 2013. Under each of these commitments, the Bank sold an option to a member that provided the member with the right to enter into an advance at a specified fixed rate and term on a specified future date, provided the member had satisfied all of the customary requirements for that advance. The Bank hedged these commitments through the use of interest rate swaptions, which were treated as economic hedges. The Bank irrevocably elected to carry these optional advance commitments at fair value under the fair value option in an effort to mitigate the potential income statement volatility that can arise from economic hedging relationships. Gains and losses on optional advance commitments carried at fair value under the fair value option are reported in other income (loss) in the statements of income. | |||||||||||||||||||||||||
During the year ended December 31, 2014, the Bank recorded total OTTI losses on one of its non-agency RMBS classified as held-to-maturity (see Note 5). Based on the lack of significant market activity for non-agency RMBS, the nonrecurring fair value measurement for this impaired security was classified as a Level 3 measurement in the fair value hierarchy. Four third-party vendor prices were received for this security and the average of the four prices was used to determine the final fair value measurement. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||
Commitments and Contingencies Disclosure [Text Block] | Commitments and Contingencies | ||||||||||||
Joint and several liability. As described in Note 10, the Bank is jointly and severally liable with the other 11 FHLBanks for the payment of principal and interest on all of the consolidated obligations issued by the 12 FHLBanks. At December 31, 2014 and 2013, the par amounts of the other 11 FHLBanks’ outstanding consolidated obligations totaled $812 billion and $739 billion, respectively. The Finance Agency, in its discretion, may require any FHLBank to make principal or interest payments due on any consolidated obligation, regardless of whether there has been a default by a FHLBank having primary liability. To the extent that a FHLBank makes any consolidated obligation payment on behalf of another FHLBank, the paying FHLBank is entitled to reimbursement from the FHLBank with primary liability. However, if the Finance Agency determines that the primary obligor is unable to satisfy its obligations, then the Finance Agency may allocate the outstanding liability among the remaining FHLBanks on a pro rata basis in proportion to each FHLBank’s participation in all consolidated obligations outstanding, or on any other basis that the Finance Agency may determine. No FHLBank has ever failed to make any payment on a consolidated obligation for which it was the primary obligor; as a result, the regulatory provisions for directing other FHLBanks to make payments on behalf of another FHLBank or allocating the liability among other FHLBanks have never been invoked. | |||||||||||||
The joint and several obligations are mandated by Finance Agency regulations and are not the result of arms-length transactions among the FHLBanks. As described above, 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 liability. If the Bank expected that it would be required to pay any amounts on behalf of its co-obligors under its joint and several liability, the Bank would charge to income the amount of the expected payment. Based upon the creditworthiness of the other FHLBanks, the Bank currently believes that the likelihood that it would have to pay any amounts beyond those for which it is primarily liable is remote. | |||||||||||||
Other commitments and contingencies. At December 31, 2014 and 2013, the Bank had commitments to make additional advances totaling approximately $14,065,000 and $14,951,000, respectively. All of the outstanding commitments to make additional advances at December 31, 2014 expire in 2015 or 2016. | |||||||||||||
The Bank issues standby letters of credit for a fee on behalf of its members. Standby letters of credit serve as performance guarantees. If the Bank is required to make payment for a beneficiary’s draw on the letter of credit, the amount funded is converted into a collateralized advance to the member. Letters of credit are fully collateralized in the same manner as advances (see Note 6). Outstanding standby letters of credit totaled $4,330,557,000 and $2,964,486,000 at December 31, 2014 and 2013, respectively. At December 31, 2014, outstanding letters of credit had original terms of up to 10 years with a final expiration in 2020. Unearned fees on standby letters of credit are recorded in other liabilities and totaled $3,746,000 and $4,227,000 at December 31, 2014 and 2013, respectively. Based on management’s credit analyses and collateral requirements, the Bank does not deem it necessary to have any provision for credit losses on these letters of credit (see Note 8). | |||||||||||||
At December 31, 2014, the Bank had commitments to issue $60,000,000 of consolidated obligation bonds, all of which were hedged with interest rate swaps. In addition, at December 31, 2014 and 2013, the Bank had commitments to issue $750,000,000 and $500,000,000, respectively, of consolidated obligation discount notes, none of which were hedged. | |||||||||||||
The Bank has transacted interest rate exchange agreements with large financial institutions and a third-party clearinghouse which are subject to collateral exchange arrangements. As of December 31, 2014 and 2013, the Bank had pledged cash collateral of $639,452,000 and $824,695,000, respectively, to those parties that had credit risk exposure to the Bank related to interest rate exchange agreements. The pledged cash collateral (i.e., interest-bearing deposit asset) is netted against derivative assets and liabilities in the statements of condition. In addition, as of December 31, 2014, the Bank had pledged securities with a carrying value (and fair value) of $35,985,000 to a party that had credit risk exposure to the Bank related to interest rate exchange agreements. The pledged securities may be rehypothecated and are not netted against derivative assets and liabilities in the statement of condition. The Bank had not pledged any securities as collateral at December 31, 2013. | |||||||||||||
During the years ended December 31, 2014, 2013 and 2012, the Bank charged to operating expenses net rental costs of approximately $370,000, $377,000, and $362,000, respectively. Future minimum rentals at December 31, 2014, were as follows (in thousands): | |||||||||||||
Year | Premises | Equipment | Total | ||||||||||
2015 | $ | 243 | $ | 34 | $ | 277 | |||||||
2016 | 255 | — | 255 | ||||||||||
2017 | 265 | — | 265 | ||||||||||
2018 | 131 | — | 131 | ||||||||||
2019 | 34 | — | 34 | ||||||||||
Total | $ | 928 | $ | 34 | $ | 962 | |||||||
Lease agreements for Bank premises generally provide for increases in the base rentals resulting from increases in property taxes and maintenance expenses. These increases are not expected to have a material effect on the Bank. | |||||||||||||
The Bank has entered into certain lease agreements to rent space to outside parties in its building. Future minimum rentals under these operating leases at December 31, 2014 were as follows (in thousands): | |||||||||||||
Year | Total | ||||||||||||
2015 | $ | 1,394 | |||||||||||
2016 | 964 | ||||||||||||
2017 | 829 | ||||||||||||
2018 | 848 | ||||||||||||
2019 | 861 | ||||||||||||
Total | $ | 4,896 | |||||||||||
In the ordinary course of its business, the Bank is subject to the risk that litigation may arise. Currently, the Bank is not a party to any material pending legal proceedings. | |||||||||||||
For a discussion of other commitments and contingencies, see Notes 11, 12 and 15. |
Transactions_with_Shareholders
Transactions with Shareholders | 12 Months Ended |
Dec. 31, 2014 | |
Transactions with Shareholders [Abstract] | |
Transactions with Stockholders [Text Block] | Transactions with Shareholders |
As a cooperative, the Bank’s capital stock is owned by its members, former members that retain the stock as provided in the Bank’s capital plan or by non-member institutions that have acquired members and must retain the stock to support advances or other activities with the Bank. No shareholder owns more than 10% of the voting interests of the Bank due to statutory limits on members’ voting rights. Members are entitled to vote only for directors. As of December 31, 2014, 9 of the Bank’s 16 directors were member directors. By law, member directors must be officers or directors of a member of the Bank. | |
Substantially all of the Bank’s advances are made to its shareholders (while eligible to borrow from the Bank, housing associates are not required or allowed to hold capital stock). In addition, the majority of its mortgage loans held for portfolio were either funded by the Bank through, or purchased from, certain of its shareholders. The Bank maintains demand deposit accounts for shareholders primarily as an investment alternative for their excess cash and to facilitate settlement activities that are directly related to advances. As an additional service to members, the Bank also offers term deposit accounts. Further, the Bank offers interest rate swaps, caps and floors to its members. Periodically, the Bank may sell (or purchase) federal funds to (or from) shareholders and/or their affiliates. These transactions are executed on terms that are the same as those with other eligible third-party market participants, except that the Bank’s underwriting guidelines specify a lower minimum threshold for the amount of capital that members must have to be an eligible federal funds counterparty than non-members. The Bank has never held any direct equity investments in its shareholders or their affiliates. | |
Affiliates of two of the Bank’s derivative counterparties (Citigroup and Wells Fargo) acquired member institutions on March 31, 2005 and October 1, 2006, respectively. Since the acquisitions were completed, the Bank has continued to enter into interest rate exchange agreements with Citigroup and Wells Fargo in the normal course of business and under the same terms and conditions as before. Effective October 1, 2006, Citigroup terminated the Ninth District charter of the affiliate that acquired the member institution and, as a result, an affiliate of Citigroup became a non-member shareholder of the Bank. | |
The Bank did not purchase any debt or equity securities issued by any of its shareholders or their affiliates during the years ended December 31, 2014, 2013 or 2012. | |
All transactions with shareholders are entered into in the ordinary course of business. The Bank provides the same pricing for advances and other services to all similarly situated members regardless of asset or transaction size, charter type, or geographic location. | |
The Bank provides, in the ordinary course of its business, products and services to members whose officers or directors may serve as directors of the Bank (“Directors’ Financial Institutions”). Finance Agency regulations require that transactions with Directors’ Financial Institutions be made on the same terms as those with any other member. As of December 31, 2014 and 2013, advances outstanding to Directors’ Financial Institutions aggregated $1,235,101,000 and $452,000,000, respectively, representing 6.6 percent and 2.9 percent, respectively, of the Bank’s total outstanding advances as of those dates. The Bank did not acquire any mortgage loans from (or through) Directors’ Financial Institutions during the years ended December 31, 2014, 2013 or 2012. As of December 31, 2014 and 2013, capital stock outstanding to Directors’ Financial Institutions aggregated $60,031,000 and $24,000,000, respectively, representing 4.9 percent and 2.1 percent of the Bank’s outstanding capital stock, respectively. For purposes of this determination, the Bank’s outstanding capital stock includes those shares that are classified as mandatorily redeemable. |
Transactions_with_Other_FHLBan
Transactions with Other FHLBanks | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Transactions with Other FHLBanks [Abstract] | ||||||||||||
Transactions with Other FHLBanks [Text Block] | Transactions with Other FHLBanks | |||||||||||
Occasionally, the Bank loans (or borrows) short-term federal funds to (from) other FHLBanks. During the years ended December 31, 2014, 2013 and 2012, interest income on loans to other FHLBanks totaled $3,504, $2,031 and $744, respectively; these amounts are reported as interest income from federal funds sold in the statements of income. The following table summarizes the Bank’s loans to other FHLBanks during the years ended December 31, 2014, 2013 and 2012 (in thousands). | ||||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Balance, January 1, | $ | — | $ | — | $ | 35,000 | ||||||
Loans made to: | ||||||||||||
FHLBank of San Francisco | 1,365,000 | 475,000 | 200,000 | |||||||||
FHLBank of Des Moines | 60,000 | — | — | |||||||||
FHLBank of Atlanta | 60,000 | 200,000 | — | |||||||||
FHLBank of Indianapolis | — | 377,000 | — | |||||||||
Collections from: | ||||||||||||
FHLBank of San Francisco | (1,365,000 | ) | (475,000 | ) | (200,000 | ) | ||||||
FHLBank of Des Moines | (60,000 | ) | — | — | ||||||||
FHLBank of Topeka | — | — | (35,000 | ) | ||||||||
FHLBank of Atlanta | (60,000 | ) | (200,000 | ) | — | |||||||
FHLBank of Indianapolis | — | (377,000 | ) | — | ||||||||
Balance, December 31, | $ | — | $ | — | $ | — | ||||||
During the years ended December 31, 2014, 2013 and 2012, interest expense on borrowings from other FHLBanks totaled $1,958, $931 and $1,567, respectively. The following table summarizes the Bank’s borrowings from other FHLBanks during the years ended December 31, 2014, 2013 and 2012 (in thousands). | ||||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Balance, January 1, | $ | — | $ | — | $ | — | ||||||
Borrowings from: | ||||||||||||
FHLBank of Atlanta | 20,000 | — | — | |||||||||
FHLBank of Indianapolis | 90,000 | — | — | |||||||||
FHLBank of San Francisco | 565,000 | 500,000 | 420,000 | |||||||||
FHLBank of Topeka | 40,000 | — | 40,000 | |||||||||
FHLBank of Chicago | 90,000 | — | — | |||||||||
FHLBank of Seattle | — | — | 40,000 | |||||||||
Repayments to: | ||||||||||||
FHLBank of Atlanta | (20,000 | ) | — | — | ||||||||
FHLBank of Indianapolis | (90,000 | ) | — | — | ||||||||
FHLBank of San Francisco | (565,000 | ) | (500,000 | ) | (420,000 | ) | ||||||
FHLBank of Topeka | (40,000 | ) | — | (40,000 | ) | |||||||
FHLBank of Chicago | (90,000 | ) | — | — | ||||||||
FHLBank of Seattle | — | — | (40,000 | ) | ||||||||
Balance, December 31, | $ | — | $ | — | $ | — | ||||||
The Bank has, from time to time, assumed the outstanding debt of another FHLBank rather than issue new debt. In connection with these transactions, the Bank becomes the primary obligor for the transferred debt. The Bank did not assume any debt from other FHLBanks during the years ended December 31, 2014, 2013 or 2012. The Bank accounts for these transfers in the same manner as it accounts for new debt issuances (see Note 1). | ||||||||||||
Occasionally, the Bank transfers debt that it no longer needs to other FHLBanks. In connection with these transactions, the assuming FHLBanks become the primary obligors for the transferred debt. The Bank did not transfer any debt to other FHLBanks during the years ended December 31, 2014, 2013 or 2012. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||||||||||||||||
Comprehensive Income (Loss) Note [Text Block] | Accumulated Other Comprehensive Income (Loss) | |||||||||||||||
The following table presents the changes in the components of accumulated other comprehensive income (loss) for the years ended December 31, 2014, 2013 and 2012 (in thousands). | ||||||||||||||||
Net Unrealized | Non-Credit Portion of | Postretirement Benefits | Total Accumulated Other Comprehensive Income (Loss) | |||||||||||||
Gains (Losses) on | Other-than-Temporary | |||||||||||||||
Available-for-Sale | Impairment Losses on | |||||||||||||||
Securities (1) | Held-to-Maturity Securities | |||||||||||||||
Year ended December 31, 2014 | ||||||||||||||||
Balance at January 1, 2014 | $ | (868 | ) | $ | (33,200 | ) | $ | 1,427 | $ | (32,641 | ) | |||||
Reclassifications from accumulated other comprehensive income (loss) to net income | ||||||||||||||||
Reclassification adjustment for amortization of prior service costs and net actuarial gains recognized in compensation and benefits expense | — | — | (89 | ) | (89 | ) | ||||||||||
Other amounts of other comprehensive income (loss) | ||||||||||||||||
Net unrealized gains on available-for-sale securities | 23,280 | — | — | 23,280 | ||||||||||||
Non-credit portion of other-than-temporary impairment losses on held-to-maturity securities | — | (1,349 | ) | (1,349 | ) | |||||||||||
Accretion of non-credit portion of other-than-temporary impairment losses to the carrying value of held-to-maturity securities | — | 7,200 | — | 7,200 | ||||||||||||
Actuarial loss | — | — | (2 | ) | (2 | ) | ||||||||||
Total other comprehensive income (loss) | 23,280 | 5,851 | (91 | ) | 29,040 | |||||||||||
Balance at December 31, 2014 | $ | 22,412 | $ | (27,349 | ) | $ | 1,336 | $ | (3,601 | ) | ||||||
Year ended December 31, 2013 | ||||||||||||||||
Balance at January 1, 2013 | $ | 22,527 | $ | (41,437 | ) | $ | 665 | $ | (18,245 | ) | ||||||
Reclassifications from accumulated other comprehensive income (loss) to net income | ||||||||||||||||
Reclassification adjustment for amortization of prior service credits and net actuarial gains recognized in compensation and benefits expense | — | — | (94 | ) | (94 | ) | ||||||||||
Other amounts of other comprehensive income (loss) | ||||||||||||||||
Net unrealized losses on available-for-sale securities | (23,395 | ) | — | — | (23,395 | ) | ||||||||||
Accretion of non-credit portion of other-than-temporary impairment losses to the carrying value of held-to-maturity securities | — | 8,237 | — | 8,237 | ||||||||||||
Actuarial gain | — | — | 1,067 | 1,067 | ||||||||||||
Prior service cost | — | — | (211 | ) | (211 | ) | ||||||||||
Total other comprehensive income (loss) | (23,395 | ) | 8,237 | 762 | (14,396 | ) | ||||||||||
Balance at December 31, 2013 | $ | (868 | ) | $ | (33,200 | ) | $ | 1,427 | $ | (32,641 | ) | |||||
Net Unrealized | Non-Credit Portion of | Postretirement Benefits | Total Accumulated Other Comprehensive Income (Loss) | |||||||||||||
Gains (Losses) on | Other-than-Temporary | |||||||||||||||
Available-for-Sale | Impairment Losses on | |||||||||||||||
Securities (1) | Held-to-Maturity Securities | |||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||
Balance at January 1, 2012 | $ | 5,197 | $ | (51,429 | ) | $ | 617 | $ | (45,615 | ) | ||||||
Reclassifications from accumulated other comprehensive income (loss) to net income | ||||||||||||||||
Reclassification adjustment for non-credit portion of other-than-temporary impairment losses on held-to-maturity securities recognized as credit losses in net income | — | 351 | — | 351 | ||||||||||||
Reclassification adjustment for amortization of prior service credits and net actuarial gains recognized in compensation and benefits expense | — | — | (99 | ) | (99 | ) | ||||||||||
Other amounts of other comprehensive income (loss) | ||||||||||||||||
Net unrealized gains on available-for-sale securities | 17,330 | — | — | 17,330 | ||||||||||||
Non-credit portion of other-than-temporary impairment losses on held-to-maturity securities | — | (195 | ) | — | (195 | ) | ||||||||||
Accretion of non-credit portion of other-than-temporary impairment losses to the carrying value of held-to-maturity securities | — | 9,836 | — | 9,836 | ||||||||||||
Actuarial gain | — | — | 147 | 147 | ||||||||||||
Total other comprehensive income | 17,330 | 9,992 | 48 | 27,370 | ||||||||||||
Balance at December 31, 2012 | $ | 22,527 | $ | (41,437 | ) | $ | 665 | $ | (18,245 | ) | ||||||
(1) Net unrealized gains (losses) on available-for-sale securities are net of unrealized gains and losses relating to hedged interest rate risk included in net income. |
Other_Operating_Expenses
Other Operating Expenses | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Other Operating Expenses [Abstract] | ||||||||||||
Other Operating Expense Disclosure [Text Block] | Other Operating Expenses | |||||||||||
The following table presents the significant components of other operating expenses for the years ended December 31, 2014, 2013 and 2012 (in thousands). | ||||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Occupancy expense | $ | 2,607 | $ | 2,905 | $ | 2,973 | ||||||
Legal fees | 5,440 | 1,278 | 620 | |||||||||
Professional fees | 3,984 | 3,054 | 3,651 | |||||||||
Database fees | 3,181 | 3,259 | 3,268 | |||||||||
Software costs | 5,069 | 5,727 | 6,337 | |||||||||
Other | 10,127 | 9,749 | 10,554 | |||||||||
Total other operating expenses | $ | 30,408 | $ | 25,972 | $ | 27,403 | ||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2014 | |
Basis of Presentation [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates and Assumptions. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make assumptions and estimates. These assumptions and estimates may affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported amounts of income and expenses. Significant assumptions include those that are used by the Bank in its periodic evaluation of its holdings of non-agency residential mortgage-backed securities for other-than-temporary impairment. Significant estimates include the valuations of the Bank’s investment securities, as well as its derivative instruments and any associated hedged items. Actual results could differ from these estimates. |
Interest Bearing Deposits, Securities Purchased Under Agreements To Resell And Federal Funds Sold [Policy Text Block] | Federal Funds Sold, Securities Purchased Under Agreements to Resell and Interest-Bearing Deposits. These investments are carried at cost. |
Investment, Policy [Policy Text Block] | Investment Securities. The Bank records investment securities on trade date. The Bank carries investment securities for which it has both the ability and intent to hold to maturity (held-to-maturity securities) at cost, adjusted for the amortization of premiums and accretion of discounts using the level-yield method. The carrying amount of held-to-maturity securities is further adjusted for any other-than-temporary impairment charges, as described below. |
The Bank classifies certain investment securities that it may sell before maturity as available-for-sale and carries them at fair value. For available-for-sale securities that have been hedged (with fixed-for-floating interest rate swaps) and qualify as fair value hedges, the Bank records the portion of the change in value related to the risk being hedged in other income (loss) as “net gains (losses) on derivatives and hedging activities” together with the related change in the fair value of the derivative, and records the remainder of the change in value of the securities in other comprehensive income as “net unrealized gains (losses) on available-for-sale securities.” | |
The Bank classifies certain other investments as trading and carries them at fair value. The Bank records changes in the fair value of these investments in other income (loss) in the statements of income. Although the securities are classified as trading, the Bank does not engage in active or speculative trading practices. | |
The Bank computes the amortization and accretion of premiums and discounts on mortgage-backed securities for which prepayments are probable and reasonably estimable using the level-yield method over the estimated lives of the securities. This method requires a retrospective adjustment of the effective yield each time the Bank changes the estimated life as if the new estimate had been known since the original acquisition date of the securities. The Bank computes the amortization and accretion of premiums and discounts on other investments using the level-yield method to the contractual maturity of the securities. | |
The Bank computes gains and losses on sales of investment securities using the specific identification method and includes these gains and losses in other income (loss) in the statements of income. The Bank treats securities purchased under agreements to resell as collateralized financings. | |
The Bank evaluates outstanding available-for-sale and held-to-maturity securities for other-than-temporary impairment on at least a quarterly basis. An investment security is impaired if the fair value of the investment is less than its amortized cost. Amortized cost includes adjustments (if any) made to the cost basis of an investment for accretion, amortization, the credit portion of previous other-than-temporary impairments and hedging. The Bank considers the impairment of a debt security to be other than temporary if the Bank (i) intends to sell the security, (ii) more likely than not will be required to sell the security before recovering its amortized cost basis, or (iii) does not expect to recover the security’s entire amortized cost basis (even if the Bank does not intend to sell the security). Further, an impairment is considered to be other than temporary if the Bank’s best estimate of the present value of cash flows expected to be collected from the debt security is less than the amortized cost basis of the security (any such shortfall is referred to as a “credit loss”). | |
If an other-than-temporary impairment (“OTTI”) occurs because the Bank intends to sell an impaired debt security, or more likely than not will be required to sell the security before recovery of its amortized cost basis, the impairment is recognized currently in earnings in an amount equal to the entire difference between fair value and amortized cost. | |
In instances in which a determination is made that a credit loss exists but the Bank does not intend to sell the debt security and it is not more likely than not that the Bank will be required to sell the debt security before the anticipated recovery of its remaining amortized cost basis, the other-than-temporary impairment (i.e., the difference between the security’s then-current carrying amount and its estimated fair value) is separated into (i) the amount of the total impairment related to the credit loss (i.e., the credit component) and (ii) the amount of the total impairment related to all other factors (i.e., the non-credit component). The credit component is recognized in earnings and the non-credit component is recognized in other comprehensive income. The total other-than-temporary impairment is presented in the statement of income with an offset for the amount of the total other-than-temporary impairment that is recognized in other comprehensive income. | |
The non-credit component of any OTTI losses recognized in other comprehensive income for debt securities classified as held-to-maturity is accreted over the remaining life of the debt security (in a prospective manner based on the amount and timing of future estimated cash flows) as an increase in the carrying value of the security unless and until the security is sold, the security matures, or there is an additional other-than-temporary impairment that is recognized in earnings. In instances in which an additional other-than-temporary impairment is recognized in earnings, the amount of the credit loss is reclassified from accumulated other comprehensive income to earnings. Further, if an additional other-than-temporary impairment is recognized in earnings and the held-to-maturity security’s then-current carrying amount exceeds its fair value, an additional non-credit impairment is concurrently recognized in other comprehensive income. Conversely, if an additional other-than-temporary impairment is recognized in earnings and the held-to-maturity security’s then-current carrying value is less than its fair value, the carrying value of the security is not increased. In periods subsequent to the recognition of an OTTI loss, the other-than-temporarily impaired debt security is accounted for as if it had been purchased on the measurement date of the other-than-temporary impairment at an amount equal to the previous amortized cost basis less the other-than-temporary impairment recognized in earnings. The difference between the new amortized cost basis and the cash flows expected to be collected is accreted as interest income over the remaining life of the security in a prospective manner based on the amount and timing of future estimated cash flows. In instances when there is a significant increase in a security's expected cash flows, the amount to be accreted is adjusted prospectively. | |
Federal Home Loan Bank Advances Policy [Policy Text Block] | Advances. The Bank reports advances at their principal amount outstanding, net of unearned commitment fees and deferred prepayment fees, if any, as discussed below. The Bank credits interest on advances to income as earned. |
Finance, Loan and Lease Receivables, Held-for-investment, Policy [Policy Text Block] | Mortgage Loans Held for Portfolio. Through the Mortgage Partnership Finance® (“MPF”®) program offered by the FHLBank of Chicago, the Bank invested in government-guaranteed/insured mortgage loans (i.e., those insured or guaranteed by the Federal Housing Administration (“FHA”) or the Department of Veterans Affairs (“DVA”)) and conventional residential mortgage loans during the period from 1998 to mid-2003. These mortgage loans were originated by certain of its member institutions that participated in the MPF program ("Participating Financial Institutions" or “PFIs”). Under its then existing arrangement with the FHLBank of Chicago, the Bank retained title to the mortgage loans, subject to any participation interest in such loans that was sold to the FHLBank of Chicago; the interest in the loans retained by the Bank ranged from 1 percent to 49 percent. Additionally, during the period from 1998 to 2000, the Bank also acquired from the FHLBank of Chicago a percentage interest (ranging up to 75 percent) in certain MPF loans originated by PFIs of other FHLBanks. The Bank manages the liquidity, interest rate and prepayment risk of these loans, while the PFIs retain the servicing activities. The Bank and the PFIs share in the credit risk of the loans with the Bank assuming the first loss obligation limited by the First Loss Account (“FLA”), and the PFIs assuming credit losses in excess of the FLA, up to the amount of the credit enhancement obligation as specified in the master agreement (“Second Loss Credit Enhancement”). The Bank assumes all losses in excess of the Second Loss Credit Enhancement. |
Loans and Leases Receivable, Origination Fees, Discounts or Premiums, and Direct Costs to Acquire Loans Policy [Policy Text Block] | The Bank classifies mortgage loans held for portfolio as held for investment and, accordingly, reports them at their principal amount outstanding net of deferred premiums and discounts. The Bank credits interest on mortgage loans to income as earned. The Bank amortizes premiums and accretes discounts to interest income using the contractual method. The contractual method uses the cash flows required by the loan contracts, as adjusted for any actual prepayments, to apply the interest method. Future prepayments of principal are not anticipated under this method. The Bank has the ability and intent to hold these mortgage loans until maturity. |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Credit Losses. An allowance for credit losses is separately established for each of the Bank’s identified portfolio segments, if necessary, to provide for probable losses inherent in its financing receivables portfolio and other off-balance sheet credit exposures as of the balance sheet date. To the extent necessary, an allowance for credit losses for off-balance sheet credit exposures is recorded as a liability. See Note 8 — Allowance for Credit Losses for information regarding the determination of the allowance for credit losses. |
A portfolio segment is defined as the level at which an entity develops and documents a systematic method for determining its allowance for credit losses. The Bank has developed and documented a systematic methodology for determining an allowance for credit losses for the following portfolio segments: (1) advances and other extensions of credit to members, collectively referred to as “extensions of credit to members;” (2) government-guaranteed/insured mortgage loans held for portfolio; and (3) conventional mortgage loans held for portfolio. | |
Classes of financing receivables are generally a disaggregation of a portfolio segment and are determined on the basis of their initial measurement attribute, the risk characteristics of the financing receivable and an entity’s method for monitoring and assessing credit risk. Because the credit risk arising from the Bank’s financing receivables is assessed and measured at the portfolio segment level, the Bank does not have separate classes of financing receivables within each of its portfolio segments. | |
Loans and Leases Receivable, Nonaccrual Loan and Lease Status, Policy [Policy Text Block] | The Bank places a conventional mortgage loan on nonaccrual status when the collection of the contractual principal or interest is 90 days or more past due. When a mortgage loan is placed on nonaccrual status, accrued but uncollected interest is reversed against interest income. The Bank records cash payments received on nonaccrual loans first as interest income until it recovers all interest, and then as a reduction of principal. A loan on nonaccrual status is restored to accrual status when none of its contractual principal and interest is due and unpaid, and the Bank expects repayment of the remaining contractual interest and principal. Government-guaranteed/insured loans are not placed on nonaccrual status. |
A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect all amounts due according to the contractual terms of the loan agreement. Collateral-dependent loans that are on nonaccrual status are measured for impairment based on the fair value of the underlying property less estimated selling costs. Loans are considered collateral-dependent if repayment is expected to be provided solely by the sale of the underlying property; that is, there is no other available and reliable source of repayment. A collateral-dependent loan is impaired if the fair value of the underlying collateral is insufficient to recover the unpaid principal balance on the loan. Interest income on impaired loans is recognized in the same manner as it is for nonaccrual loans noted above. | |
The Bank evaluates whether to record a charge-off on a conventional mortgage loan upon the occurrence of a confirming event. Confirming events include, but are not limited to, the occurrence of foreclosure or notification of a claim against any of the credit enhancements. A charge-off is recorded if the recorded investment in the loan will not be recovered. | |
Finance, Loan and Lease Receivables, Held for Investments, Foreclosed Assets Policy [Policy Text Block] | Real Estate Owned. Real estate owned includes assets that have been received in satisfaction of debt or as a result of actual or in-substance foreclosures. Real estate owned is initially recorded at fair value less estimated costs to sell (and subsequently carried at the lower of cost or fair value less estimated costs to sell) and is included in other assets in the statements of condition. If the fair value of the real estate owned less estimated costs to sell is less than the recorded investment in the mortgage loan at the date of transfer, the Bank recognizes a charge-off to the allowance for loan losses. Subsequent realized gains and realized or unrealized losses are included in other income (loss) in the statements of income. |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment. The Bank records premises and equipment at cost less accumulated depreciation and amortization. At December 31, 2014 and 2013, the Bank’s accumulated depreciation and amortization relating to premises and equipment was $34,991,000 and $34,443,000, respectively. The Bank computes depreciation using the straight-line method over the estimated useful lives of assets ranging from 3 to 39 years. It amortizes leasehold improvements on the straight-line basis over the shorter of the estimated useful life of the improvement or the remaining term of the lease. The Bank capitalizes improvements and major renewals but expenses ordinary maintenance and repairs when incurred. Depreciation and amortization expense was $2,050,000, $2,449,000 and $3,295,000 during the years ended December 31, 2014, 2013 and 2012, respectively. The Bank includes gains and losses on disposal of premises and equipment, if any, in other income (loss) under the caption “other, net.” |
Internal Use Software, Policy [Policy Text Block] | Computer Software. The cost of purchased computer software and certain costs incurred in developing computer software for internal use are capitalized and amortized over future periods. As of December 31, 2014 and 2013, the Bank had $1,287,000 and $1,997,000, respectively, in unamortized computer software costs included in other assets. Amortization of computer software costs charged to expense was $1,513,000, $2,171,000 and $2,751,000 for the years ended December 31, 2014, 2013 and 2012, respectively. |
Derivatives, Policy [Policy Text Block] | Derivatives and Hedging Activities. The Bank accounts for derivatives and hedging activities in accordance with the guidance in Topic 815 of the Financial Accounting Standards Board’s ("FASB") Accounting Standards Codification entitled “Derivatives and Hedging” (“ASC 815”). All derivatives are recognized on the statements of condition at their fair values, including accrued interest receivable and payable. For purposes of reporting derivative assets and derivative liabilities, the Bank offsets the fair value amounts recognized for derivative instruments (including the right to reclaim cash collateral and the obligation to return cash collateral) where a legally enforceable right of setoff exists. |
Changes in the fair value of a derivative that is effective as — and that is designated and qualifies as — a fair value hedge, along with changes in the fair value of the hedged asset or liability that are attributable to the hedged risk (including changes that reflect gains or losses on firm commitments), are recorded in current period earnings. Any hedge ineffectiveness (which represents the amount by which the change in the fair value of the derivative differs from the change in the fair value of the hedged item) is recorded in other income (loss) as “net gains (losses) on derivatives and hedging activities.” Net interest income/expense associated with derivatives that qualify for fair value hedge accounting under ASC 815 is recorded as a component of net interest income. An economic hedge is defined as a derivative hedging specific or non-specific assets or liabilities that does not qualify or was not designated for hedge accounting under ASC 815, but is an acceptable hedging strategy under the Bank’s Enterprise Market Risk Management Policy. These hedging strategies also comply with Finance Agency regulatory requirements prohibiting speculative derivative transactions. An economic hedge by definition introduces the potential for earnings variability as changes in the fair value of a derivative designated as an economic hedge are recorded in current period earnings with no offsetting fair value adjustment to an asset or liability. Both the net interest income/expense and the fair value changes associated with derivatives in economic hedging relationships are recorded in other income (loss) as “net gains (losses) on derivatives and hedging activities.” Cash flows associated with derivatives are reported as cash flows from operating activities in the statements of cash flows, unless the derivatives contain an other-than-insignificant financing element, in which case the cash flows are reported as cash flows from financing activities. | |
If hedging relationships meet certain criteria specified in ASC 815, they are eligible for hedge accounting and the offsetting changes in fair value of the hedged items may be recorded in earnings. The application of hedge accounting generally requires the Bank to evaluate the effectiveness of the hedging relationships on an ongoing basis and to calculate the changes in fair value of the derivatives and related hedged items independently. This is commonly known as the “long-haul” method of accounting. Transactions that meet more stringent criteria qualify for the “shortcut” method of hedge accounting in which an assumption can be made that the change in fair value of a hedged item exactly offsets the change in value of the related derivative. The Bank considers hedges of committed advances to be eligible for the shortcut method of accounting as long as the settlement of the committed advance occurs within the shortest period possible for that type of instrument based on market settlement conventions, the fair value of the swap is zero at the inception of the hedging relationship, and the transaction meets all of the other criteria for shortcut accounting specified in ASC 815. The Bank has defined the market settlement convention to be five business days or less for advances. The Bank records the changes in fair value of the derivative and the hedged item beginning on the trade date. | |
The Bank may issue debt, make advances, or purchase financial instruments in which a derivative instrument is “embedded” and the financial instrument that embodies the embedded derivative instrument is not remeasured at fair value with changes in fair value reported in earnings as they occur. Upon execution of these transactions, the Bank assesses whether the economic characteristics of the embedded derivative are clearly and closely related to the economic characteristics of the remaining component of the financial instrument (i.e., the host contract) and whether a separate, non-embedded instrument with the same terms as the embedded instrument would meet the definition of a derivative instrument. When it is determined that (1) the embedded derivative possesses economic characteristics that are not clearly and closely related to the economic characteristics of the host contract and (2) a separate, stand-alone instrument with the same terms would qualify as a derivative instrument, the embedded derivative is separated from the host contract, carried at fair value, and designated as either (1) a hedging instrument in a fair value hedge or (2) a stand-alone derivative instrument pursuant to an economic hedge. However, if the entire contract were to be measured at fair value, with changes in fair value reported in current earnings, or if the Bank could not reliably identify and measure the embedded derivative for purposes of separating that derivative from its host contract, the entire contract would be carried on the statement of condition at fair value and no portion of the contract would be separately accounted for as a derivative. | |
The Bank discontinues hedge accounting prospectively when: (1) management determines that the derivative is no longer effective in offsetting changes in the fair value of a hedged item; (2) the derivative and/or the hedged item expires or is sold, terminated, or exercised; (3) a hedged firm commitment no longer meets the definition of a firm commitment; or (4) management determines that designating the derivative as a hedging instrument in accordance with ASC 815 is no longer appropriate. | |
When fair value hedge accounting for a specific derivative is discontinued due to the Bank’s determination that such derivative no longer qualifies for hedge accounting treatment, the Bank will continue to carry the derivative on the statement of condition at its fair value, cease to adjust the hedged asset or liability for changes in fair value, and amortize the cumulative basis adjustment on the formerly hedged item into earnings over its remaining term using the level-yield method. In all cases in which hedge accounting is discontinued and the derivative remains outstanding, the Bank will carry the derivative at its fair value on the statement of condition, recognizing changes in the fair value of the derivative in current period earnings. | |
When hedge accounting is discontinued because the hedged item no longer meets the definition of a firm commitment, the Bank continues to carry the derivative on the statement of condition at its fair value, removing from the statement of condition any asset or liability that was recorded to recognize the firm commitment and recording it as a gain or loss in current period earnings. | |
Derivatives, Offsetting Fair Value Amounts, Policy [Policy Text Block] | For purposes of reporting derivative assets and derivative liabilities, the Bank offsets the fair value amounts recognized for derivative instruments (including the right to reclaim cash collateral and the obligation to return cash collateral) where a legally enforceable right of setoff exists. |
Derivatives, Embedded Derivatives [Policy Text Block] | The Bank may issue debt, make advances, or purchase financial instruments in which a derivative instrument is “embedded” and the financial instrument that embodies the embedded derivative instrument is not remeasured at fair value with changes in fair value reported in earnings as they occur. Upon execution of these transactions, the Bank assesses whether the economic characteristics of the embedded derivative are clearly and closely related to the economic characteristics of the remaining component of the financial instrument (i.e., the host contract) and whether a separate, non-embedded instrument with the same terms as the embedded instrument would meet the definition of a derivative instrument. When it is determined that (1) the embedded derivative possesses economic characteristics that are not clearly and closely related to the economic characteristics of the host contract and (2) a separate, stand-alone instrument with the same terms would qualify as a derivative instrument, the embedded derivative is separated from the host contract, carried at fair value, and designated as either (1) a hedging instrument in a fair value hedge or (2) a stand-alone derivative instrument pursuant to an economic hedge. However, if the entire contract were to be measured at fair value, with changes in fair value reported in current earnings, or if the Bank could not reliably identify and measure the embedded derivative for purposes of separating that derivative from its host contract, the entire contract would be carried on the statement of condition at fair value and no portion of the contract would be separately accounted for as a derivative. |
Derivatives, Hedge Discontinuances [Policy Text Block] | The Bank discontinues hedge accounting prospectively when: (1) management determines that the derivative is no longer effective in offsetting changes in the fair value of a hedged item; (2) the derivative and/or the hedged item expires or is sold, terminated, or exercised; (3) a hedged firm commitment no longer meets the definition of a firm commitment; or (4) management determines that designating the derivative as a hedging instrument in accordance with ASC 815 is no longer appropriate. |
When fair value hedge accounting for a specific derivative is discontinued due to the Bank’s determination that such derivative no longer qualifies for hedge accounting treatment, the Bank will continue to carry the derivative on the statement of condition at its fair value, cease to adjust the hedged asset or liability for changes in fair value, and amortize the cumulative basis adjustment on the formerly hedged item into earnings over its remaining term using the level-yield method. In all cases in which hedge accounting is discontinued and the derivative remains outstanding, the Bank will carry the derivative at its fair value on the statement of condition, recognizing changes in the fair value of the derivative in current period earnings. | |
When hedge accounting is discontinued because the hedged item no longer meets the definition of a firm commitment, the Bank continues to carry the derivative on the statement of condition at its fair value, removing from the statement of condition any asset or liability that was recorded to recognize the firm commitment and recording it as a gain or loss in current period earnings. | |
Shares Subject to Mandatory Redemption, Changes in Redemption Value, Policy [Policy Text Block] | Mandatorily Redeemable Capital Stock. The Bank reclassifies shares of capital stock from the capital section to the liability section of its statement of condition at the point in time when a member submits a written redemption notice, gives notice of its intent to withdraw from membership, or becomes a non-member by merger or acquisition, charter termination, or involuntary termination from membership, as the shares of capital stock then meet the definition of a mandatorily redeemable financial instrument. Shares of capital stock meeting this definition are reclassified to liabilities at fair value. Following reclassification of the stock, any dividends paid or accrued on such shares are recorded as interest expense in the statement of income. Repurchase or redemption of these mandatorily redeemable financial instruments is reported as a cash outflow in the financing activities section of the statement of cash flows. |
If a member cancels a written redemption or withdrawal notice, the Bank reclassifies the shares subject to the cancellation notice from liabilities back to equity. Following this reclassification to equity, dividends on the capital stock are once again recorded as a reduction of retained earnings. | |
Although mandatorily redeemable capital stock is excluded from capital for financial reporting purposes, it is considered capital for regulatory purposes. See Note 14 for more information, including restrictions on stock redemption. | |
Federal Home Loan Bank Assessments, Policy [Policy Text Block] | Affordable Housing Program. The FHLB Act requires each FHLBank to establish and fund an Affordable Housing Program (“AHP”) (see Note 11). The Bank charges the required funding for AHP to earnings and establishes a liability. The Bank makes AHP funds available to members in the form of direct grants to assist in the purchase, construction, or rehabilitation of housing for very low-, low-, and moderate-income households. |
Prepayment fees on Federal Home Loan Bank Advances, Policy [Policy Text Block] | Prepayment Fees. The Bank charges a prepayment fee when members/borrowers prepay certain advances before their original maturities. The Bank records prepayment fees received from members/borrowers net of hedging adjustments included in the book basis of the prepaid advance, if any, as interest income on advances in the statements of income either immediately (as prepayment fees on advances) or over time (as interest income on advances), as further described below. In cases in which the Bank funds a new advance concurrent with or within a short period of time before or after the prepayment of an existing advance, the Bank evaluates whether the new advance meets the accounting criteria to qualify as a modification of an existing advance. If the new advance qualifies as a modification of the existing advance, the net prepayment fee on the prepaid advance is deferred, recorded in the basis of the modified advance, and amortized into interest income over the life of the modified advance using the level-yield method. This amortization is recorded in interest income on advances. If the Bank determines that the advance should be treated as a new advance, or in instances where no new advance is funded, it records the net fees as “prepayment fees on advances” in the interest income section of the statements of income. |
Loans and Leases Receivable, Commitment Fee Policy | Commitment Fees. The Bank defers commitment fees for advances and, with the exception of those fees associated with certain optional advance commitments described in Note 16, amortizes them to interest income using the level-yield method over the life of the advance. The Bank records commitment fees for letters of credit as a deferred credit when it receives the fees and amortizes them over the term of the letter of credit using the straight-line method. |
Debt, Policy [Policy Text Block] | Concessions on Consolidated Obligations. The Bank defers and amortizes, using the level-yield method, the amounts paid to securities dealers in connection with the sale of consolidated obligation bonds over the term to maturity of the related bonds. The Office of Finance prorates the amount of the concession to the Bank based upon the percentage of the debt issued that is assumed by the Bank. Unamortized concessions were $2,179,000 and $1,798,000 at December 31, 2014 and 2013, respectively, and are included in other assets on the statements of condition. Amortization of such concessions is included in consolidated obligation bond interest expense and totaled $2,111,000, $1,732,000 and $3,898,000 during the years ended December 31, 2014, 2013 and 2012, respectively. The Bank charges to expense as incurred the concessions applicable to the sale of consolidated obligation discount notes because of the short maturities of these notes. Concessions related to the sale of discount notes totaling $870,000, $209,000 and $579,000 are included in interest expense on consolidated obligation discount notes in the statements of income for the years ended December 31, 2014, 2013 and 2012, respectively. |
Discounts and Premiums on Consolidated Obligations. The Bank expenses the discounts on consolidated obligation discount notes using the level-yield method over the term to maturity of the related notes. It accretes the discounts and amortizes the premiums on consolidated obligation bonds to expense using the level-yield method over the term to maturity of the bonds. | |
Regulator and Office of Finance, Costs Assessed on Federal Home Loan Bank, Policy [Policy Text Block] | Finance Agency and Office of Finance Expenses. The Bank is assessed its proportionate share of the costs of operating the Finance Agency and the Office of Finance. The assessment for the FHLBanks’ portion of the Finance Agency’s operating and capital expenditures is allocated among the FHLBanks based on the ratio between each FHLBank’s minimum required regulatory capital and the aggregate minimum required regulatory capital of all FHLBanks determined as of June 30 of each year. The expenses of the Office of Finance are shared on a pro rata basis with two-thirds based on each FHLBank’s total consolidated obligations outstanding (as of the current month-end) and one-third divided equally among the 12 FHLBanks. These costs are included in the other expense section of the statements of income. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Estimated Fair Values. Some of the Bank’s financial instruments (e.g., advances) lack an available trading market characterized by transactions between a willing buyer and a willing seller engaging in an exchange transaction. Therefore, the Bank uses internal models employing assumptions regarding interest rates, volatilities, prepayments, and other factors to perform present-value calculations when disclosing estimated fair values for these financial instruments. The Bank assumes that book value approximates fair value for certain financial instruments with three months or less to repricing or maturity. For a discussion of the Bank's valuation techniques and the estimated fair values of its financial instruments, see Note 16. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash Flows. In the statements of cash flows, the Bank considers cash and due from banks as cash and cash equivalents. |
Trading_Securities_Tables
Trading Securities (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Trading Securities [Abstract] | ||||||||
Trading Securities [Table Text Block] | Major Security Types. Trading securities as of December 31, 2014 and 2013 were as follows (in thousands): | |||||||
December 31, 2014 | December 31, 2013 | |||||||
U.S. Treasury Bills | $ | 399,794 | $ | 999,505 | ||||
Other | 8,769 | 8,252 | ||||||
Total | $ | 408,563 | $ | 1,007,757 | ||||
AvailableforSale_Securities_Ta
Available-for-Sale Securities (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||||||||||||||||||||||||||
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | Available-for-sale securities as of December 31, 2014 were as follows (in thousands): | ||||||||||||||||||||||||||||||||
Amortized | Gross Unrealized Gains | Gross | Estimated | ||||||||||||||||||||||||||||||
Cost | Unrealized | Fair | |||||||||||||||||||||||||||||||
Losses | Value | ||||||||||||||||||||||||||||||||
Debentures | |||||||||||||||||||||||||||||||||
U.S. government-guaranteed obligations | $ | 49,666 | $ | 308 | $ | — | $ | 49,974 | |||||||||||||||||||||||||
GSE obligations | 4,890,484 | 31,066 | — | 4,921,550 | |||||||||||||||||||||||||||||
Other | 411,145 | 701 | 535 | 411,311 | |||||||||||||||||||||||||||||
5,351,295 | 32,075 | 535 | 5,382,835 | ||||||||||||||||||||||||||||||
GSE commercial MBS | 1,014,795 | 322 | 9,450 | 1,005,667 | |||||||||||||||||||||||||||||
Total | $ | 6,366,090 | $ | 32,397 | $ | 9,985 | $ | 6,388,502 | |||||||||||||||||||||||||
Available-for-sale securities as of December 31, 2013 were as follows (in thousands): | |||||||||||||||||||||||||||||||||
Amortized | Gross Unrealized Gains | Gross | Estimated | ||||||||||||||||||||||||||||||
Cost | Unrealized | Fair | |||||||||||||||||||||||||||||||
Losses | Value | ||||||||||||||||||||||||||||||||
Debentures | |||||||||||||||||||||||||||||||||
U.S. government-guaranteed obligations | $ | 54,195 | $ | 48 | $ | 101 | $ | 54,142 | |||||||||||||||||||||||||
GSE obligations | 4,965,468 | 6,111 | 6,201 | 4,965,378 | |||||||||||||||||||||||||||||
Other | 436,898 | 418 | 1,143 | 436,173 | |||||||||||||||||||||||||||||
Total | $ | 5,456,561 | $ | 6,577 | $ | 7,445 | $ | 5,455,693 | |||||||||||||||||||||||||
Categories of Investments, Marketable Securities, Available-for-sale Securities [Member] | |||||||||||||||||||||||||||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||||||||||||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | The following table summarizes (in thousands, except number of positions) the available-for-sale securities with unrealized losses as of December 31, 2014. The unrealized losses are aggregated by major security type and length of time that individual securities have been in a continuous loss position. | ||||||||||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||
Number of | Estimated | Gross | Number of | Estimated | Gross | Number of | Estimated | Gross | |||||||||||||||||||||||||
Positions | Fair | Unrealized | Positions | Fair | Unrealized | Positions | Fair | Unrealized | |||||||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||||||||||
Debentures | |||||||||||||||||||||||||||||||||
Other | 18 | $ | 163,153 | $ | 535 | — | $ | — | $ | — | 18 | $ | 163,153 | $ | 535 | ||||||||||||||||||
GSE commercial MBS | 29 | 863,159 | 9,450 | — | — | — | 29 | 863,159 | 9,450 | ||||||||||||||||||||||||
Total | 47 | $ | 1,026,312 | $ | 9,985 | — | $ | — | $ | — | 47 | $ | 1,026,312 | $ | 9,985 | ||||||||||||||||||
The following table summarizes (in thousands, except number of positions) the available-for-sale securities with unrealized losses as of December 31, 2013. The unrealized losses are aggregated by major security type and length of time that individual securities have been in a continuous loss position. | |||||||||||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||
Number of | Estimated | Gross | Number of | Estimated | Gross | Number of | Estimated | Gross | |||||||||||||||||||||||||
Positions | Fair | Unrealized | Positions | Fair | Unrealized | Positions | Fair | Unrealized | |||||||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||||||||||
Debentures | |||||||||||||||||||||||||||||||||
U.S. government-guaranteed obligations | 2 | $ | 24,063 | $ | 101 | — | $ | — | $ | — | 2 | $ | 24,063 | $ | 101 | ||||||||||||||||||
GSE obligations | 108 | 1,628,306 | 6,201 | — | — | — | 108 | 1,628,306 | 6,201 | ||||||||||||||||||||||||
Other | 22 | 192,549 | 1,070 | 3 | 14,754 | 73 | 25 | 207,303 | 1,143 | ||||||||||||||||||||||||
Total | 132 | $ | 1,844,918 | $ | 7,372 | 3 | $ | 14,754 | $ | 73 | 135 | $ | 1,859,672 | $ | 7,445 | ||||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | The amortized cost and estimated fair value of available-for-sale securities by contractual maturity at December 31, 2014 and 2013 are presented below (in thousands). | ||||||||||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||
Maturity | Amortized Cost | Estimated | Amortized Cost | Estimated | |||||||||||||||||||||||||||||
Fair Value | Fair Value | ||||||||||||||||||||||||||||||||
Debentures | |||||||||||||||||||||||||||||||||
Due in one year or less | $ | 87,379 | $ | 87,418 | $ | 26,842 | $ | 26,851 | |||||||||||||||||||||||||
Due after one year through five years | 4,224,231 | 4,245,122 | 3,910,837 | 3,914,956 | |||||||||||||||||||||||||||||
Due after five years through ten years | 1,039,685 | 1,050,295 | 1,518,882 | 1,513,886 | |||||||||||||||||||||||||||||
5,351,295 | 5,382,835 | 5,456,561 | 5,455,693 | ||||||||||||||||||||||||||||||
GSE commercial MBS | 1,014,795 | 1,005,667 | — | — | |||||||||||||||||||||||||||||
Total | $ | 6,366,090 | $ | 6,388,502 | $ | 5,456,561 | $ | 5,455,693 | |||||||||||||||||||||||||
Schedule of Interest Rate Payment Terms For Investments [Table Text Block] | The following table provides interest rate payment terms for investment securities classified as available-for-sale at December 31, 2014 and 2013 (in thousands): | ||||||||||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||
Amortized cost of available-for-sale securities other than MBS | |||||||||||||||||||||||||||||||||
Fixed-rate | $ | 5,276,295 | $ | 5,381,561 | |||||||||||||||||||||||||||||
Variable-rate | 75,000 | 75,000 | |||||||||||||||||||||||||||||||
5,351,295 | 5,456,561 | ||||||||||||||||||||||||||||||||
Amortized cost of fixed-rate multi-family MBS | 1,014,795 | — | |||||||||||||||||||||||||||||||
Total | $ | 6,366,090 | $ | 5,456,561 | |||||||||||||||||||||||||||||
HeldtoMaturity_Securities_Tabl
Held-to-Maturity Securities (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||
Schedule of Held-to-maturity Securities [Line Items] | |||||||||||||||||||||||||||||||||
Held-to-maturity Securities [Table Text Block] | Held-to-maturity securities as of December 31, 2014 were as follows (in thousands): | ||||||||||||||||||||||||||||||||
Amortized | OTTI Recorded in | Carrying | Gross | Gross | Estimated | ||||||||||||||||||||||||||||
Cost | Accumulated Other | Value | Unrecognized | Unrecognized | Fair | ||||||||||||||||||||||||||||
Comprehensive | Holding | Holding | Value | ||||||||||||||||||||||||||||||
Income (Loss) | Gains | Losses | |||||||||||||||||||||||||||||||
Debentures | |||||||||||||||||||||||||||||||||
U.S. government-guaranteed obligations | $ | 27,119 | $ | — | $ | 27,119 | $ | 143 | $ | — | $ | 27,262 | |||||||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||||||||||||||||
U.S. government-guaranteed residential MBS | 6,642 | — | 6,642 | 34 | — | 6,676 | |||||||||||||||||||||||||||
GSE residential MBS | 4,424,542 | — | 4,424,542 | 46,767 | 398 | 4,470,911 | |||||||||||||||||||||||||||
Non-agency residential MBS | 169,240 | 27,349 | 141,891 | 21,982 | 3,469 | 160,404 | |||||||||||||||||||||||||||
GSE commercial MBS | 61,819 | — | 61,819 | 58 | — | 61,877 | |||||||||||||||||||||||||||
4,662,243 | 27,349 | 4,634,894 | 68,841 | 3,867 | 4,699,868 | ||||||||||||||||||||||||||||
Total | $ | 4,689,362 | $ | 27,349 | $ | 4,662,013 | $ | 68,984 | $ | 3,867 | $ | 4,727,130 | |||||||||||||||||||||
Held-to-maturity securities as of December 31, 2013 were as follows (in thousands): | |||||||||||||||||||||||||||||||||
Amortized | OTTI Recorded in | Carrying | Gross | Gross | Estimated | ||||||||||||||||||||||||||||
Cost | Accumulated Other | Value | Unrecognized | Unrecognized | Fair | ||||||||||||||||||||||||||||
Comprehensive | Holding | Holding | Value | ||||||||||||||||||||||||||||||
Income (Loss) | Gains | Losses | |||||||||||||||||||||||||||||||
Debentures | |||||||||||||||||||||||||||||||||
U.S. government-guaranteed obligations | $ | 32,689 | $ | — | $ | 32,689 | $ | 126 | $ | 156 | $ | 32,659 | |||||||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||||||||||||||||
U.S. government-guaranteed residential MBS | 10,110 | — | 10,110 | 58 | — | 10,168 | |||||||||||||||||||||||||||
GSE residential MBS | 4,990,347 | — | 4,990,347 | 46,734 | 4,683 | 5,032,398 | |||||||||||||||||||||||||||
Non-agency residential MBS | 198,603 | 33,200 | 165,403 | 17,794 | — | 183,197 | |||||||||||||||||||||||||||
5,199,060 | 33,200 | 5,165,860 | 64,586 | 4,683 | 5,225,763 | ||||||||||||||||||||||||||||
Total | $ | 5,231,749 | $ | 33,200 | $ | 5,198,549 | $ | 64,712 | $ | 4,839 | $ | 5,258,422 | |||||||||||||||||||||
Categories of Investments, Marketable Securities, Held-to-maturity Securities [Member] | |||||||||||||||||||||||||||||||||
Schedule of Held-to-maturity Securities [Line Items] | |||||||||||||||||||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | The following table summarizes (in thousands, except number of positions) the held-to-maturity securities with unrealized losses as of December 31, 2014. The unrealized losses include other-than-temporary impairments recorded in accumulated other comprehensive income (loss) and gross unrecognized holding losses (or, in the case of the Bank's holdings of non-agency residential MBS, gross unrecognized holding gains) and are aggregated by major security type and length of time that individual securities have been in a continuous loss position. | ||||||||||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||
Number of | Estimated | Gross | Number of | Estimated | Gross | Number of | Estimated | Gross | |||||||||||||||||||||||||
Positions | Fair | Unrealized | Positions | Fair | Unrealized | Positions | Fair | Unrealized | |||||||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||||||||||||||||
GSE residential MBS | 1 | $ | 10,798 | $ | 5 | 17 | $ | 485,626 | $ | 393 | 18 | $ | 496,424 | $ | 398 | ||||||||||||||||||
Non-agency residential MBS | 1 | 6,874 | 223 | 24 | 131,265 | 9,917 | 25 | 138,139 | 10,140 | ||||||||||||||||||||||||
Total | 2 | $ | 17,672 | $ | 228 | 41 | $ | 616,891 | $ | 10,310 | 43 | $ | 634,563 | $ | 10,538 | ||||||||||||||||||
The following table summarizes (in thousands, except number of positions) the held-to-maturity securities with unrealized losses as of December 31, 2013. The unrealized losses include other-than-temporary impairments recorded in accumulated other comprehensive income (loss) and gross unrecognized holding losses (or, in the case of the Bank's holdings of non-agency residential MBS, gross unrecognized holding gains) and are aggregated by major security type and length of time that individual securities have been in a continuous loss position. | |||||||||||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||
Number of | Estimated | Gross | Number of | Estimated | Gross | Number of | Estimated | Gross | |||||||||||||||||||||||||
Positions | Fair | Unrealized | Positions | Fair | Unrealized | Positions | Fair | Unrealized | |||||||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||||||||||
Debentures | |||||||||||||||||||||||||||||||||
U.S. government-guaranteed obligations | — | $ | — | $ | — | 2 | $ | 16,157 | $ | 156 | 2 | $ | 16,157 | $ | 156 | ||||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||||||||||||||||
GSE residential MBS | 42 | 1,591,628 | 4,353 | 13 | 102,236 | 330 | 55 | 1,693,864 | 4,683 | ||||||||||||||||||||||||
Non-agency residential MBS | 1 | 10,210 | 80 | 27 | 157,101 | 16,033 | 28 | 167,311 | 16,113 | ||||||||||||||||||||||||
43 | 1,601,838 | 4,433 | 40 | 259,337 | 16,363 | 83 | 1,861,175 | 20,796 | |||||||||||||||||||||||||
Total | 43 | $ | 1,601,838 | $ | 4,433 | 42 | $ | 275,494 | $ | 16,519 | 85 | $ | 1,877,332 | $ | 20,952 | ||||||||||||||||||
Schedule of Other Than Temporarily Impaired Charges Incurred During Life of the Securities [Table Text Block] | The following table sets forth additional information for each of the securities that was deemed to be other-than-temporarily impaired in 2009, 2010, 2011, 2012 and/or 2014 (in thousands). All of the Bank's non-agency RMBS are rated by Moody's, S&P and/or Fitch. The credit ratings presented in the table represent the lowest rating assigned to the security by any of these NRSROs as of December 31, 2014. | ||||||||||||||||||||||||||||||||
31-Dec-14 | Cumulative from Period of Initial Impairment Through December 31, 2014 | December 31, 2014 | |||||||||||||||||||||||||||||||
Period of | Credit Rating | Unpaid | Amortized | Non-Credit | Accretion of | Carrying | Estimated | ||||||||||||||||||||||||||
Initial | Principal | Cost | Component of | Non-Credit | Value | Fair | |||||||||||||||||||||||||||
Impairment | Balance | OTTI | Component | Value | |||||||||||||||||||||||||||||
Security #1 | Q1 2009 | Triple-C | $ | 11,950 | $ | 9,411 | $ | 10,271 | $ | 8,175 | $ | 7,315 | $ | 10,025 | |||||||||||||||||||
Security #2 | Q1 2009 | Triple-C | 11,672 | 10,972 | 12,389 | 8,907 | 7,490 | 10,443 | |||||||||||||||||||||||||
Security #3 | Q2 2009 | Single-D | 15,100 | 11,550 | 15,283 | 12,340 | 8,607 | 12,240 | |||||||||||||||||||||||||
Security #4 | Q2 2009 | Triple-C | 7,815 | 7,097 | 7,890 | 5,914 | 5,121 | 6,874 | |||||||||||||||||||||||||
Security #5 | Q3 2009 | Triple-C | 14,379 | 12,648 | 10,047 | 7,705 | 10,306 | 12,425 | |||||||||||||||||||||||||
Security #6 | Q3 2009 | Triple-C | 12,485 | 11,076 | 10,567 | 7,578 | 8,087 | 10,979 | |||||||||||||||||||||||||
Security #7 | Q3 2009 | Single-B | 4,348 | 4,267 | 3,575 | 2,462 | 3,154 | 4,012 | |||||||||||||||||||||||||
Security #8 | Q1 2010 | Single-B | 6,694 | 6,671 | 4,968 | 3,355 | 5,058 | 6,065 | |||||||||||||||||||||||||
Security #9 | Q1 2010 | Triple-C | 2,923 | 2,885 | 2,208 | 1,511 | 2,188 | 2,582 | |||||||||||||||||||||||||
Security #10 | Q4 2010 | Triple-C | 5,687 | 5,260 | 3,331 | 1,912 | 3,841 | 4,944 | |||||||||||||||||||||||||
Security #11 | Q4 2010 | Triple-C | 6,889 | 6,885 | 4,096 | 2,445 | 5,234 | 6,048 | |||||||||||||||||||||||||
Security #12 | Q4 2010 | Triple-C | 3,680 | 3,595 | 1,820 | 1,058 | 2,833 | 3,269 | |||||||||||||||||||||||||
Security #13 | Q4 2010 | Triple-C | 4,407 | 4,392 | 2,418 | 1,550 | 3,524 | 4,095 | |||||||||||||||||||||||||
Security #14 | Q2 2011 | Triple-C | 9,580 | 9,347 | 5,942 | 3,893 | 7,298 | 8,037 | |||||||||||||||||||||||||
Security #15 | Q4 2014 | Single-B | 12,527 | 12,490 | 1,349 | — | 11,141 | 11,141 | |||||||||||||||||||||||||
Totals | $ | 130,136 | $ | 118,546 | $ | 96,154 | $ | 68,805 | $ | 91,197 | $ | 113,179 | |||||||||||||||||||||
Schedule of Significant Inputs In Measuring Other Than Temporary Impairments Recognized In Earnings [Table Text Block] | For the security for which an other-than-temporary impairment was determined to have occurred as of December 31, 2014, the following table presents a summary of the significant inputs used to measure the amount of the credit loss recognized in earnings (dollars in thousands): | ||||||||||||||||||||||||||||||||
Significant Inputs(2) | |||||||||||||||||||||||||||||||||
Year of | Collateral | Unpaid Principal Balance as of December 31, 2014 | Quarterly Period of Most Recent | Projected Prepayment | Projected Default | Projected Loss | Current Credit Enhancement as of December 31, 2014(3) | ||||||||||||||||||||||||||
Securitization | Type(1) | Impairment | Rate | Rate | Severity | ||||||||||||||||||||||||||||
Security #15 | 2005 | Alt-A/Option ARM | $ | 12,527 | Q4 2014 | 7.8 | % | 22 | % | 38.7 | % | 34.3 | % | ||||||||||||||||||||
________________________________________ | |||||||||||||||||||||||||||||||||
(1) | Although Security #15 was not labeled as Alt-A at the time of issuance, based upon its current collateral and performance characteristics, this other-than-temporarily impaired security was analyzed using Alt-A assumptions. | ||||||||||||||||||||||||||||||||
(2) | The prepayment rate reflects the weighted average of projected future voluntary prepayments. The default rate reflects the total balance of loans projected to default as a percentage of the current unpaid principal balance of the underlying loan pool. The loss severity reflects the total projected loan losses as a percentage of the total balance of loans that are projected to default. | ||||||||||||||||||||||||||||||||
(3) | The current credit enhancement percentage reflects the ability of subordinated classes of securities to absorb principal losses and interest shortfalls before the senior class held by the Bank is impacted (i.e., the losses, expressed as a percentage of the outstanding principal balances, that could be incurred in the underlying loan pool before the security held by the Bank would be impacted, assuming that all of those losses occurred on the measurement date). Depending upon the timing and amount of losses in the underlying loan pool, it is possible that the senior class held by the Bank could bear losses in scenarios where the cumulative loan losses do not exceed the current credit enhancement percentage. | ||||||||||||||||||||||||||||||||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Table Text Block] | The following table presents a rollforward for the years ended December 31, 2014, 2013 and 2012 of the amount related to credit losses on the Bank’s non-agency RMBS holdings for which a portion of an other-than-temporary impairment was recognized in other comprehensive income (in thousands). | ||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Balance of credit losses, beginning of year | $ | 12,901 | $ | 13,039 | $ | 12,679 | |||||||||||||||||||||||||||
Credit losses on securities for which an other-than-temporary impairment was not previously recognized | 37 | — | — | ||||||||||||||||||||||||||||||
Credit losses on securities for which an other-than-temporary impairment was previously recognized | — | — | 360 | ||||||||||||||||||||||||||||||
Increases in cash flows expected to be collected (accreted as interest income over the remaining lives of the applicable securities) | (426 | ) | (138 | ) | — | ||||||||||||||||||||||||||||
Balance of credit losses, end of year | 12,512 | 12,901 | 13,039 | ||||||||||||||||||||||||||||||
Cumulative principal shortfalls on securities held at end of year | (1,210 | ) | (684 | ) | — | ||||||||||||||||||||||||||||
Cumulative amortization of the time value of credit losses at end of year | 293 | 233 | 163 | ||||||||||||||||||||||||||||||
Credit losses included in the amortized cost bases of other-than-temporarily impaired securities at end of year | $ | 11,595 | $ | 12,450 | $ | 13,202 | |||||||||||||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | The amortized cost, carrying value and estimated fair value of held-to-maturity securities by contractual maturity at December 31, 2014 and 2013 are presented below (in thousands). The expected maturities of some debentures could differ from the contractual maturities presented because issuers may have the right to call such debentures prior to their final stated maturities. | ||||||||||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||
Maturity | Amortized Cost | Carrying Value | Estimated Fair Value | Amortized Cost | Carrying Value | Estimated Fair Value | |||||||||||||||||||||||||||
Debentures | |||||||||||||||||||||||||||||||||
Due after one year through five years | $ | 12,544 | $ | 12,544 | $ | 12,649 | $ | 16,376 | $ | 16,376 | $ | 16,502 | |||||||||||||||||||||
Due after five years through ten years | 14,575 | 14,575 | 14,613 | 8,483 | 8,483 | 8,411 | |||||||||||||||||||||||||||
Due after ten years | — | — | — | 7,830 | 7,830 | 7,746 | |||||||||||||||||||||||||||
27,119 | 27,119 | 27,262 | 32,689 | 32,689 | 32,659 | ||||||||||||||||||||||||||||
Mortgage-backed securities | 4,662,243 | 4,634,894 | 4,699,868 | 5,199,060 | 5,165,860 | 5,225,763 | |||||||||||||||||||||||||||
Total | $ | 4,689,362 | $ | 4,662,013 | $ | 4,727,130 | $ | 5,231,749 | $ | 5,198,549 | $ | 5,258,422 | |||||||||||||||||||||
Schedule of Interest Rate Payment Terms For Investments [Table Text Block] | The following table provides interest rate payment terms for investment securities classified as held-to-maturity at December 31, 2014 and 2013 (in thousands): | ||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Amortized cost of variable-rate held-to-maturity securities other than mortgage-backed securities | $ | 27,119 | $ | 32,689 | |||||||||||||||||||||||||||||
Amortized cost of held-to-maturity mortgage-backed securities | |||||||||||||||||||||||||||||||||
Fixed-rate pass-through securities | 276 | 344 | |||||||||||||||||||||||||||||||
Collateralized mortgage obligations | |||||||||||||||||||||||||||||||||
Fixed-rate | 624 | 847 | |||||||||||||||||||||||||||||||
Variable-rate | 4,599,524 | 5,197,869 | |||||||||||||||||||||||||||||||
Variable-rate multi-family MBS | 61,819 | — | |||||||||||||||||||||||||||||||
4,662,243 | 5,199,060 | ||||||||||||||||||||||||||||||||
Total | $ | 4,689,362 | $ | 5,231,749 | |||||||||||||||||||||||||||||
Advances_Tables
Advances (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Advances [Abstract] | |||||||||||||||
Federal Home Loan Bank, Advances [Table Text Block] | At December 31, 2014 and 2013, the Bank had advances outstanding at interest rates ranging from 0.05 percent to 8.48 percent and 0.05 percent to 8.61 percent, respectively, as summarized below (dollars in thousands). | ||||||||||||||
2014 | 2013 | ||||||||||||||
Contractual Maturity | Amount | Weighted | Amount | Weighted | |||||||||||
Average | Average | ||||||||||||||
Interest Rate | Interest Rate | ||||||||||||||
Overdrawn demand deposit accounts | $ | 79,477 | 4.04 | % | $ | 3,499 | 4.07 | % | |||||||
Due in one year or less | 11,908,892 | 0.31 | 8,343,704 | 0.34 | |||||||||||
Due after one year through two years | 1,085,057 | 1.46 | 1,386,230 | 1.78 | |||||||||||
Due after two years through three years | 1,590,017 | 2.39 | 822,497 | 1.79 | |||||||||||
Due after three years through four years | 1,085,640 | 2.4 | 1,376,579 | 2.9 | |||||||||||
Due after four years through five years | 417,243 | 2.22 | 1,075,960 | 2.43 | |||||||||||
Due after five years | 901,184 | 2.99 | 789,625 | 3.14 | |||||||||||
Amortizing advances | 1,727,505 | 3.45 | 1,997,270 | 3.64 | |||||||||||
Total par value | 18,795,015 | 1.14 | % | 15,795,364 | 1.46 | % | |||||||||
Deferred prepayment fees | (17,903 | ) | (15,916 | ) | |||||||||||
Commitment fees | (139 | ) | (111 | ) | |||||||||||
Hedging adjustments | 165,427 | 199,608 | |||||||||||||
Total | $ | 18,942,400 | $ | 15,978,945 | |||||||||||
Schedule of Advances Classified by Contractual Maturity Date or Next Call Date [Table Text Block] | The following table summarizes advances outstanding at December 31, 2014 and December 31, 2013, by the earlier of contractual maturity or next call date, or the first date on which prepayable advances can be repaid without a prepayment fee (in thousands): | ||||||||||||||
Contractual Maturity or Next Call Date | 31-Dec-14 | 31-Dec-13 | |||||||||||||
Overdrawn demand deposit accounts | $ | 79,477 | $ | 3,499 | |||||||||||
Due in one year or less | 11,993,262 | 8,343,704 | |||||||||||||
Due after one year through two years | 1,053,687 | 1,386,230 | |||||||||||||
Due after two years through three years | 1,590,017 | 822,497 | |||||||||||||
Due after three years through four years | 1,085,640 | 1,376,579 | |||||||||||||
Due after four years through five years | 414,243 | 1,075,960 | |||||||||||||
Due after five years | 851,184 | 789,625 | |||||||||||||
Amortizing advances | 1,727,505 | 1,997,270 | |||||||||||||
Total par value | $ | 18,795,015 | $ | 15,795,364 | |||||||||||
Schedule of Advances Classified by Contractual Maturity Date or Next Put Date [Table Text Block] | The following table summarizes advances at December 31, 2014 and 2013, by the earlier of contractual maturity or next possible put date (in thousands): | ||||||||||||||
Contractual Maturity or Next Put Date | 2014 | 2013 | |||||||||||||
Overdrawn demand deposit accounts | $ | 79,477 | $ | 3,499 | |||||||||||
Due in one year or less | 13,258,963 | 9,961,774 | |||||||||||||
Due after one year through two years | 1,062,557 | 1,230,230 | |||||||||||||
Due after two years through three years | 990,896 | 799,997 | |||||||||||||
Due after three years through four years | 397,190 | 677,459 | |||||||||||||
Due after four years through five years | 377,243 | 375,510 | |||||||||||||
Due after five years | 901,184 | 749,625 | |||||||||||||
Amortizing advances | 1,727,505 | 1,997,270 | |||||||||||||
Total par value | $ | 18,795,015 | $ | 15,795,364 | |||||||||||
Schedule of Federal Home Loan Bank Advances by Interest Rate Payment Terms [Table Text Block] | The following table provides interest rate payment terms for advances outstanding at December 31, 2014 and 2013 (in thousands): | ||||||||||||||
2014 | 2013 | ||||||||||||||
Fixed-rate | |||||||||||||||
Due in one year or less | $ | 11,573,066 | $ | 7,352,066 | |||||||||||
Due after one year | 6,694,902 | 7,390,799 | |||||||||||||
Total fixed-rate | 18,267,968 | 14,742,865 | |||||||||||||
Variable-rate | |||||||||||||||
Due in one year or less | 426,477 | 1,008,499 | |||||||||||||
Due after one year | 100,570 | 44,000 | |||||||||||||
Total variable-rate | 527,047 | 1,052,499 | |||||||||||||
Total par value | $ | 18,795,015 | $ | 15,795,364 | |||||||||||
Mortgage_Loans_Held_for_Portfo1
Mortgage Loans Held for Portfolio (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Mortgage Loans Held for Portfolio [Abstract] | ||||||||
Mortgage Loans Held For Portfolio [Table Text Block] | The following table presents information as of December 31, 2014 and 2013 for mortgage loans held for portfolio (in thousands): | |||||||
2014 | 2013 | |||||||
Fixed-rate medium-term* single-family mortgages | $ | 9,332 | $ | 15,613 | ||||
Fixed-rate long-term single-family mortgages | 61,838 | 75,137 | ||||||
Premiums | 473 | 639 | ||||||
Discounts | (89 | ) | (114 | ) | ||||
Total mortgage loans held for portfolio | $ | 71,554 | $ | 91,275 | ||||
________________________________________ | ||||||||
*Medium-term is defined as an original term of 15 years or less. |
Allowance_for_Credit_Losses_Ta
Allowance for Credit Losses (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Allowance for Credit Losses [Abstract] | ||||||||||||||||||||||||
Past Due Financing Receivables [Table Text Block] | The table below summarizes the unpaid principal balance by payment status for mortgage loans at December 31, 2014 and 2013 (dollars in thousands). The unpaid principal balance approximates the recorded investment in the loans. | |||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Conventional Loans | Government- | Total | Conventional Loans | Government- | Total | |||||||||||||||||||
Guaranteed/ | Guaranteed/ | |||||||||||||||||||||||
Insured Loans | Insured Loans | |||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||
30-59 days delinquent | $ | 1,409 | $ | 2,276 | $ | 3,685 | $ | 973 | $ | 3,390 | $ | 4,363 | ||||||||||||
60-89 days delinquent | 531 | 400 | 931 | 406 | 712 | 1,118 | ||||||||||||||||||
90 days or more delinquent | 316 | 299 | 615 | 694 | 253 | 947 | ||||||||||||||||||
Total past due | 2,256 | 2,975 | 5,231 | 2,073 | 4,355 | 6,428 | ||||||||||||||||||
Total current loans | 31,510 | 34,429 | 65,939 | 41,575 | 42,747 | 84,322 | ||||||||||||||||||
Total mortgage loans | $ | 33,766 | $ | 37,404 | $ | 71,170 | $ | 43,648 | $ | 47,102 | $ | 90,750 | ||||||||||||
Other delinquency statistics: | ||||||||||||||||||||||||
In process of foreclosure(1) | $ | 79 | $ | — | $ | 79 | $ | 426 | $ | 21 | $ | 447 | ||||||||||||
Serious delinquency rate (2) | 0.9 | % | 0.8 | % | 0.9 | % | 1.6 | % | 0.5 | % | 1 | % | ||||||||||||
Past due 90 days or more and still accruing interest (3) | $ | — | $ | 299 | $ | 299 | $ | — | $ | 253 | $ | 253 | ||||||||||||
Nonaccrual loans | $ | 316 | $ | — | $ | 316 | $ | 694 | $ | — | $ | 694 | ||||||||||||
Troubled debt restructurings | $ | 116 | $ | — | $ | 116 | $ | 143 | $ | — | $ | 143 | ||||||||||||
________________________________________ | ||||||||||||||||||||||||
(1) | Includes loans where the decision of foreclosure or similar alternative such as pursuit of deed-in-lieu has been made. | |||||||||||||||||||||||
(2) | Loans that are 90 days or more past due or in the process of foreclosure expressed as a percentage of the loan portfolio. | |||||||||||||||||||||||
(3) | Only government-guaranteed/insured mortgage loans continue to accrue interest after they become 90 days or more past due. | |||||||||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | The following table presents the activity in the allowance for credit losses on conventional mortgage loans held for portfolio during the years ended December 31, 2014, 2013 and 2012 (in thousands): | |||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Balance, beginning of year | $ | 165 | $ | 183 | $ | 192 | ||||||||||||||||||
Chargeoffs | (22 | ) | (18 | ) | (9 | ) | ||||||||||||||||||
Balance, end of year | $ | 143 | $ | 165 | $ | 183 | ||||||||||||||||||
Allowance for Credit Losses and Recorded Investment by Impairment Methodology [Table Text Block] | The following table presents information regarding the balances of the Bank's conventional mortgage loans held for portfolio that were individually or collectively evaluated for impairment as well as information regarding the ending balance of the allowance for credit losses as of December 31, 2014 and 2013 (in thousands). | |||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Ending balance of allowance for credit losses related to loans collectively evaluated for impairment | $ | 143 | $ | 165 | ||||||||||||||||||||
Unpaid principal balance | ||||||||||||||||||||||||
Individually evaluated for impairment | $ | 432 | $ | 816 | ||||||||||||||||||||
Collectively evaluated for impairment | 33,334 | 42,832 | ||||||||||||||||||||||
$ | 33,766 | $ | 43,648 | |||||||||||||||||||||
Deposits_Tables
Deposits (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Deposits [Abstract] | ||||||||
Schedule of Deposit Liabilities by Component [Table Text Block] | The following table details interest-bearing and non-interest bearing deposits as of December 31, 2014 and 2013 (in thousands): | |||||||
2014 | 2013 | |||||||
Interest-bearing | ||||||||
Demand and overnight | $ | 698,136 | $ | 790,053 | ||||
Term | 99,254 | 95,585 | ||||||
Non-interest bearing (other) | 24 | 29 | ||||||
Total deposits | $ | 797,414 | $ | 885,667 | ||||
Consolidated_Obligations_Table
Consolidated Obligations (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||
Schedule of Consolidated Obligation Bonds By Interest Rate Payment Terms [Table Text Block] | The following table summarizes the Bank’s consolidated obligation bonds outstanding by interest rate payment terms at December 31, 2014 and 2013 (in thousands, at par value). | ||||||||||||||
2014 | 2013 | ||||||||||||||
Fixed-rate | $ | 8,377,640 | $ | 12,857,160 | |||||||||||
Variable-rate | 4,471,000 | 6,021,000 | |||||||||||||
Step-up | 3,112,500 | 2,585,000 | |||||||||||||
Step-down | 150,000 | 125,000 | |||||||||||||
Total par value | $ | 16,111,140 | $ | 21,588,160 | |||||||||||
Schedule of Maturities of Long-term Debt [Table Text Block] | The following is a summary of the Bank’s consolidated obligation bonds outstanding at December 31, 2014 and 2013, by contractual maturity (dollars in thousands): | ||||||||||||||
2014 | 2013 | ||||||||||||||
Contractual Maturity | Amount | Weighted | Amount | Weighted | |||||||||||
Average | Average | ||||||||||||||
Interest Rate | Interest Rate | ||||||||||||||
Due in one year or less | $ | 6,225,840 | 0.58 | % | $ | 11,262,745 | 0.79 | % | |||||||
Due after one year through two years | 2,790,080 | 1.19 | 4,370,840 | 0.78 | |||||||||||
Due after two years through three years | 1,537,000 | 0.95 | 1,280,000 | 1.96 | |||||||||||
Due after three years through four years | 1,847,000 | 1.94 | 425,000 | 1.03 | |||||||||||
Due after four years through five years | 1,172,500 | 1.49 | 1,262,000 | 2.2 | |||||||||||
Due after five years | 2,538,720 | 2.06 | 2,987,575 | 1.88 | |||||||||||
Total par value | 16,111,140 | 1.18 | % | 21,588,160 | 1.09 | % | |||||||||
Premiums | 6,345 | 34,241 | |||||||||||||
Discounts | (3,486 | ) | (4,650 | ) | |||||||||||
Hedging adjustments | (35,299 | ) | (131,039 | ) | |||||||||||
Total | $ | 16,078,700 | $ | 21,486,712 | |||||||||||
Schedule of Consolidated Obligation Bonds by Call Feature [Table Text Block] | At December 31, 2014 and 2013, the Bank’s consolidated obligation bonds outstanding included the following (in thousands, at par value): | ||||||||||||||
2014 | 2013 | ||||||||||||||
Non-callable bonds | $ | 8,504,920 | $ | 16,780,585 | |||||||||||
Callable bonds | 7,606,220 | 4,807,575 | |||||||||||||
Total par value | $ | 16,111,140 | $ | 21,588,160 | |||||||||||
Schedule of Maturities of Consolidated Obligation Bonds by Contractual or Next Call Date [Table Text Block] | The following table summarizes the Bank’s consolidated obligation bonds outstanding at December 31, 2014 and 2013, by the earlier of contractual maturity or next possible call date (in thousands, at par value): | ||||||||||||||
Contractual Maturity or Next Call Date | 2014 | 2013 | |||||||||||||
Due in one year or less | $ | 13,772,060 | $ | 15,930,320 | |||||||||||
Due after one year through two years | 1,645,080 | 4,365,840 | |||||||||||||
Due after two years through three years | 152,000 | 715,000 | |||||||||||||
Due after three years through four years | 437,000 | 50,000 | |||||||||||||
Due after four years through five years | 25,000 | 422,000 | |||||||||||||
Due after five years | 80,000 | 105,000 | |||||||||||||
Total par value | $ | 16,111,140 | $ | 21,588,160 | |||||||||||
Schedule of Short-term Debt [Table Text Block] | At December 31, 2014 and 2013, the Bank’s consolidated obligation discount notes, all of which are due within one year, were as follows (dollars in thousands): | ||||||||||||||
Book Value | Par Value | Weighted | |||||||||||||
Average Implied | |||||||||||||||
Interest Rate | |||||||||||||||
December 31, 2014 | $ | 19,131,832 | $ | 19,134,303 | 0.09 | % | |||||||||
December 31, 2013 | $ | 5,984,530 | $ | 5,985,100 | 0.09 | % | |||||||||
Affordable_Housing_Program_Tab
Affordable Housing Program (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Affordable Housing Program [Abstract] | ||||||||||||
Schedule of Activity in Affordable Housing Program Obligation [Table Text Block] | The following table summarizes the changes in the Bank’s AHP liability during the years ended December 31, 2014, 2013 and 2012 (in thousands): | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Balance, beginning of year | $ | 31,864 | $ | 29,620 | $ | 32,313 | ||||||
AHP assessment | 5,391 | 9,766 | 9,090 | |||||||||
Grants funded, net of recaptured amounts | (11,257 | ) | (7,522 | ) | (11,783 | ) | ||||||
Balance, end of year | $ | 25,998 | $ | 31,864 | $ | 29,620 | ||||||
Assets_and_Liabilities_Subject1
Assets and Liabilities Subject to Offsetting (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Assets and Liabilities Subject to Offsetting [Abstract] | |||||||||||||||||||||
Offsetting Assets and Liabilities [Table Text Block] | The following table presents derivative instruments and securities purchased under agreements to resell with the legal right of offset, including the related collateral received from or pledged to counterparties as of December 31, 2014 and 2013 (in thousands). | ||||||||||||||||||||
Gross Amounts of Recognized Financial Instruments | Gross Amounts Offset in the Statement of Condition | Net Amounts Presented in the Statement of Condition | Collateral Not Offset in the Statement of Condition (1) | Net Unsecured Amount | |||||||||||||||||
31-Dec-14 | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Derivatives | |||||||||||||||||||||
Bilateral derivatives | $ | 31,666 | $ | (21,212 | ) | $ | 10,454 | $ | (9,746 | ) | (2) | $ | 708 | ||||||||
Cleared derivatives | 6,574 | (6,574 | ) | — | — | — | |||||||||||||||
Total derivatives | 38,240 | (27,786 | ) | 10,454 | (9,746 | ) | 708 | ||||||||||||||
Securities purchased under agreements to resell | 350,000 | — | 350,000 | (350,000 | ) | — | |||||||||||||||
Total assets | $ | 388,240 | $ | (27,786 | ) | $ | 360,454 | $ | (359,746 | ) | $ | 708 | |||||||||
Liabilities | |||||||||||||||||||||
Derivatives | |||||||||||||||||||||
Bilateral derivatives | $ | 629,920 | $ | (611,348 | ) | $ | 18,572 | $ | — | $ | 18,572 | ||||||||||
Cleared derivatives | 58,653 | (55,704 | ) | 2,949 | (2,949 | ) | (3) | — | |||||||||||||
Total liabilities | $ | 688,573 | $ | (667,052 | ) | $ | 21,521 | $ | (2,949 | ) | $ | 18,572 | |||||||||
31-Dec-13 | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Derivatives | |||||||||||||||||||||
Bilateral derivatives | $ | 80,901 | $ | (67,133 | ) | $ | 13,768 | $ | (4,454 | ) | (4) | $ | 9,314 | ||||||||
Cleared derivatives | 3,149 | (1,008 | ) | 2,141 | — | 2,141 | |||||||||||||||
Total assets | $ | 84,050 | $ | (68,141 | ) | $ | 15,909 | $ | (4,454 | ) | $ | 11,455 | |||||||||
Liabilities | |||||||||||||||||||||
Derivatives | |||||||||||||||||||||
Bilateral derivatives | $ | 900,725 | $ | (889,734 | ) | $ | 10,991 | $ | — | $ | 10,991 | ||||||||||
Cleared derivatives | 647 | (647 | ) | — | — | — | |||||||||||||||
Total liabilities | $ | 901,372 | $ | (890,381 | ) | $ | 10,991 | $ | — | $ | 10,991 | ||||||||||
_____________________________ | |||||||||||||||||||||
-1 | Any overcollateralization at an individual clearinghouse/clearing member or bilateral counterparty level is not included in the determination of the net unsecured amount. | ||||||||||||||||||||
-2 | Consists of $9,746,000 of collateral pledged by member counterparties. | ||||||||||||||||||||
(3) | In addition to this amount, the Bank had pledged securities with a fair value of $33,036,000 to secure its cleared derivatives, which is a result of the initial margin requirements imposed upon the Bank. | ||||||||||||||||||||
(4) | Consists of $1,651,000 of securities pledged by a non-member bilateral counterparty and $2,803,000 of collateral pledged by member counterparties. |
Derivatives_and_Hedging_Activi1
Derivatives and Hedging Activities (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | The following table summarizes the notional balances and estimated fair values of the Bank’s outstanding derivatives at December 31, 2014 and 2013 (in thousands). | |||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Notional | Estimated Fair Value | Notional | Estimated Fair Value | |||||||||||||||||||||
Amount of | Amount of | |||||||||||||||||||||||
Derivatives | Derivative | Derivative | Derivatives | Derivative | Derivative | |||||||||||||||||||
Assets | Liabilities | Assets | Liabilities | |||||||||||||||||||||
Derivatives designated as hedging | ||||||||||||||||||||||||
instruments under ASC 815 | ||||||||||||||||||||||||
Interest rate swaps | ||||||||||||||||||||||||
Advances | $ | 4,936,984 | $ | 4,641 | $ | 183,285 | $ | 4,795,978 | $ | 15,874 | $ | 234,882 | ||||||||||||
Available-for-sale securities | 5,877,601 | 401 | 462,501 | 4,924,934 | 19,739 | 521,470 | ||||||||||||||||||
Consolidated obligation bonds | 10,102,140 | 15,610 | 28,046 | 13,473,160 | 31,233 | 138,590 | ||||||||||||||||||
Interest rate caps related to advances | 25,000 | — | — | 25,000 | 2 | — | ||||||||||||||||||
Total derivatives designated as | 20,941,725 | 20,652 | 673,832 | 23,219,072 | 66,848 | 894,942 | ||||||||||||||||||
hedging instruments under ASC 815 | ||||||||||||||||||||||||
Derivatives not designated as hedging | ||||||||||||||||||||||||
instruments under ASC 815 | ||||||||||||||||||||||||
Interest rate swaps | ||||||||||||||||||||||||
Advances | 1,500 | 4 | — | — | — | — | ||||||||||||||||||
Available-for-sale securities | 1,000 | — | 32 | — | — | — | ||||||||||||||||||
Basis swaps | — | — | — | 3,700,000 | 9,610 | — | ||||||||||||||||||
Intermediary transactions | 950,000 | 14,864 | 13,413 | 117,648 | 3,461 | 3,208 | ||||||||||||||||||
Interest rate caps | ||||||||||||||||||||||||
Held-to-maturity securities | 2,900,000 | 1,424 | — | 4,100,000 | 909 | — | ||||||||||||||||||
Intermediary transactions | 80,000 | 1,296 | 1,296 | 110,000 | 3,222 | 3,222 | ||||||||||||||||||
Total derivatives not designated as | 3,932,500 | 17,588 | 14,741 | 8,027,648 | 17,202 | 6,430 | ||||||||||||||||||
hedging instruments under ASC 815 | ||||||||||||||||||||||||
Total derivatives before collateral and netting adjustments | $ | 24,874,225 | 38,240 | 688,573 | $ | 31,246,720 | 84,050 | 901,372 | ||||||||||||||||
Cash collateral and related accrued interest | (251 | ) | (639,517 | ) | (2,519 | ) | (824,759 | ) | ||||||||||||||||
Netting adjustments | (27,535 | ) | (27,535 | ) | (65,622 | ) | (65,622 | ) | ||||||||||||||||
Total collateral and netting adjustments(1) | (27,786 | ) | (667,052 | ) | (68,141 | ) | (890,381 | ) | ||||||||||||||||
Net derivative balances reported in statements of condition | $ | 10,454 | $ | 21,521 | $ | 15,909 | $ | 10,991 | ||||||||||||||||
________________________________________ | ||||||||||||||||||||||||
(1) | Amounts represent the effect of legally enforceable master netting agreements or other legally enforceable arrangements between the Bank and its derivative counterparties that allow the Bank to offset positive and negative positions as well as the cash collateral held or placed with those same counterparties. | |||||||||||||||||||||||
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | The following table presents the components of net gains (losses) on derivatives and hedging activities as presented in the statements of income for the years ended December 31, 2014, 2013 and 2012 (in thousands). | |||||||||||||||||||||||
Gain (Loss) Recognized in Earnings | ||||||||||||||||||||||||
for the Year Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Derivatives and hedged items in ASC 815 fair value hedging relationships | ||||||||||||||||||||||||
Interest rate swaps | $ | (3,082 | ) | $ | 4,999 | $ | (7,818 | ) | ||||||||||||||||
Interest rate caps | (2 | ) | (6 | ) | (91 | ) | ||||||||||||||||||
Total net gain (loss) related to fair value hedge ineffectiveness | (3,084 | ) | 4,993 | (7,909 | ) | |||||||||||||||||||
Derivatives not designated as hedging instruments under ASC 815 | ||||||||||||||||||||||||
Net interest income on interest rate swaps | 1,362 | 3,633 | 10,410 | |||||||||||||||||||||
Interest rate swaps | ||||||||||||||||||||||||
Advances | (144 | ) | 189 | 16 | ||||||||||||||||||||
Available-for-sale securities | 411 | — | — | |||||||||||||||||||||
Consolidated obligation bonds | 126 | (769 | ) | 2,565 | ||||||||||||||||||||
Consolidated obligation discount notes | — | — | 784 | |||||||||||||||||||||
Basis swaps | 2,337 | (2,977 | ) | (8,081 | ) | |||||||||||||||||||
Intermediary transactions | 1,170 | 28 | 20 | |||||||||||||||||||||
Interest rate swaptions related to optional advance commitments | — | — | (1,947 | ) | ||||||||||||||||||||
Interest rate caps | ||||||||||||||||||||||||
Held-to-maturity securities | (2,601 | ) | (616 | ) | (3,458 | ) | ||||||||||||||||||
Intermediary transactions | — | — | 12 | |||||||||||||||||||||
Total net gain (loss) related to derivatives not designated as hedging instruments under ASC 815 | 2,661 | (512 | ) | 321 | ||||||||||||||||||||
Net gains (losses) on derivatives and hedging activities reported in the statements of income | $ | (423 | ) | $ | 4,481 | $ | (7,588 | ) | ||||||||||||||||
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | The following table presents, by type of hedged item, the gains (losses) on derivatives and the related hedged items in ASC 815 fair value hedging relationships and the impact of those derivatives on the Bank’s net interest income for the years ended December 31, 2014, 2013 and 2012 (in thousands). | |||||||||||||||||||||||
Hedged Item | Gain (Loss) on | Gain (Loss) on | Net Fair Value Hedge | Derivative Net Interest | ||||||||||||||||||||
Derivatives | Hedged Items | Ineffectiveness(1) | Income (Expense)(2) | |||||||||||||||||||||
Year ended December 31, 2014 | ||||||||||||||||||||||||
Advances | $ | 18,468 | $ | (19,293 | ) | $ | (825 | ) | $ | (105,885 | ) | |||||||||||||
Available-for-sale securities | (61,063 | ) | 58,419 | (2,644 | ) | (80,808 | ) | |||||||||||||||||
Consolidated obligation bonds | 96,746 | (96,361 | ) | 385 | 115,928 | |||||||||||||||||||
Total | $ | 54,151 | $ | (57,235 | ) | $ | (3,084 | ) | $ | (70,765 | ) | |||||||||||||
Year ended December 31, 2013 | ||||||||||||||||||||||||
Advances | $ | 207,392 | $ | (207,228 | ) | $ | 164 | $ | (134,615 | ) | ||||||||||||||
Available-for-sale securities | 188,915 | (185,697 | ) | 3,218 | (80,569 | ) | ||||||||||||||||||
Consolidated obligation bonds | (185,479 | ) | 187,090 | 1,611 | 118,656 | |||||||||||||||||||
Total | $ | 210,828 | $ | (205,835 | ) | $ | 4,993 | $ | (96,528 | ) | ||||||||||||||
Year ended December 31, 2012 | ||||||||||||||||||||||||
Advances | $ | 24,077 | $ | (26,090 | ) | $ | (2,013 | ) | $ | (168,773 | ) | |||||||||||||
Available-for-sale securities | (129,478 | ) | 124,011 | (5,467 | ) | (71,435 | ) | |||||||||||||||||
Consolidated obligation bonds | (64,397 | ) | 63,968 | (429 | ) | 152,196 | ||||||||||||||||||
Total | $ | (169,798 | ) | $ | 161,889 | $ | (7,909 | ) | $ | (88,012 | ) | |||||||||||||
________________________________________ | ||||||||||||||||||||||||
(1) | Reported as net gains (losses) on derivatives and hedging activities in the statements of income. | |||||||||||||||||||||||
(2) | The net interest income (expense) associated with derivatives in ASC 815 fair value hedging relationships is reported in the statements of income in the interest income/expense line item for the indicated hedged item. |
Capital_Tables
Capital (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Capital [Abstract] | ||||||||||||||||
Schedule of Excess and Surplus Stock [Table Text Block] | The following table presents total excess stock and surplus stock at December 31, 2014 and 2013 (in thousands). | |||||||||||||||
2014 | 2013 | |||||||||||||||
Excess stock | ||||||||||||||||
Capital stock | $ | 199,202 | $ | 229,715 | ||||||||||||
Mandatorily redeemable capital stock | 4,120 | 1,685 | ||||||||||||||
Total | $ | 203,322 | $ | 231,400 | ||||||||||||
Surplus stock | ||||||||||||||||
Capital stock | $ | 184,248 | $ | 214,651 | ||||||||||||
Mandatorily redeemable capital stock | 4,107 | 1,663 | ||||||||||||||
Total | $ | 188,355 | $ | 216,314 | ||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | The following table summarizes the Bank’s compliance with the Finance Agency’s capital requirements as of December 31, 2014 and 2013 (dollars in thousands): | |||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||
Required | Actual | Required | Actual | |||||||||||||
Regulatory capital requirements: | ||||||||||||||||
Risk-based capital | $ | 347,402 | $ | 1,927,573 | $ | 450,725 | $ | 1,782,210 | ||||||||
Total capital | $ | 1,521,835 | $ | 1,927,573 | $ | 1,208,873 | $ | 1,782,210 | ||||||||
Total capital-to-assets ratio | 4 | % | 5.07 | % | 4 | % | 5.9 | % | ||||||||
Leverage capital | $ | 1,902,293 | $ | 2,891,360 | $ | 1,511,091 | $ | 2,673,315 | ||||||||
Leverage capital-to-assets ratio | 5 | % | 7.6 | % | 5 | % | 8.85 | % | ||||||||
Schedule of Mandatorily Redeemable Capital Stock by Maturity Date [Table Text Block] | The following table summarizes the Bank’s mandatorily redeemable capital stock at December 31, 2014 by year of earliest mandatory redemption (in thousands). The earliest mandatory redemption reflects the earliest time at which the Bank is required to redeem the shareholder’s capital stock, and is based on the assumption that the activities associated with the activity-based stock have concluded by the time the notice of redemption or withdrawal expires. | |||||||||||||||
2015 | $ | 677 | ||||||||||||||
2016 | 1 | |||||||||||||||
2017 | 1,115 | |||||||||||||||
2018 | 581 | |||||||||||||||
2019 | 2,685 | |||||||||||||||
Total | $ | 5,059 | ||||||||||||||
Schedule of Mandatorily Redeemable Capital Stock [Table Text Block] | The following table summarizes the Bank’s mandatorily redeemable capital stock activity during 2014, 2013 and 2012 (in thousands). | |||||||||||||||
Balance, January 1, 2012 | $ | 14,980 | ||||||||||||||
Capital stock that became subject to mandatory redemption during the year | 1,632 | |||||||||||||||
Redemption/repurchase of mandatorily redeemable capital stock | (12,151 | ) | ||||||||||||||
Stock dividends classified as mandatorily redeemable | 43 | |||||||||||||||
Balance, December 31, 2012 | 4,504 | |||||||||||||||
Capital stock that became subject to mandatory redemption during the year | 26,325 | |||||||||||||||
Redemption/repurchase of mandatorily redeemable capital stock | (27,845 | ) | ||||||||||||||
Mandatorily redeemable capital stock issued during the year | 18 | |||||||||||||||
Stock dividends classified as mandatorily redeemable | 63 | |||||||||||||||
Balance, December 31, 2013 | 3,065 | |||||||||||||||
Capital stock that became subject to mandatory redemption during the year, net | 3,130 | |||||||||||||||
Redemption/repurchase of mandatorily redeemable capital stock | (1,160 | ) | ||||||||||||||
Mandatorily redeemable capital stock issued during the year | 5 | |||||||||||||||
Stock dividends classified as mandatorily redeemable | 19 | |||||||||||||||
Balance, December 31, 2014 | $ | 5,059 | ||||||||||||||
Schedule of Withdrawals and Terminations in Membership [Table Text Block] | The following table provides the number of institutions that held mandatorily redeemable capital stock and the number that submitted a withdrawal notice or otherwise initiated a termination of their membership and the number of terminations completed during 2014, 2013 and 2012: | |||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Number of institutions, beginning of year | 16 | 13 | 15 | |||||||||||||
Due to mergers and acquisitions | 7 | 2 | 4 | |||||||||||||
Due to withdrawals | — | 2 | 1 | |||||||||||||
Due to termination of membership by the Bank* | — | 1 | — | |||||||||||||
Mandatorily redeemable capital stock reclassified to equity | — | (1 | ) | — | ||||||||||||
Terminations completed during the year | (5 | ) | (1 | ) | (7 | ) | ||||||||||
Number of institutions, end of year | 18 | 16 | 13 | |||||||||||||
________________________________________ | ||||||||||||||||
* The Bank terminated the membership of an institution that was closed by its primary regulator. |
Employee_Retirement_Plans_Tabl
Employee Retirement Plans (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Employee Retirement Plans [Abstract] | |||||||||||||||
Schedule of Multiemployer Plans [Table Text Block] | The following table presents the Bank's net pension cost and its funded status, as well as the funded status of the Pentegra DB Plan (dollars in thousands, including amounts presented in the footnotes to the table). | ||||||||||||||
2014 | 2013 | 2012 | |||||||||||||
Net pension cost charged to compensation and benefit expense for the year ended December 31 | $ | 1,806 | $ | 1,725 | $ | 2,013 | |||||||||
Pentegra DB Plan funded status as of July 1 | 111.3 | % | (a) | 101.3 | % | (b) | 108.4 | % | |||||||
Bank's funded status as of July 1 | 107 | % | 100 | % | 112.5 | % | |||||||||
____________ | |||||||||||||||
(a) | The Pentegra DB Plan's funded status as of July 1, 2014 is preliminary and may increase because the plan's participants were permitted to make contributions for the plan year ended June 30, 2014 through March 15, 2015. Contributions made during the period from July 1, 2014 through March 15, 2015 and designated for the plan year ended June 30, 2014 will be included in the final valuation as of July 1, 2014. The final funded status as of July 1, 2014 will not be available until the Form 5500 for the plan year July 1, 2014 through June 30, 2015 is filed (this Form 5500 is due to be filed no later than April 2016). | ||||||||||||||
(b) | The Pentegra DB Plan's funded status as of July 1, 2013 is preliminary and may increase because the plan's participants were permitted to make contributions for the plan year ended June 30, 2013 through March 15, 2014. Contributions made during the period from July 1, 2013 through March 15, 2014 and designated for the plan year ended June 30, 2013 will be included in the final valuation as of July 1, 2013. The final funded status as of July 1, 2013 will not be available until the Form 5500 for the plan year July 1, 2013 through June 30, 2014 is filed (this Form 5500 is due to be filed no later than April 2015). | ||||||||||||||
Schedule of Changes in Projected Benefit Obligations [Table Text Block] | The Bank uses a December 31 measurement date for its retirement benefits program. A reconciliation of the accumulated postretirement benefit obligation (“APBO”) and funding status of the retirement benefits program for the years ended December 31, 2014 and 2013 is as follows (in thousands): | ||||||||||||||
Year Ended December 31, | |||||||||||||||
2014 | 2013 | ||||||||||||||
Change in APBO | |||||||||||||||
APBO at beginning of year | $ | 1,376 | $ | 2,129 | |||||||||||
Service cost | 18 | 21 | |||||||||||||
Interest cost | 61 | 59 | |||||||||||||
Actuarial loss (gain) | 2 | (1,067 | ) | ||||||||||||
Participant contributions | 160 | 158 | |||||||||||||
Prior service cost | — | 211 | |||||||||||||
Benefits paid | (207 | ) | (135 | ) | |||||||||||
APBO at end of year | 1,410 | 1,376 | |||||||||||||
Change in plan assets | |||||||||||||||
Fair value of plan assets at beginning of year | — | — | |||||||||||||
Benefits paid (contributions retained) by the Bank | 47 | (23 | ) | ||||||||||||
Participant contributions | 160 | 158 | |||||||||||||
Benefits paid | (207 | ) | (135 | ) | |||||||||||
Fair value of plan assets at end of year | — | — | |||||||||||||
Funded status recognized in other liabilities at end of year | $ | (1,410 | ) | $ | (1,376 | ) | |||||||||
Schedule of Net Periodic Benefit Cost Not yet Recognized [Table Text Block] | Amounts recognized in accumulated other comprehensive income (loss) at December 31, 2014 and 2013 consist of the following (in thousands): | ||||||||||||||
December 31, | |||||||||||||||
2014 | 2013 | ||||||||||||||
Net actuarial gain | $ | 1,514 | $ | 1,607 | |||||||||||
Prior service cost | (178 | ) | (180 | ) | |||||||||||
$ | 1,336 | $ | 1,427 | ||||||||||||
Schedule of Net Benefit Costs [Table Text Block] | Components of net periodic benefit cost (credit) for the years ended December 31, 2014, 2013 and 2012 were as follows (in thousands): | ||||||||||||||
Year Ended December 31, | |||||||||||||||
2014 | 2013 | 2012 | |||||||||||||
Service cost | $ | 18 | $ | 21 | $ | 7 | |||||||||
Interest cost | 61 | 59 | 83 | ||||||||||||
Amortization of prior service cost (credit) | 2 | (17 | ) | (35 | ) | ||||||||||
Amortization of net actuarial gain | (91 | ) | (77 | ) | (64 | ) | |||||||||
Net periodic benefit credit | $ | (10 | ) | $ | (14 | ) | $ | (9 | ) | ||||||
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | Changes in benefit obligations recognized in other comprehensive income during the years ended December 31, 2014, 2013 and 2012 were as follows (in thousands): | ||||||||||||||
Year Ended December 31, | |||||||||||||||
2014 | 2013 | 2012 | |||||||||||||
Amortization of prior service cost (credit) included in net periodic benefit cost | $ | 2 | $ | (17 | ) | $ | (35 | ) | |||||||
Prior service cost | — | (211 | ) | — | |||||||||||
Actuarial gain (loss) | (2 | ) | 1,067 | 147 | |||||||||||
Amortization of net actuarial gain included in net periodic benefit cost | (91 | ) | (77 | ) | (64 | ) | |||||||||
Total changes in benefit obligations recognized in other comprehensive income | $ | (91 | ) | $ | 762 | $ | 48 | ||||||||
Schedule of Expected Benefit Payments [Table Text Block] | The following net postretirement benefit payments, which reflect expected future service, as appropriate, are expected to be paid (in thousands): | ||||||||||||||
Year Ended | Expected Benefits | ||||||||||||||
December 31, | Payments, Net of | ||||||||||||||
Participant | |||||||||||||||
Contributions | |||||||||||||||
2015 | $ | 133 | |||||||||||||
2016 | 139 | ||||||||||||||
2017 | 151 | ||||||||||||||
2018 | 128 | ||||||||||||||
2019 | 132 | ||||||||||||||
2020-2024 | 464 | ||||||||||||||
$ | 1,147 | ||||||||||||||
Estimated_Fair_Values_Tables
Estimated Fair Values (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | The following table presents the carrying values and estimated fair values of the Bank’s financial instruments at December 31, 2014 (in thousands), as well as the level within the fair value hierarchy in which the measurements are classified. Financial assets and liabilities are classified in their entirety based on the lowest level input that is significant to the fair value estimate. | ||||||||||||||||||||||||
FAIR VALUE SUMMARY TABLE | |||||||||||||||||||||||||
Estimated Fair Value | |||||||||||||||||||||||||
Financial Instruments | Carrying Value | Total | Level 1 | Level 2 | Level 3 | Netting Adjustment(4) | |||||||||||||||||||
Assets: | |||||||||||||||||||||||||
Cash and due from banks | $ | 1,507,708 | $ | 1,507,708 | $ | 1,507,708 | $ | — | $ | — | $ | — | |||||||||||||
Interest-bearing deposits | 266 | 266 | — | 266 | — | — | |||||||||||||||||||
Securities purchased under agreements to resell | 350,000 | 350,000 | — | 350,000 | — | — | |||||||||||||||||||
Federal funds sold | 5,613,000 | 5,613,000 | — | 5,613,000 | — | — | |||||||||||||||||||
Trading securities (1) | 408,563 | 408,563 | 8,769 | 399,794 | — | — | |||||||||||||||||||
Available-for-sale securities (1) | 6,388,502 | 6,388,502 | — | 6,388,502 | — | — | |||||||||||||||||||
Held-to-maturity securities | 4,662,013 | 4,727,130 | — | 4,566,726 | (2) | 160,404 | (3) | — | |||||||||||||||||
Advances | 18,942,400 | 19,060,638 | — | 19,060,638 | — | — | |||||||||||||||||||
Mortgage loans held for portfolio, net | 71,411 | 79,331 | — | 79,331 | — | — | |||||||||||||||||||
Accrued interest receivable | 65,168 | 65,168 | — | 65,168 | — | — | |||||||||||||||||||
Derivative assets (1) | 10,454 | 10,454 | — | 38,240 | — | (27,786 | ) | ||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||
Deposits | 797,414 | 797,408 | — | 797,408 | — | — | |||||||||||||||||||
Consolidated obligations | |||||||||||||||||||||||||
Discount notes | 19,131,832 | 19,131,732 | — | 19,131,732 | — | — | |||||||||||||||||||
Bonds | 16,078,700 | 16,110,291 | — | 16,110,291 | — | — | |||||||||||||||||||
Mandatorily redeemable capital stock | 5,059 | 5,059 | 5,059 | — | — | — | |||||||||||||||||||
Accrued interest payable | 39,726 | 39,726 | — | 39,726 | — | — | |||||||||||||||||||
Derivative liabilities (1) | 21,521 | 21,521 | — | 688,573 | — | (667,052 | ) | ||||||||||||||||||
___________________________ | |||||||||||||||||||||||||
(1) | Financial instruments measured at fair value on a recurring basis as of December 31, 2014. | ||||||||||||||||||||||||
(2) | Consists of the Bank's holdings of U.S. government-guaranteed debentures, U.S. government-guaranteed RMBS, GSE RMBS and GSE commercial MBS. | ||||||||||||||||||||||||
(3) | Consists of the Bank's holdings of non-agency RMBS. | ||||||||||||||||||||||||
(4) | Amounts represent the impact of legally enforceable master netting agreements or other legally enforceable arrangements between the Bank and its derivative counterparties that allow the Bank to offset positive and negative positions as well as the cash collateral held or placed with those same counterparties. | ||||||||||||||||||||||||
The following table presents the carrying values and estimated fair values of the Bank’s financial instruments at December 31, 2013 (in thousands), as well as the level within the fair value hierarchy in which the measurements are classified. Financial assets and liabilities are classified in their entirety based on the lowest level input that is significant to the fair value estimate. | |||||||||||||||||||||||||
FAIR VALUE SUMMARY TABLE | |||||||||||||||||||||||||
Estimated Fair Value | |||||||||||||||||||||||||
Financial Instruments | Carrying Value | Total | Level 1 | Level 2 | Level 3 | Netting Adjustment(4) | |||||||||||||||||||
Assets: | |||||||||||||||||||||||||
Cash and due from banks | $ | 911,081 | $ | 911,081 | $ | 911,081 | $ | — | $ | — | $ | — | |||||||||||||
Interest-bearing deposits | 344 | 344 | — | 344 | — | — | |||||||||||||||||||
Federal funds sold | 1,468,000 | 1,468,000 | — | 1,468,000 | — | — | |||||||||||||||||||
Trading securities (1) | 1,007,757 | 1,007,757 | 8,252 | 999,505 | — | — | |||||||||||||||||||
Available-for-sale securities (1) | 5,455,693 | 5,455,693 | — | 5,455,693 | — | — | |||||||||||||||||||
Held-to-maturity securities | 5,198,549 | 5,258,422 | — | 5,075,225 | (2) | 183,197 | (3) | — | |||||||||||||||||
Advances | 15,978,945 | 16,059,612 | — | 16,059,612 | — | — | |||||||||||||||||||
Mortgage loans held for portfolio, net | 91,110 | 100,078 | — | 100,078 | — | — | |||||||||||||||||||
Accrued interest receivable | 64,425 | 64,425 | — | 64,425 | — | — | |||||||||||||||||||
Derivative assets (1) | 15,909 | 15,909 | — | 84,050 | — | (68,141 | ) | ||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||
Deposits | 885,667 | 885,665 | — | 885,665 | — | — | |||||||||||||||||||
Consolidated obligations | |||||||||||||||||||||||||
Discount notes | 5,984,530 | 5,984,721 | — | 5,984,721 | — | — | |||||||||||||||||||
Bonds | 21,486,712 | 21,452,422 | — | 21,452,422 | — | — | |||||||||||||||||||
Mandatorily redeemable capital stock | 3,065 | 3,065 | 3,065 | — | — | — | |||||||||||||||||||
Accrued interest payable | 47,035 | 47,035 | — | 47,035 | — | — | |||||||||||||||||||
Derivative liabilities (1) | 10,991 | 10,991 | — | 901,372 | — | (890,381 | ) | ||||||||||||||||||
___________________________ | |||||||||||||||||||||||||
-1 | Financial instruments measured at fair value on a recurring basis as of December 31, 2013. | ||||||||||||||||||||||||
-2 | Consists of the Bank's holdings of U.S. government-guaranteed debentures, U.S. government-guaranteed RMBS and GSE RMBS. | ||||||||||||||||||||||||
-3 | Consists of the Bank's holdings of non-agency RMBS. | ||||||||||||||||||||||||
-4 | Amounts represent the impact of legally enforceable master netting agreements or other legally enforceable arrangements between the Bank and its derivative counterparties that allow the Bank to offset positive and negative positions as well as the cash collateral held or placed with those same counterparties. |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | During the years ended December 31, 2014, 2013 and 2012, the Bank charged to operating expenses net rental costs of approximately $370,000, $377,000, and $362,000, respectively. Future minimum rentals at December 31, 2014, were as follows (in thousands): | ||||||||||||
Year | Premises | Equipment | Total | ||||||||||
2015 | $ | 243 | $ | 34 | $ | 277 | |||||||
2016 | 255 | — | 255 | ||||||||||
2017 | 265 | — | 265 | ||||||||||
2018 | 131 | — | 131 | ||||||||||
2019 | 34 | — | 34 | ||||||||||
Total | $ | 928 | $ | 34 | $ | 962 | |||||||
Operating Leases of Lessor Disclosure [Text Block] | The Bank has entered into certain lease agreements to rent space to outside parties in its building. Future minimum rentals under these operating leases at December 31, 2014 were as follows (in thousands): | ||||||||||||
Year | Total | ||||||||||||
2015 | $ | 1,394 | |||||||||||
2016 | 964 | ||||||||||||
2017 | 829 | ||||||||||||
2018 | 848 | ||||||||||||
2019 | 861 | ||||||||||||
Total | $ | 4,896 | |||||||||||
Transactions_with_Other_FHLBan1
Transactions with Other FHLBanks (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Transactions with Other FHLBanks [Abstract] | ||||||||||||
Schedule of Loans to Other Federal Home Loan Banks [Table Text Block] | The following table summarizes the Bank’s loans to other FHLBanks during the years ended December 31, 2014, 2013 and 2012 (in thousands). | |||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Balance, January 1, | $ | — | $ | — | $ | 35,000 | ||||||
Loans made to: | ||||||||||||
FHLBank of San Francisco | 1,365,000 | 475,000 | 200,000 | |||||||||
FHLBank of Des Moines | 60,000 | — | — | |||||||||
FHLBank of Atlanta | 60,000 | 200,000 | — | |||||||||
FHLBank of Indianapolis | — | 377,000 | — | |||||||||
Collections from: | ||||||||||||
FHLBank of San Francisco | (1,365,000 | ) | (475,000 | ) | (200,000 | ) | ||||||
FHLBank of Des Moines | (60,000 | ) | — | — | ||||||||
FHLBank of Topeka | — | — | (35,000 | ) | ||||||||
FHLBank of Atlanta | (60,000 | ) | (200,000 | ) | — | |||||||
FHLBank of Indianapolis | — | (377,000 | ) | — | ||||||||
Balance, December 31, | $ | — | $ | — | $ | — | ||||||
Schedule of Loans from Other Federal Home Loan Banks [Table Text Block] | The following table summarizes the Bank’s borrowings from other FHLBanks during the years ended December 31, 2014, 2013 and 2012 (in thousands). | |||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Balance, January 1, | $ | — | $ | — | $ | — | ||||||
Borrowings from: | ||||||||||||
FHLBank of Atlanta | 20,000 | — | — | |||||||||
FHLBank of Indianapolis | 90,000 | — | — | |||||||||
FHLBank of San Francisco | 565,000 | 500,000 | 420,000 | |||||||||
FHLBank of Topeka | 40,000 | — | 40,000 | |||||||||
FHLBank of Chicago | 90,000 | — | — | |||||||||
FHLBank of Seattle | — | — | 40,000 | |||||||||
Repayments to: | ||||||||||||
FHLBank of Atlanta | (20,000 | ) | — | — | ||||||||
FHLBank of Indianapolis | (90,000 | ) | — | — | ||||||||
FHLBank of San Francisco | (565,000 | ) | (500,000 | ) | (420,000 | ) | ||||||
FHLBank of Topeka | (40,000 | ) | — | (40,000 | ) | |||||||
FHLBank of Chicago | (90,000 | ) | — | — | ||||||||
FHLBank of Seattle | — | — | (40,000 | ) | ||||||||
Balance, December 31, | $ | — | $ | — | $ | — | ||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The following table presents the changes in the components of accumulated other comprehensive income (loss) for the years ended December 31, 2014, 2013 and 2012 (in thousands). | |||||||||||||||
Net Unrealized | Non-Credit Portion of | Postretirement Benefits | Total Accumulated Other Comprehensive Income (Loss) | |||||||||||||
Gains (Losses) on | Other-than-Temporary | |||||||||||||||
Available-for-Sale | Impairment Losses on | |||||||||||||||
Securities (1) | Held-to-Maturity Securities | |||||||||||||||
Year ended December 31, 2014 | ||||||||||||||||
Balance at January 1, 2014 | $ | (868 | ) | $ | (33,200 | ) | $ | 1,427 | $ | (32,641 | ) | |||||
Reclassifications from accumulated other comprehensive income (loss) to net income | ||||||||||||||||
Reclassification adjustment for amortization of prior service costs and net actuarial gains recognized in compensation and benefits expense | — | — | (89 | ) | (89 | ) | ||||||||||
Other amounts of other comprehensive income (loss) | ||||||||||||||||
Net unrealized gains on available-for-sale securities | 23,280 | — | — | 23,280 | ||||||||||||
Non-credit portion of other-than-temporary impairment losses on held-to-maturity securities | — | (1,349 | ) | (1,349 | ) | |||||||||||
Accretion of non-credit portion of other-than-temporary impairment losses to the carrying value of held-to-maturity securities | — | 7,200 | — | 7,200 | ||||||||||||
Actuarial loss | — | — | (2 | ) | (2 | ) | ||||||||||
Total other comprehensive income (loss) | 23,280 | 5,851 | (91 | ) | 29,040 | |||||||||||
Balance at December 31, 2014 | $ | 22,412 | $ | (27,349 | ) | $ | 1,336 | $ | (3,601 | ) | ||||||
Year ended December 31, 2013 | ||||||||||||||||
Balance at January 1, 2013 | $ | 22,527 | $ | (41,437 | ) | $ | 665 | $ | (18,245 | ) | ||||||
Reclassifications from accumulated other comprehensive income (loss) to net income | ||||||||||||||||
Reclassification adjustment for amortization of prior service credits and net actuarial gains recognized in compensation and benefits expense | — | — | (94 | ) | (94 | ) | ||||||||||
Other amounts of other comprehensive income (loss) | ||||||||||||||||
Net unrealized losses on available-for-sale securities | (23,395 | ) | — | — | (23,395 | ) | ||||||||||
Accretion of non-credit portion of other-than-temporary impairment losses to the carrying value of held-to-maturity securities | — | 8,237 | — | 8,237 | ||||||||||||
Actuarial gain | — | — | 1,067 | 1,067 | ||||||||||||
Prior service cost | — | — | (211 | ) | (211 | ) | ||||||||||
Total other comprehensive income (loss) | (23,395 | ) | 8,237 | 762 | (14,396 | ) | ||||||||||
Balance at December 31, 2013 | $ | (868 | ) | $ | (33,200 | ) | $ | 1,427 | $ | (32,641 | ) | |||||
Net Unrealized | Non-Credit Portion of | Postretirement Benefits | Total Accumulated Other Comprehensive Income (Loss) | |||||||||||||
Gains (Losses) on | Other-than-Temporary | |||||||||||||||
Available-for-Sale | Impairment Losses on | |||||||||||||||
Securities (1) | Held-to-Maturity Securities | |||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||
Balance at January 1, 2012 | $ | 5,197 | $ | (51,429 | ) | $ | 617 | $ | (45,615 | ) | ||||||
Reclassifications from accumulated other comprehensive income (loss) to net income | ||||||||||||||||
Reclassification adjustment for non-credit portion of other-than-temporary impairment losses on held-to-maturity securities recognized as credit losses in net income | — | 351 | — | 351 | ||||||||||||
Reclassification adjustment for amortization of prior service credits and net actuarial gains recognized in compensation and benefits expense | — | — | (99 | ) | (99 | ) | ||||||||||
Other amounts of other comprehensive income (loss) | ||||||||||||||||
Net unrealized gains on available-for-sale securities | 17,330 | — | — | 17,330 | ||||||||||||
Non-credit portion of other-than-temporary impairment losses on held-to-maturity securities | — | (195 | ) | — | (195 | ) | ||||||||||
Accretion of non-credit portion of other-than-temporary impairment losses to the carrying value of held-to-maturity securities | — | 9,836 | — | 9,836 | ||||||||||||
Actuarial gain | — | — | 147 | 147 | ||||||||||||
Total other comprehensive income | 17,330 | 9,992 | 48 | 27,370 | ||||||||||||
Balance at December 31, 2012 | $ | 22,527 | $ | (41,437 | ) | $ | 665 | $ | (18,245 | ) | ||||||
(1) Net unrealized gains (losses) on available-for-sale securities are net of unrealized gains and losses relating to hedged interest rate risk included in net income. |
Other_Operating_Expenses_Table
Other Operating Expenses (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Other Operating Expenses [Abstract] | ||||||||||||
Schedule of Other Operating Cost and Expense, by Component [Table Text Block] | The following table presents the significant components of other operating expenses for the years ended December 31, 2014, 2013 and 2012 (in thousands). | |||||||||||
Year Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Occupancy expense | $ | 2,607 | $ | 2,905 | $ | 2,973 | ||||||
Legal fees | 5,440 | 1,278 | 620 | |||||||||
Professional fees | 3,984 | 3,054 | 3,651 | |||||||||
Database fees | 3,181 | 3,259 | 3,268 | |||||||||
Software costs | 5,069 | 5,727 | 6,337 | |||||||||
Other | 10,127 | 9,749 | 10,554 | |||||||||
Total other operating expenses | $ | 30,408 | $ | 25,972 | $ | 27,403 | ||||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Property, Plant and Equipment [Line Items] | |||
Capitalized Computer Software, Net | $1,287,000 | $1,997,000 | |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 34,991,000 | 34,443,000 | |
Depreciation | 2,050,000 | 2,449,000 | 3,295,000 |
Capitalized Computer Software, Amortization | $1,513,000 | $2,171,000 | $2,751,000 |
Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Estimated Useful Lives | 3 | ||
Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Estimated Useful Lives | 39 |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies Concessions (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Concession [Abstract] | |||
Amortization of Financing Costs | $2,111,000 | $1,732,000 | $3,898,000 |
Unamortized Debt Issuance Expense | 2,179,000 | 1,798,000 | |
Discount Notes [Member] | |||
Short-term Debt [Line Items] | |||
Debt Related Commitment Fees and Debt Issuance Costs | $870,000 | $209,000 | $579,000 |
Trading_Securities_Details
Trading Securities (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Trading Securities | $408,563 | $1,007,757 | |
Trading Securities, Change in Unrealized Holding Gain (Loss) | 418 | 1,249 | 476 |
US Treasury Securities [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Trading Securities | 399,794 | 999,505 | |
Other Debt Obligations [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Trading Securities | $8,769 | $8,252 |
AvailableforSale_Securities_De
Available-for-Sale Securities (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | position | position |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | $6,366,090 | $5,456,561 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 32,397 | 6,577 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | 9,985 | 7,445 |
Available-for-sale Securities, Debt Securities | 6,388,502 | 5,455,693 |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Number of Positions | 47 | 132 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 1,026,312 | 1,844,918 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Accumulated Loss | 9,985 | 7,372 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Number of Positions | 0 | 3 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 14,754 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 73 |
Available-for-sale Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 47 | 135 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,026,312 | 1,859,672 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 9,985 | 7,445 |
US Government Agencies Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 49,666 | 54,195 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 308 | 48 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 101 |
Available-for-sale Securities, Debt Securities | 49,974 | 54,142 |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Number of Positions | 2 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 24,063 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Accumulated Loss | 101 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Number of Positions | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Available-for-sale Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 2 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 24,063 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 101 | |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 4,890,484 | 4,965,468 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 31,066 | 6,111 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 6,201 |
Available-for-sale Securities, Debt Securities | 4,921,550 | 4,965,378 |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Number of Positions | 108 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 1,628,306 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Accumulated Loss | 6,201 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Number of Positions | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Available-for-sale Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 108 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,628,306 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 6,201 | |
Other Debt Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 411,145 | 436,898 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 701 | 418 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | 535 | 1,143 |
Available-for-sale Securities, Debt Securities | 411,311 | 436,173 |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Number of Positions | 18 | 22 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 163,153 | 192,549 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Accumulated Loss | 535 | 1,070 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Number of Positions | 0 | 3 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 14,754 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 73 |
Available-for-sale Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 18 | 25 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 163,153 | 207,303 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 535 | 1,143 |
Other Than Mortgage Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 5,351,295 | 5,456,561 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 32,075 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | 535 | |
Available-for-sale Securities, Debt Securities | 5,382,835 | 5,455,693 |
Available-for-sale Securities, Debt Maturities [Abstract] | ||
Available-for-sale Securities, Debt Maturities, Next Rolling Twelve Months, Amortized Cost Basis | 87,379 | 26,842 |
Available-for-sale Securities, Debt Maturities, Rolling Year Two Through Five, Amortized Cost Basis | 4,224,231 | 3,910,837 |
Available-for-sale Securities, Debt Maturities, Rolling Year Six Through Ten, Amortized Cost Basis | 1,039,685 | 1,518,882 |
Available-for-sale Securities, Debt Maturities, Next Rolling Twelve Months, Fair Value | 87,418 | 26,851 |
Available-for-sale Securities, Debt Maturities, Rolling Year Two Through Five, Fair Value | 4,245,122 | 3,914,956 |
Available-for-sale Securities, Debt Maturities, Rolling Year Six Through Ten, Fair Value | 1,050,295 | 1,513,886 |
Other Than Mortgage Backed Securities [Member] | Fixed-rate [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 5,276,295 | 5,381,561 |
Other Than Mortgage Backed Securities [Member] | Variable Interest Rate [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 75,000 | 75,000 |
Mortgage Backed Securities [Member] | Fixed-rate [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 1,014,795 | 0 |
MultiFamilyMortgageBackedSecurities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 1,014,795 | 0 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 322 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | 9,450 | |
Available-for-sale Securities, Debt Securities | 1,005,667 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Number of Positions | 29 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 863,159 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Accumulated Loss | 9,450 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Number of Positions | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Available-for-sale Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 29 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 863,159 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $9,450 |
HeldtoMaturity_Securities_Deta
Held-to-Maturity Securities (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | position | position | ||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | $4,689,362 | $5,231,749 | ||
Accumulated Other Comprehensive Income (Loss), Other than Temporary Impairment, Not Credit Loss, Net of Tax, Held-to-maturity, Debt Securities | 27,349 | 33,200 | ||
Held-to-maturity securities | 4,662,013 | [1] | 5,198,549 | [1] |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 68,984 | 64,712 | ||
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | 3,867 | 4,839 | ||
Held-to-maturity Securities, Fair Value | 4,727,130 | 5,258,422 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Number of Positions | 2 | 43 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 17,672 | 1,601,838 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 228 | 4,433 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Number of Positions | 41 | 42 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 616,891 | 275,494 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 10,310 | 16,519 | ||
Held-to-maturity, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 43 | 85 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 634,563 | 1,877,332 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss | 10,538 | 20,952 | ||
US Government Agencies Debt Securities [Member] | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 27,119 | 32,689 | ||
Accumulated Other Comprehensive Income (Loss), Other than Temporary Impairment, Not Credit Loss, Net of Tax, Held-to-maturity, Debt Securities | 0 | 0 | ||
Held-to-maturity securities | 27,119 | 32,689 | ||
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 143 | 126 | ||
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | 0 | 156 | ||
Held-to-maturity Securities, Fair Value | 27,262 | 32,659 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Number of Positions | 0 | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Number of Positions | 2 | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 16,157 | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 156 | |||
Held-to-maturity, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 2 | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 16,157 | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss | 156 | |||
Residential, Mortgage Backed Securities, Other Us Obligations [Member] | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 6,642 | 10,110 | ||
Accumulated Other Comprehensive Income (Loss), Other than Temporary Impairment, Not Credit Loss, Net of Tax, Held-to-maturity, Debt Securities | 0 | 0 | ||
Held-to-maturity securities | 6,642 | 10,110 | ||
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 34 | 58 | ||
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | 0 | 0 | ||
Held-to-maturity Securities, Fair Value | 6,676 | 10,168 | ||
Other Than Mortgage Backed Securities [Member] | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 27,119 | 32,689 | ||
Held-to-maturity securities | 27,119 | 32,689 | ||
Held-to-maturity Securities, Fair Value | 27,262 | 32,659 | ||
Held-to-maturity Securities, Debt Maturities, Rolling Year Two Through Five, Amortized Cost | 12,544 | 16,376 | ||
Held-to-maturity Securities, Debt Maturities, After One Through Five Years, Net Carrying Amount | 12,544 | 16,376 | ||
Held-to-maturity Securities, Debt Maturities, Rolling Year Two Through Five, Fair Value | 12,649 | 16,502 | ||
Held-to-maturity Securities, Debt Maturities, Rolling Year Six Through Ten, Amortized Cost | 14,575 | 8,483 | ||
Held-to-maturity Securities, Debt Maturities, After Five Through Ten Years, Net Carrying Amount | 14,575 | 8,483 | ||
Held-to-maturity Securities, Debt Maturities, Rolling Year Six Through Ten, Fair Value | 14,613 | 8,411 | ||
Held-to-maturity Securities, Debt Maturities, Rolling After Year Ten, Amortized Cost | 0 | 7,830 | ||
Held-to-maturity Securities, Debt Maturities, After Ten Years, Net Carrying Amount | 0 | 7,830 | ||
Held-to-maturity Securities, Debt Maturities, Rolling After Ten Years, Fair Value | 0 | 7,746 | ||
Mortgage Backed Securities [Member] | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 4,662,243 | 5,199,060 | ||
Accumulated Other Comprehensive Income (Loss), Other than Temporary Impairment, Not Credit Loss, Net of Tax, Held-to-maturity, Debt Securities | 27,349 | 33,200 | ||
Held-to-maturity securities | 4,634,894 | 5,165,860 | ||
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 68,841 | 64,586 | ||
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | 3,867 | 4,683 | ||
Held-to-maturity Securities, Fair Value | 4,699,868 | 5,225,763 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Number of Positions | 43 | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 1,601,838 | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 4,433 | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Number of Positions | 40 | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 259,337 | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 16,363 | |||
Held-to-maturity, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 83 | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 1,861,175 | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss | 20,796 | |||
Held-to-maturity Securities, Premium (Discounts), Net | -26,510 | -35,732 | ||
Residential Mortgage Backed Securities [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 169,240 | 198,603 | ||
Accumulated Other Comprehensive Income (Loss), Other than Temporary Impairment, Not Credit Loss, Net of Tax, Held-to-maturity, Debt Securities | 27,349 | 33,200 | ||
Held-to-maturity securities | 141,891 | 165,403 | ||
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 21,982 | 17,794 | ||
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | 3,469 | 0 | ||
Held-to-maturity Securities, Fair Value | 160,404 | 183,197 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Number of Positions | 1 | 1 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 6,874 | 10,210 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 223 | 80 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Number of Positions | 24 | 27 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 131,265 | 157,101 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 9,917 | 16,033 | ||
Held-to-maturity, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 25 | 28 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 138,139 | 167,311 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss | 10,140 | 16,113 | ||
SingleFamilyMortgageBackedSecurities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 4,424,542 | 4,990,347 | ||
Accumulated Other Comprehensive Income (Loss), Other than Temporary Impairment, Not Credit Loss, Net of Tax, Held-to-maturity, Debt Securities | 0 | 0 | ||
Held-to-maturity securities | 4,424,542 | 4,990,347 | ||
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 46,767 | 46,734 | ||
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | 398 | 4,683 | ||
Held-to-maturity Securities, Fair Value | 4,470,911 | 5,032,398 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Number of Positions | 1 | 42 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 10,798 | 1,591,628 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 5 | 4,353 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Number of Positions | 17 | 13 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 485,626 | 102,236 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 393 | 330 | ||
Held-to-maturity, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 18 | 55 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 496,424 | 1,693,864 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss | 398 | 4,683 | ||
MultiFamilyMortgageBackedSecurities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 61,819 | |||
Accumulated Other Comprehensive Income (Loss), Other than Temporary Impairment, Not Credit Loss, Net of Tax, Held-to-maturity, Debt Securities | 0 | |||
Held-to-maturity securities | 61,819 | |||
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 58 | |||
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | 0 | |||
Held-to-maturity Securities, Fair Value | $61,877 | |||
[1] | (a) Fair values: $4,727,130 and $5,258,422 at December 31, 2014 and 2013, respectively. |
HeldtoMaturity_Securities_Othe
Held-to-Maturity Securities (Other-Than-Temporary Impairment Analysis) (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
position | ||||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ||||
Held-to-maturity, Qualitative Disclosure, Non Agency RMBS Number of Positions, Identified as OTTI This Period | 1 | |||
Held-to-maturity, Qualitative Disclosure, Non Agency RMBS Number of Securities, Previously Identified as OTTI not Further Impaired This Period | 14 | |||
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities [Abstract] | ||||
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | $37 | $0 | $360 | |
Other than Temporary Impairment Losses, Investments, Portion in Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent | 1,349 | 0 | -156 | |
Other than Temporary Impairment Losses, Investments | 1,386 | 0 | 204 | |
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | 130,136 | |||
Other Than Temporarily Impaired Securities, Amortized Cost | 118,546 | |||
Other Than Temporarily Impaired Securities, Cumulative Non-credit Impairment | 96,154 | |||
Other Than Temporarily Impaired Securities, Cumulative Accretion of Non-credit Impairment | 68,805 | |||
Other Than Temporarily Impaired Securities, Carrying Value | 91,197 | |||
Other Than Temporarily Impaired Securities, Fair Value | 113,179 | |||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||||
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held | 12,901 | 13,039 | 12,679 | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Additions, No Previous Impairment | 37 | 0 | 0 | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Additions, Additional Credit Losses | 0 | 0 | 360 | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Reductions, Cash Flows | -426 | -138 | 0 | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held | 12,512 | 12,901 | 13,039 | |
Cumulative Other Than Temporary Impairment Principal Shortfalls | -1,210 | -684 | 0 | |
Cumulative Amortization of the Time Value of Credit Losses | 293 | 233 | 163 | |
OTTI Credit Losses in the Amortized Cost of Held-to-maturity Securities | 11,595 | 12,450 | 13,202 | |
Minimum [Member] | ||||
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities, Portion Recognized in Earnings, Net, Qualitative Disclosures [Abstract] | ||||
Projected House Price Decline Rate Over the Next 12 Months | 4.00% | |||
Maximum [Member] | ||||
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities, Portion Recognized in Earnings, Net, Qualitative Disclosures [Abstract] | ||||
Projected House Price Recovery Rate Over the Next 12 Months | 7.00% | |||
Q1 2009 [Member] | Private Label Residential Mortgage Backed Securities, Security One [Member] | ||||
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities [Abstract] | ||||
Debt Instrument, Credit Rating | Triple-C | |||
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | 11,950 | |||
Other Than Temporarily Impaired Securities, Amortized Cost | 9,411 | |||
Other Than Temporarily Impaired Securities, Cumulative Non-credit Impairment | 10,271 | |||
Other Than Temporarily Impaired Securities, Cumulative Accretion of Non-credit Impairment | 8,175 | |||
Other Than Temporarily Impaired Securities, Carrying Value | 7,315 | |||
Other Than Temporarily Impaired Securities, Fair Value | 10,025 | |||
Q1 2009 [Member] | Private Label Residential Mortgage Backed Securities, Security Two [Member] | ||||
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities [Abstract] | ||||
Debt Instrument, Credit Rating | Triple-C | |||
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | 11,672 | |||
Other Than Temporarily Impaired Securities, Amortized Cost | 10,972 | |||
Other Than Temporarily Impaired Securities, Cumulative Non-credit Impairment | 12,389 | |||
Other Than Temporarily Impaired Securities, Cumulative Accretion of Non-credit Impairment | 8,907 | |||
Other Than Temporarily Impaired Securities, Carrying Value | 7,490 | |||
Other Than Temporarily Impaired Securities, Fair Value | 10,443 | |||
Q2 2009 [Member] | Private Label Residential Mortgage Backed Securities, Security Three [Member] | ||||
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities [Abstract] | ||||
Debt Instrument, Credit Rating | Single-D | |||
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | 15,100 | |||
Other Than Temporarily Impaired Securities, Amortized Cost | 11,550 | |||
Other Than Temporarily Impaired Securities, Cumulative Non-credit Impairment | 15,283 | |||
Other Than Temporarily Impaired Securities, Cumulative Accretion of Non-credit Impairment | 12,340 | |||
Other Than Temporarily Impaired Securities, Carrying Value | 8,607 | |||
Other Than Temporarily Impaired Securities, Fair Value | 12,240 | |||
Q2 2009 [Member] | Private Label Residential Mortgage Backed Securities, Security Four [Member] | ||||
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities [Abstract] | ||||
Debt Instrument, Credit Rating | Triple-C | |||
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | 7,815 | |||
Other Than Temporarily Impaired Securities, Amortized Cost | 7,097 | |||
Other Than Temporarily Impaired Securities, Cumulative Non-credit Impairment | 7,890 | |||
Other Than Temporarily Impaired Securities, Cumulative Accretion of Non-credit Impairment | 5,914 | |||
Other Than Temporarily Impaired Securities, Carrying Value | 5,121 | |||
Other Than Temporarily Impaired Securities, Fair Value | 6,874 | |||
Q3 2009 [Member] | Private Label Residential Mortgage Backed Securities, Security Five [Member] | ||||
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities [Abstract] | ||||
Debt Instrument, Credit Rating | Triple-C | |||
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | 14,379 | |||
Other Than Temporarily Impaired Securities, Amortized Cost | 12,648 | |||
Other Than Temporarily Impaired Securities, Cumulative Non-credit Impairment | 10,047 | |||
Other Than Temporarily Impaired Securities, Cumulative Accretion of Non-credit Impairment | 7,705 | |||
Other Than Temporarily Impaired Securities, Carrying Value | 10,306 | |||
Other Than Temporarily Impaired Securities, Fair Value | 12,425 | |||
Q3 2009 [Member] | Private Label Residential Mortgage Backed Securities, Security Six [Member] | ||||
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities [Abstract] | ||||
Debt Instrument, Credit Rating | Triple-C | |||
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | 12,485 | |||
Other Than Temporarily Impaired Securities, Amortized Cost | 11,076 | |||
Other Than Temporarily Impaired Securities, Cumulative Non-credit Impairment | 10,567 | |||
Other Than Temporarily Impaired Securities, Cumulative Accretion of Non-credit Impairment | 7,578 | |||
Other Than Temporarily Impaired Securities, Carrying Value | 8,087 | |||
Other Than Temporarily Impaired Securities, Fair Value | 10,979 | |||
Q3 2009 [Member] | Private Label Residential Mortgage Backed Securities, Security Seven [Member] | ||||
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities [Abstract] | ||||
Debt Instrument, Credit Rating | Single-B | |||
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | 4,348 | |||
Other Than Temporarily Impaired Securities, Amortized Cost | 4,267 | |||
Other Than Temporarily Impaired Securities, Cumulative Non-credit Impairment | 3,575 | |||
Other Than Temporarily Impaired Securities, Cumulative Accretion of Non-credit Impairment | 2,462 | |||
Other Than Temporarily Impaired Securities, Carrying Value | 3,154 | |||
Other Than Temporarily Impaired Securities, Fair Value | 4,012 | |||
Q1 2010 [Member] | Private Label Residential Mortgage Backed Securities, Security Eight [Member] | ||||
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities [Abstract] | ||||
Debt Instrument, Credit Rating | Single-B | |||
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | 6,694 | |||
Other Than Temporarily Impaired Securities, Amortized Cost | 6,671 | |||
Other Than Temporarily Impaired Securities, Cumulative Non-credit Impairment | 4,968 | |||
Other Than Temporarily Impaired Securities, Cumulative Accretion of Non-credit Impairment | 3,355 | |||
Other Than Temporarily Impaired Securities, Carrying Value | 5,058 | |||
Other Than Temporarily Impaired Securities, Fair Value | 6,065 | |||
Q1 2010 [Member] | Private Label Residential Mortgage Backed Securities, Security Nine [Member] | ||||
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities [Abstract] | ||||
Debt Instrument, Credit Rating | Triple-C | |||
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | 2,923 | |||
Other Than Temporarily Impaired Securities, Amortized Cost | 2,885 | |||
Other Than Temporarily Impaired Securities, Cumulative Non-credit Impairment | 2,208 | |||
Other Than Temporarily Impaired Securities, Cumulative Accretion of Non-credit Impairment | 1,511 | |||
Other Than Temporarily Impaired Securities, Carrying Value | 2,188 | |||
Other Than Temporarily Impaired Securities, Fair Value | 2,582 | |||
Q4 2010 [Member] | Private Label Residential Mortgage Backed Securities, Security Ten [Member] | ||||
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities [Abstract] | ||||
Debt Instrument, Credit Rating | Triple-C | |||
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | 5,687 | |||
Other Than Temporarily Impaired Securities, Amortized Cost | 5,260 | |||
Other Than Temporarily Impaired Securities, Cumulative Non-credit Impairment | 3,331 | |||
Other Than Temporarily Impaired Securities, Cumulative Accretion of Non-credit Impairment | 1,912 | |||
Other Than Temporarily Impaired Securities, Carrying Value | 3,841 | |||
Other Than Temporarily Impaired Securities, Fair Value | 4,944 | |||
Q4 2010 [Member] | Private Label Residential Mortgage Backed Securities, Security Eleven [Member] | ||||
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities [Abstract] | ||||
Debt Instrument, Credit Rating | Triple-C | |||
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | 6,889 | |||
Other Than Temporarily Impaired Securities, Amortized Cost | 6,885 | |||
Other Than Temporarily Impaired Securities, Cumulative Non-credit Impairment | 4,096 | |||
Other Than Temporarily Impaired Securities, Cumulative Accretion of Non-credit Impairment | 2,445 | |||
Other Than Temporarily Impaired Securities, Carrying Value | 5,234 | |||
Other Than Temporarily Impaired Securities, Fair Value | 6,048 | |||
Q4 2010 [Member] | Private Label Residential Mortgage Backed Securities, Security Twelve [Member] | ||||
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities [Abstract] | ||||
Debt Instrument, Credit Rating | Triple-C | |||
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | 3,680 | |||
Other Than Temporarily Impaired Securities, Amortized Cost | 3,595 | |||
Other Than Temporarily Impaired Securities, Cumulative Non-credit Impairment | 1,820 | |||
Other Than Temporarily Impaired Securities, Cumulative Accretion of Non-credit Impairment | 1,058 | |||
Other Than Temporarily Impaired Securities, Carrying Value | 2,833 | |||
Other Than Temporarily Impaired Securities, Fair Value | 3,269 | |||
Q4 2010 [Member] | Private Label Residential Mortgage Backed Securities, Security Thirteen [Member] | ||||
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities [Abstract] | ||||
Debt Instrument, Credit Rating | Triple-C | |||
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | 4,407 | |||
Other Than Temporarily Impaired Securities, Amortized Cost | 4,392 | |||
Other Than Temporarily Impaired Securities, Cumulative Non-credit Impairment | 2,418 | |||
Other Than Temporarily Impaired Securities, Cumulative Accretion of Non-credit Impairment | 1,550 | |||
Other Than Temporarily Impaired Securities, Carrying Value | 3,524 | |||
Other Than Temporarily Impaired Securities, Fair Value | 4,095 | |||
Q2 2011 [Member] | Private Label Residential Mortgage Backed Securities, Security Fourteen [Member] | ||||
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities [Abstract] | ||||
Debt Instrument, Credit Rating | Triple-C | |||
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | 9,580 | |||
Other Than Temporarily Impaired Securities, Amortized Cost | 9,347 | |||
Other Than Temporarily Impaired Securities, Cumulative Non-credit Impairment | 5,942 | |||
Other Than Temporarily Impaired Securities, Cumulative Accretion of Non-credit Impairment | 3,893 | |||
Other Than Temporarily Impaired Securities, Carrying Value | 7,298 | |||
Other Than Temporarily Impaired Securities, Fair Value | 8,037 | |||
Q4 2014 [Member] | Private Label Residential Mortgage Backed Securities, Security Fifteen [Member] | ||||
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities [Abstract] | ||||
Debt Instrument, Credit Rating | Single-B | |||
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | 12,527 | |||
Other Than Temporarily Impaired Securities, Amortized Cost | 12,490 | |||
Other Than Temporarily Impaired Securities, Cumulative Non-credit Impairment | 1,349 | |||
Other Than Temporarily Impaired Securities, Cumulative Accretion of Non-credit Impairment | 0 | |||
Other Than Temporarily Impaired Securities, Carrying Value | 11,141 | |||
Other Than Temporarily Impaired Securities, Fair Value | 11,141 | |||
Majority of Markets [Member] | Minimum [Member] | ||||
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities, Portion Recognized in Earnings, Net, Qualitative Disclosures [Abstract] | ||||
Projected House Price Decline Rate Over the Next 12 Months | 1.00% | |||
Projected House Price Annual Appreciation Rate at Long-Term Equilibrium Level | 2.00% | |||
Majority of Markets [Member] | Maximum [Member] | ||||
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities, Portion Recognized in Earnings, Net, Qualitative Disclosures [Abstract] | ||||
Projected House Price Recovery Rate Over the Next 12 Months | 6.00% | |||
Projected House Price Annual Appreciation Rate at Long-Term Equilibrium Level | 5.00% | |||
Alt A Fixed Rate [Member] | Private Label Residential Mortgage Backed Securities, Security Fifteen [Member] | ||||
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities [Abstract] | ||||
Other Than Temporarily Impaired Securities, Unpaid Principal Balance | $12,527 | [1] | ||
Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held Assumption For Measurement Prepayment Speed Weighted Average | 7.80% | [2] | ||
Other than Temporary Impairment Losses, Investments, Held-to-maturity Securities, Portion Recognized in Earnings, Net, Qualitative Disclosures, Default Rate | 22.00% | [2] | ||
Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held Assumption For Measurement Loss Severity Weighted Average | 38.70% | [2] | ||
Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held Assumption For Measurement Credit Enhancements | 34.30% | [3] | ||
[1] | Although Security #15 was not labeled as Alt-A at the time of issuance, based upon its current collateral and performance characteristics, this other-than-temporarily impaired security was analyzed using Alt-A assumptions. | |||
[2] | repayment rate reflects the weighted average of projected future voluntary prepayments. The default rate reflects the total balance of loans projected to default as a percentage of the current unpaid principal balance of the underlying loan pool. The loss severity reflects the total projected loan losses as a percentage of the total balance of loans that are projected to default. | |||
[3] | urrent credit enhancement percentage reflects the ability of subordinated classes of securities to absorb principal losses and interest shortfalls before the senior class held by the Bank is impacted (i.e., the losses, expressed as a percentage of the outstanding principal balances, that could be incurred in the underlying loan pool before the security held by the Bank would be impacted, assuming that all of those losses occurred on the measurement date). Depending upon the timing and amount of losses in the underlying loan pool, it is possible that the senior class held by the Bank could bear losses in scenarios where the cumulative loan losses do not exceed the current credit enhancement percentage. |
HeldtoMaturity_Securities_Inte
Held-to-Maturity Securities (Interest Rate Payment Terms) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | $4,689,362 | $5,231,749 |
Other Than Mortgage Backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 27,119 | 32,689 |
Mortgage Backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 4,662,243 | 5,199,060 |
Fixed Interest Rate [Member] | Mortgage Passthrough Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 276 | 344 |
Fixed Interest Rate [Member] | Collateralized Mortgage Obligations [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 624 | 847 |
Variable Interest Rate [Member] | Other Than Mortgage Backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 27,119 | 32,689 |
Variable Interest Rate [Member] | Collateralized Mortgage Obligations [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 4,599,524 | 5,197,869 |
Variable Interest Rate [Member] | Commercial Mortgage Backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | $61,819 | $0 |
Advances_Details
Advances (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Advances [Line Items] | |||
Deposit Liabilities Reclassified as Loans Receivable | $79,477,000 | $3,499,000 | |
Weighted Average Interest Rate on Overdrawn Demand Deposit | 4.04% | 4.07% | |
Federal Home Loan Bank, Advances, Maturities Summary, in Next Rolling Twelve Months | 11,908,892,000 | 8,343,704,000 | |
Federal Home Loan Bank, Advances, Weighted Average Interest Rate, Maturing in Next Twelve Rolling Months | 0.31% | 0.34% | |
Federal Home Loan Bank, Advances, Maturities Summary, in Rolling Year Two | 1,085,057,000 | 1,386,230,000 | |
Federal Home Loan Bank Advances, Weighted Average Interest Rate, Maturing in Rolling Year Two | 1.46% | 1.78% | |
Federal Home Loan Bank, Advances, Maturities Summary, in Rolling Year Three | 1,590,017,000 | 822,497,000 | |
Federal Home Loan Bank Advances, Weighted Average Interest Rate, Maturing in Rolling Year Three | 2.39% | 1.79% | |
Federal Home Loan Bank, Advances, Maturities Summary, in Rolling Year Four | 1,085,640,000 | 1,376,579,000 | |
Federal Home Loan Bank, Advances, Weighted Average Interest Rate, Maturing in Rolling Year Four | 2.40% | 2.90% | |
Federal Home Loan Bank, Advances, Maturities Summary, in Rolling Year Five | 417,243,000 | 1,075,960,000 | |
Federal Home Loan Bank, Advances, Weighted Average Interest Rate, Maturing in Rolling Year Five | 2.22% | 2.43% | |
Federal Home Loan Bank, Advances, Maturities Summary, after Rolling Year Five | 901,184,000 | 789,625,000 | |
Federal Home Loan Bank, Advances, Weighted Average Interest Rate, Maturing after Rolling Year Five | 2.99% | 3.14% | |
Federal Home Loan Bank Advances, Maturities, Amortizing Advances | 1,727,505,000 | 1,997,270,000 | |
Federal Home Loan Bank Advances, Weighted Average Interest Rate of Amortizing Advances | 3.45% | 3.64% | |
Federal Home Loan Bank Advances Par Value | 18,795,015,000 | 15,795,364,000 | |
Federal Home Loan Bank, Advances, Weighted Average Interest Rate | 1.14% | 1.46% | |
Deferred Prepayment Fees | -17,903,000 | -15,916,000 | |
Federal Home Loan Bank, Advances, Commitment Fees | -139,000 | -111,000 | |
Hedging adjustments | 165,427,000 | 199,608,000 | |
Federal Home Loan Bank Advances | 18,942,400,000 | 15,978,945,000 | |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Call Date, in Next Rolling Twelve Months | 11,993,262,000 | 8,343,704,000 | |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Call Date, in Rolling Year Two | 1,053,687,000 | 1,386,230,000 | |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Call Date, in Rolling Year Three | 1,590,017,000 | 822,497,000 | |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Call Date, in Rolling Year Four | 1,085,640,000 | 1,376,579,000 | |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Call Date, in Rolling Year Five | 414,243,000 | 1,075,960,000 | |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Call Date, after Rolling Year Five | 851,184,000 | 789,625,000 | |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put or Convert Date, in Next Rolling Twelve Months | 13,258,963,000 | 9,961,774,000 | |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put or Convert Date, in Rolling Year Two | 1,062,557,000 | 1,230,230,000 | |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put or Convert Date, in Rolling Year Three | 990,896,000 | 799,997,000 | |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put or Convert Date, in Rolling Year Four | 397,190,000 | 677,459,000 | |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put or Convert Date, in Rolling Year Five | 377,243,000 | 375,510,000 | |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put or Convert Date, after Rolling Year Five | 901,184,000 | 749,625,000 | |
Outstanding Advance to Largest Borrower | 0 | 1,000,000,000 | 2,000,000,000 |
Outstanding Advance in Percentage to Largest Borrower | 0.00% | 6.00% | 11.00% |
Interest Income on Advances from Largest Borrowers | 905,000 | 3,934,000 | 6,723,000 |
Prepayment Fees on Advance Received from Largest Borrower | 0 | 0 | 0 |
Federal Home Loan Bank, Advances, Fixed Rate, under One Year | 11,573,066,000 | 7,352,066,000 | |
Federal Home Loan Bank, Advances, Fixed Rate, after One Year | 6,694,902,000 | 7,390,799,000 | |
Federal Home Loan Bank, Advances, Fixed Rate | 18,267,968,000 | 14,742,865,000 | |
Federal Home Loan Bank, Advances, Floating Rate, under One Year | 426,477,000 | 1,008,499,000 | |
Federal Home Loan Bank, Advances, Floating Rate, after One Year | 100,570,000 | 44,000,000 | |
Federal Home Loan Bank, Advances, Floating Rate | 527,047,000 | 1,052,499,000 | |
Percent Of Fixed Rate Advances Swapped To Adjustable Rate | 27.03% | 33.00% | |
Gross Prepayment Fees on Advances Received | 26,035,000 | 92,037,000 | 33,044,000 |
Deferred Prepayment Fees on Advances During Period | 5,835,000 | 1,449,000 | 1,223,000 |
Minimum [Member] | |||
Advances [Line Items] | |||
Federal Home Loan Bank, Advances, Interest Rate | 0.05% | 0.05% | |
Maximum [Member] | |||
Advances [Line Items] | |||
Federal Home Loan Bank, Advances, Interest Rate | 8.48% | 8.61% | |
Federal Home Loan Bank, Advances, Callable Option [Member] | |||
Advances [Line Items] | |||
Federal Home Loan Bank Advances Par Value | 487,699,000 | 106,304,000 | |
Federal Home Loan Bank, Advances, Putable Option [Member] | |||
Advances [Line Items] | |||
Federal Home Loan Bank Advances Par Value | $1,454,071,000 | $1,653,471,000 |
Mortgage_Loans_Held_for_Portfo2
Mortgage Loans Held for Portfolio (Details) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||
Mortgage Loans on Real Estate [Line Items] | |||||
Loans and Leases Receivable, Unamortized Premiums | $473 | $639 | |||
Loans and Leases Receivable, Unamortized Discounts | -89 | -114 | |||
Loans and Leases Receivable, Gross, Consumer, Mortgage | 71,554 | 91,275 | |||
Credit Enhancement Fees | 26 | 36 | 55 | ||
Performance Based Credit Enhancement Fee Recaptured | 24 | 31 | 36 | ||
Loans Receivable With Fixed Rates Of Interest Medium Term [Member] | |||||
Mortgage Loans on Real Estate [Line Items] | |||||
Loans and Leases Receivable, Unpaid Principal Balance | 9,332 | [1] | 15,613 | [1] | |
Loans Receivable With Fixed Rates Of Interest Long Term [Member] | |||||
Mortgage Loans on Real Estate [Line Items] | |||||
Loans and Leases Receivable, Unpaid Principal Balance | 61,838 | 75,137 | |||
Government Mortgage Loans [Member] | |||||
Mortgage Loans on Real Estate [Line Items] | |||||
Loans and Leases Receivable, Unpaid Principal Balance | 37,404 | 47,102 | |||
Conventional Mortgage Loan [Member] | |||||
Mortgage Loans on Real Estate [Line Items] | |||||
Loans and Leases Receivable, Unpaid Principal Balance | $33,766 | $43,648 | |||
Maximum [Member] | |||||
Mortgage Loans on Real Estate [Line Items] | |||||
Mortgage Loans On Real Estate, Original Contractual Terms Medium-Term Loan | 15 | ||||
[1] | *Medium-term is defined as an original term of 15 years or less. |
Allowance_for_Credit_Losses_De
Allowance for Credit Losses (Details) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||
Financing Receivable, Recorded Investment, Past Due [Abstract] | |||||
30-59 days delinquent | $3,685 | $4,363 | |||
60-89 days delinquent | 931 | 1,118 | |||
90 days or more delinquent | 615 | 947 | |||
Total past due | 5,231 | 6,428 | |||
Total current loans | 65,939 | 84,322 | |||
Total mortgage loans | 71,170 | 90,750 | |||
In process of foreclosure | 79 | [1] | 447 | [1] | |
Serious delinquency rate | 0.90% | [2] | 1.00% | [2] | |
Past due 90 days or more and still accruing interest | 299 | [3] | 253 | [3] | |
Non-accrual loans | 316 | 694 | |||
Troubled debt restructurings | 116 | 143 | |||
Real Estate Acquired Through Foreclosure | 193 | 212 | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Loans and Leases Receivable, Allowance, Beginning Balance | 165 | 183 | 192 | ||
Charge-offs | -22 | -18 | -9 | ||
Loans and Leases Receivable, Allowance, Ending Balance | 143 | 165 | 183 | ||
Conventional Loan [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Abstract] | |||||
30-59 days delinquent | 1,409 | 973 | |||
60-89 days delinquent | 531 | 406 | |||
90 days or more delinquent | 316 | 694 | |||
Total past due | 2,256 | 2,073 | |||
Total current loans | 31,510 | 41,575 | |||
Total mortgage loans | 33,766 | 43,648 | |||
In process of foreclosure | 79 | [1] | 426 | [1] | |
Serious delinquency rate | 0.90% | [2] | 1.60% | [2] | |
Past due 90 days or more and still accruing interest | 0 | [3] | 0 | [3] | |
Non-accrual loans | 316 | 694 | |||
Troubled debt restructurings | 116 | 143 | |||
Allowance for Credit Losses and Recorded Investment by Impairment Methodology [Abstract] | |||||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 143 | 165 | |||
Financing Receivable, Individually Evaluated for Impairment | 432 | 816 | |||
Financing Receivable, Collectively Evaluated for Impairment | 33,334 | 42,832 | |||
Government Loan [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Abstract] | |||||
30-59 days delinquent | 2,276 | 3,390 | |||
60-89 days delinquent | 400 | 712 | |||
90 days or more delinquent | 299 | 253 | |||
Total past due | 2,975 | 4,355 | |||
Total current loans | 34,429 | 42,747 | |||
Total mortgage loans | 37,404 | 47,102 | |||
In process of foreclosure | 0 | [1] | 21 | [1] | |
Serious delinquency rate | 0.80% | [2] | 0.50% | [2] | |
Past due 90 days or more and still accruing interest | 299 | [3] | 253 | [3] | |
Non-accrual loans | 0 | 0 | |||
Troubled debt restructurings | $0 | $0 | |||
[1] | Includes loans where the decision of foreclosure or similar alternative such as pursuit of deed-in-lieu has been made. | ||||
[2] | Loans that are 90Â days or more past due or in the process of foreclosure expressed as a percentage of the loan portfolio. | ||||
[3] | Only government-guaranteed/insured mortgage loans continue to accrue interest after they become 90Â days or more past due. |
Deposits_Details
Deposits (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Deposits [Abstract] | |||
Weighted Average Rate Interest Bearing Deposits | 0.01% | 0.01% | 0.03% |
Interest Bearing Deposit Demand And Overnight | $698,136 | $790,053 | |
Interest Bearing Deposits Term | 99,254 | 95,585 | |
Non-interest bearing | 24 | 29 | |
Total deposits | 797,414 | 885,667 | |
Time Deposits, $250,000 Or More, Domestic | $98,850 | $95,375 |
Consolidated_Obligations_Detai
Consolidated Obligations (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Short-term and Long-term Debt [Line Items] | ||
Discount notes | $19,131,832 | $5,984,530 |
Percent of Fixed Rate Long Term Debt Swapped to An Adjustable Rate | 86.00% | 86.00% |
Bonds | 16,078,700 | 21,486,712 |
Federal Home Loan Bank, Consolidated Obligations | 35,210,532 | 27,471,242 |
Unsecured Debt [Member] | ||
Schedule of Short-term and Long-term Debt [Line Items] | ||
Debt, Gross | 16,111,140 | 21,588,160 |
Long-term Debt, Maturities, Repayments of Principal in Next Rolling Twelve Months | 6,225,840 | 11,262,745 |
Debt, Maturities, Repayments of Principal in Next Twelve Months, Weighted Average Interest Rate | 0.58% | 0.79% |
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Two | 2,790,080 | 4,370,840 |
Long-term Debt, Maturities, Repayments of Principal in Year Two, Weighted Average Interest Rate | 1.19% | 0.78% |
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Three | 1,537,000 | 1,280,000 |
Long-term Debt, Maturities, Repayments of Principal in Year Three, Weighted Average Interest Rate | 0.95% | 1.96% |
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Four | 1,847,000 | 425,000 |
Long-term Debt, Maturities, Repayments of Principal in Year Four, Weighted Average Interest Rate | 1.94% | 1.03% |
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Five | 1,172,500 | 1,262,000 |
Long-term Debt, Maturities, Repayments of Principal in Year Five, Weighted Average Interest Rate | 1.49% | 2.20% |
Long-term Debt, Maturities, Repayments of Principal in Rolling after Year Five | 2,538,720 | 2,987,575 |
Long-term Debt, Maturities, Repayments of Principal After Year Five, Weighted Average Interest Rate | 2.06% | 1.88% |
Long-term Debt, Weighted Average Interest Rate | 1.18% | 1.09% |
Debt Instrument, Unamortized Premium | 6,345 | 34,241 |
Debt Instrument, Unamortized Discount | -3,486 | -4,650 |
Debt Valuation Adjustment for Hedging Activities | -35,299 | -131,039 |
Bonds | 16,078,700 | 21,486,712 |
Non Callable [Member] | Unsecured Debt [Member] | ||
Schedule of Short-term and Long-term Debt [Line Items] | ||
Debt, Gross | 8,504,920 | 16,780,585 |
Callable [Member] | Unsecured Debt [Member] | ||
Schedule of Short-term and Long-term Debt [Line Items] | ||
Debt, Gross | 7,606,220 | 4,807,575 |
Earlier of Contractual Maturity or Next Call Date [Member] | Unsecured Debt [Member] | ||
Schedule of Short-term and Long-term Debt [Line Items] | ||
Long-term Debt, Maturities, Repayments of Principal in Next Rolling Twelve Months | 13,772,060 | 15,930,320 |
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Two | 1,645,080 | 4,365,840 |
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Three | 152,000 | 715,000 |
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Four | 437,000 | 50,000 |
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Five | 25,000 | 422,000 |
Long-term Debt, Maturities, Repayments of Principal in Rolling after Year Five | 80,000 | 105,000 |
Discount Notes [Member] | ||
Schedule of Short-term and Long-term Debt [Line Items] | ||
Debt Instrument, Face Amount | 19,134,303 | 5,985,100 |
Short-term Debt, Weighted Average Interest Rate | 0.09% | 0.09% |
FHLBanks [Member] | ||
Schedule of Short-term and Long-term Debt [Line Items] | ||
Debt, Gross | 847,000,000 | 767,000,000 |
FHL Bank of Dallas [Member] | ||
Schedule of Short-term and Long-term Debt [Line Items] | ||
Debt, Gross | 35,200,000 | 27,600,000 |
Fixed Interest Rate [Member] | Unsecured Debt [Member] | ||
Schedule of Short-term and Long-term Debt [Line Items] | ||
Debt, Gross | 8,377,640 | 12,857,160 |
Variable Rate [Member] | Unsecured Debt [Member] | ||
Schedule of Short-term and Long-term Debt [Line Items] | ||
Debt, Gross | 4,471,000 | 6,021,000 |
Step Up [Member] | Unsecured Debt [Member] | ||
Schedule of Short-term and Long-term Debt [Line Items] | ||
Debt, Gross | 3,112,500 | 2,585,000 |
Step Down [Member] | Unsecured Debt [Member] | ||
Schedule of Short-term and Long-term Debt [Line Items] | ||
Debt, Gross | $150,000 | $125,000 |
Affordable_Housing_Program_Det
Affordable Housing Program (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Affordable Housing Program [Abstract] | |||
Affordable Housing Program Contribution Requirement Percentage | 10.00% | ||
Number Of Federal Home Loan Banks | 12 | ||
Affordable Housing Program Contribution Requirement Amount | $100,000 | ||
Affordable Housing Program [Roll Forward] | |||
AHP, Beginning of period | 31,864 | 29,620 | 32,313 |
AHP assessment | 5,391 | 9,766 | 9,090 |
Grants funded, net of recaptured amounts | -11,257 | -7,522 | -11,783 |
AHP, End of period | $25,998 | $31,864 | $29,620 |
Assets_and_Liabilities_Subject2
Assets and Liabilities Subject to Offsetting (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Offsetting Assets and Liabilities [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | $38,240 | $84,050 | ||
Derivative Asset, Fair Value, Amount Offset Against Collateral | -27,786 | [1],[2],[3] | -68,141 | [1],[2],[4] |
Derivative assets | 10,454 | 15,909 | ||
Derivative, Collateral, Obligation to Return Securities | -9,746 | [5] | -4,454 | [5] |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 708 | 11,455 | ||
Securities Purchased under Agreements to Resell, Gross | 350,000 | |||
Securities Purchased under Agreements to Resell, Amount Offset Against Collateral | 0 | |||
Securities purchased under agreements to resell | 350,000 | 0 | ||
Securities Purchased under Agreements to Resell, Collateral, Obligation to Return Securities | -350,000 | [5] | ||
Securities Purchased under Agreements to Resell, Amount Not Offset Against Collateral | 0 | |||
Offsetting Assets, Gross | 388,240 | |||
Assets, Amount Offset Against Collateral | -27,786 | |||
Offsetting Assets, Total | 360,454 | |||
Offsetting Assets, Collateral Not Offset in the Statement of Condition | -359,746 | [5] | ||
Offsetting Assets, Amount Not Offset Against Collateral | 708 | |||
Derivative Liability, Fair Value, Gross Liability | 688,573 | 901,372 | ||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | -667,052 | [1],[2],[3] | -890,381 | [1],[2],[4] |
Derivative liabilities | 21,521 | 10,991 | ||
DerivativeLiabilitiesAdditionalNetExposureCollateralPledgedtoCounterpartiesInExcessOfNetLiability | -2,949 | [5] | 0 | [5] |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 18,572 | 10,991 | ||
Derivative, Collateral, Right to Receive Securities Excluding Additional Credit Exposure | 33,036 | |||
Non-member Counterparty [Member] | ||||
Offsetting Assets and Liabilities [Line Items] | ||||
Derivative, Collateral, Obligation to Return Securities | 1,651 | |||
Member Counterparties [Member] | ||||
Offsetting Assets and Liabilities [Line Items] | ||||
Derivative, Collateral, Obligation to Return Securities | 9,746 | 2,803 | ||
Over the Counter [Member] | ||||
Offsetting Assets and Liabilities [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 31,666 | 80,901 | ||
Derivative Asset, Fair Value, Amount Offset Against Collateral | -21,212 | -67,133 | ||
Derivative assets | 10,454 | 13,768 | ||
Derivative, Collateral, Obligation to Return Securities | -9,746 | [5],[6] | -4,454 | [5],[7] |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 708 | 9,314 | ||
Derivative Liability, Fair Value, Gross Liability | 629,920 | 900,725 | ||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | -611,348 | -889,734 | ||
Derivative liabilities | 18,572 | 10,991 | ||
DerivativeLiabilitiesAdditionalNetExposureCollateralPledgedtoCounterpartiesInExcessOfNetLiability | 0 | [5] | 0 | [5] |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 18,572 | 10,991 | ||
Exchange Cleared [Member] | ||||
Offsetting Assets and Liabilities [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 6,574 | 3,149 | ||
Derivative Asset, Fair Value, Amount Offset Against Collateral | -6,574 | -1,008 | ||
Derivative assets | 0 | 2,141 | ||
Derivative, Collateral, Obligation to Return Securities | 0 | [5] | 0 | [5] |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 0 | 2,141 | ||
Derivative Liability, Fair Value, Gross Liability | 58,653 | 647 | ||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | -55,704 | -647 | ||
Derivative liabilities | 2,949 | 0 | ||
DerivativeLiabilitiesAdditionalNetExposureCollateralPledgedtoCounterpartiesInExcessOfNetLiability | -2,949 | [5],[8] | 0 | [5] |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 0 | 0 | ||
Minimum [Member] | Non-member Counterparty [Member] | ||||
Offsetting Assets and Liabilities [Line Items] | ||||
Collateral Thresholds | 100 | |||
Maximum [Member] | Non-member Counterparty [Member] | ||||
Offsetting Assets and Liabilities [Line Items] | ||||
Collateral Thresholds | $500 | |||
[1] | Amounts represent the effect of legally enforceable master netting agreements or other legally enforceable arrangements between the Bank and its derivative counterparties that allow the Bank to offset positive and negative positions as well as the cash collateral held or placed with those same counterparties. | |||
[2] | Amounts represent the impact of legally enforceable master netting agreements or other legally enforceable arrangements between the Bank and its derivative counterparties that allow the Bank to offset positive and negative positions as well as the cash collateral held or placed with those same counterparties. | |||
[3] | Financial instruments measured at fair value on a recurring basis as of December 31, 2014. | |||
[4] | Financial instruments measured at fair value on a recurring basis as of December 31, 2013. | |||
[5] | Any overcollateralization at an individual clearinghouse/clearing member or bilateral counterparty level is not included in the determination of the net unsecured amount. | |||
[6] | Consists of $9,746,000 of collateral pledged by member counterparties. | |||
[7] | Consists of $1,651,000 of securities pledged by a non-member bilateral counterparty and $2,803,000 of collateral pledged by member counterparties. | |||
[8] | In addition to this amount, the Bank had pledged securities with a fair value of $33,036,000 to secure its cleared derivatives, which is a result of the initial margin requirements imposed upon the Bank. |
Derivatives_and_Hedging_Activi2
Derivatives and Hedging Activities (Derivatives in Statement of Condition) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Instruments in Hedges, Assets, at Fair Value | $38,240 | $84,050 | ||
Derivative Instruments in Hedges, Liabilities, at Fair Value | 688,573 | 901,372 | ||
Derivative, Notional Amount | 24,874,225 | 31,246,720 | ||
Derivative Asset, Fair Value, Amount Offset Against Collateral | -251 | -2,519 | ||
Derivative Liability, Fair Value, Amount Offset Against Collateral | -639,517 | -824,759 | ||
Derivative Asset, Fair Value, Gross Liability | -27,535 | -65,622 | ||
Derivative Liability, Fair Value, Gross Asset | -27,535 | -65,622 | ||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | -27,786 | [1],[2],[3] | -68,141 | [1],[2],[4] |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | -667,052 | [1],[2],[3] | -890,381 | [1],[2],[4] |
Derivative assets | 10,454 | 15,909 | ||
Derivative liabilities | 21,521 | 10,991 | ||
Designated as Hedging Instrument [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Instruments in Hedges, Assets, at Fair Value | 20,652 | 66,848 | ||
Derivative Instruments in Hedges, Liabilities, at Fair Value | 673,832 | 894,942 | ||
Derivative, Notional Amount | 20,941,725 | 23,219,072 | ||
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Advances [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Instruments in Hedges, Assets, at Fair Value | 4,641 | 15,874 | ||
Derivative Instruments in Hedges, Liabilities, at Fair Value | 183,285 | 234,882 | ||
Derivative, Notional Amount | 4,936,984 | 4,795,978 | ||
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Available-for-sale Securities [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Instruments in Hedges, Assets, at Fair Value | 401 | 19,739 | ||
Derivative Instruments in Hedges, Liabilities, at Fair Value | 462,501 | 521,470 | ||
Derivative, Notional Amount | 5,877,601 | 4,924,934 | ||
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Consolidated Obligation Bonds [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Instruments in Hedges, Assets, at Fair Value | 15,610 | 31,233 | ||
Derivative Instruments in Hedges, Liabilities, at Fair Value | 28,046 | 138,590 | ||
Derivative, Notional Amount | 10,102,140 | 13,473,160 | ||
Designated as Hedging Instrument [Member] | Interest Rate Cap [Member] | Advances [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Instruments in Hedges, Assets, at Fair Value | 0 | 2 | ||
Derivative Instruments in Hedges, Liabilities, at Fair Value | 0 | 0 | ||
Derivative, Notional Amount | 25,000 | 25,000 | ||
Not Designated as Hedging Instrument [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Instruments in Hedges, Assets, at Fair Value | 17,588 | 17,202 | ||
Derivative Instruments in Hedges, Liabilities, at Fair Value | 14,741 | 6,430 | ||
Derivative, Notional Amount | 3,932,500 | 8,027,648 | ||
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Advances [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Instruments in Hedges, Assets, at Fair Value | 4 | 0 | ||
Derivative Instruments in Hedges, Liabilities, at Fair Value | 0 | 0 | ||
Derivative, Notional Amount | 1,500 | 0 | ||
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Available-for-sale Securities [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Instruments in Hedges, Assets, at Fair Value | 0 | 0 | ||
Derivative Instruments in Hedges, Liabilities, at Fair Value | 32 | 0 | ||
Derivative, Notional Amount | 1,000 | 0 | ||
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Basis Swap [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Instruments in Hedges, Assets, at Fair Value | 0 | 9,610 | ||
Derivative Instruments in Hedges, Liabilities, at Fair Value | 0 | 0 | ||
Derivative, Notional Amount | 0 | 3,700,000 | ||
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Intermediary Transactions [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Instruments in Hedges, Assets, at Fair Value | 14,864 | 3,461 | ||
Derivative Instruments in Hedges, Liabilities, at Fair Value | 13,413 | 3,208 | ||
Derivative, Notional Amount | 950,000 | 117,648 | ||
Not Designated as Hedging Instrument [Member] | Interest Rate Cap [Member] | Intermediary Transactions [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Instruments in Hedges, Assets, at Fair Value | 1,296 | 3,222 | ||
Derivative Instruments in Hedges, Liabilities, at Fair Value | 1,296 | 3,222 | ||
Derivative, Notional Amount | 80,000 | 110,000 | ||
Not Designated as Hedging Instrument [Member] | Interest Rate Cap [Member] | Held-to-maturity Securities [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Instruments in Hedges, Assets, at Fair Value | 1,424 | 909 | ||
Derivative Instruments in Hedges, Liabilities, at Fair Value | 0 | 0 | ||
Derivative, Notional Amount | $2,900,000 | $4,100,000 | ||
[1] | Amounts represent the effect of legally enforceable master netting agreements or other legally enforceable arrangements between the Bank and its derivative counterparties that allow the Bank to offset positive and negative positions as well as the cash collateral held or placed with those same counterparties. | |||
[2] | Amounts represent the impact of legally enforceable master netting agreements or other legally enforceable arrangements between the Bank and its derivative counterparties that allow the Bank to offset positive and negative positions as well as the cash collateral held or placed with those same counterparties. | |||
[3] | Financial instruments measured at fair value on a recurring basis as of December 31, 2014. | |||
[4] | Financial instruments measured at fair value on a recurring basis as of December 31, 2013. |
Derivatives_and_Hedging_Activi3
Derivatives and Hedging Activities (Derivatives in Statement of Income) (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | ($3,084) | [1] | $4,993 | [1] | ($7,909) | [1] |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 2,661 | -512 | 321 | |||
Gain (Loss) on Derivative Instruments, Net, Pretax | -423 | 4,481 | -7,588 | |||
Advances [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | -825 | [1] | 164 | [1] | -2,013 | [1] |
Available-for-sale Securities [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | -2,644 | [1] | 3,218 | [1] | -5,467 | [1] |
Consolidated Obligation Bonds [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | 385 | [1] | 1,611 | [1] | -429 | [1] |
Interest Rate Swap [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | -3,082 | 4,999 | -7,818 | |||
Interest Rate Swap [Member] | Advances [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | -144 | 189 | 16 | |||
Interest Rate Swap [Member] | Available-for-sale Securities [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 411 | 0 | 0 | |||
Interest Rate Swap [Member] | Consolidated Obligation Bonds [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 126 | -769 | 2,565 | |||
Interest Rate Swap [Member] | Discount Notes [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 0 | 0 | 784 | |||
Interest Rate Swap [Member] | Basis Swap [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 2,337 | -2,977 | -8,081 | |||
Interest Rate Swap [Member] | Intermediary Transactions [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 1,170 | 28 | 20 | |||
Interest Rate Swap [Member] | Interest Rate Swaptions Related to Optional Advance Commitments [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 0 | 0 | -1,947 | |||
Interest Rate Cap [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | -2 | -6 | -91 | |||
Interest Rate Cap [Member] | Held-to-maturity Securities [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | -2,601 | -616 | -3,458 | |||
Interest Rate Cap [Member] | Intermediary Transactions [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 0 | 0 | 12 | |||
Net Interest Income on Interest Rate Swaps [Member] | Interest Rate Swap [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $1,362 | $3,633 | $10,410 | |||
[1] | Reported as net gains (losses)Â on derivatives and hedging activities in the statements of income. |
Derivatives_and_Hedging_Activi4
Derivatives and Hedging Activities (Derivatives in Statement of Income and Impact on Interest) (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gain (Loss) on Derivatives | $54,151 | $210,828 | ($169,798) | |||
Gain (Loss) on Hedged Items | -57,235 | -205,835 | 161,889 | |||
Net Fair Value Hedge Ineffectiveness | -3,084 | [1] | 4,993 | [1] | -7,909 | [1] |
Derivatives Net Interest Income (Expense) | -70,765 | [2] | -96,528 | [2] | -88,012 | [2] |
Advances [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gain (Loss) on Derivatives | 18,468 | 207,392 | 24,077 | |||
Gain (Loss) on Hedged Items | -19,293 | -207,228 | -26,090 | |||
Net Fair Value Hedge Ineffectiveness | -825 | [1] | 164 | [1] | -2,013 | [1] |
Derivatives Net Interest Income (Expense) | -105,885 | [2] | -134,615 | [2] | -168,773 | [2] |
Available-for-sale Securities [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gain (Loss) on Derivatives | -61,063 | 188,915 | -129,478 | |||
Gain (Loss) on Hedged Items | 58,419 | -185,697 | 124,011 | |||
Net Fair Value Hedge Ineffectiveness | -2,644 | [1] | 3,218 | [1] | -5,467 | [1] |
Derivatives Net Interest Income (Expense) | -80,808 | [2] | -80,569 | [2] | -71,435 | [2] |
Consolidated Obligation Bonds [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gain (Loss) on Derivatives | 96,746 | -185,479 | -64,397 | |||
Gain (Loss) on Hedged Items | -96,361 | 187,090 | 63,968 | |||
Net Fair Value Hedge Ineffectiveness | 385 | [1] | 1,611 | [1] | -429 | [1] |
Derivatives Net Interest Income (Expense) | $115,928 | [2] | $118,656 | [2] | $152,196 | [2] |
[1] | Reported as net gains (losses)Â on derivatives and hedging activities in the statements of income. | |||||
[2] | The net interest income (expense)Â associated with derivatives in ASC 815 fair value hedging relationships is reported in the statements of income in the interest income/expense line item for the indicated hedged item. |
Derivatives_and_Hedging_Activi5
Derivatives and Hedging Activities (Narrative) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | $24,874,225 | $31,246,720 |
Exchange Cleared [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 4,000,000 | |
Over the Counter [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | $21,000,000 |
Capital_Details
Capital (Details) (USD $) | 12 Months Ended | ||||||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Apr. 30, 2012 | Jan. 31, 2012 | Jan. 30, 2015 | ||||
Capital Narrative [Abstract] | |||||||||
Common Stock, Par or Stated Value Per Share | $100 | ||||||||
Membership Investment Requirement, Percent of Members Total Assets as of Previous Calendar Year | 0.04% | ||||||||
Membership Investment Requirement, Minimum Dollar Amount | $1,000 | ||||||||
Membership Investment Requirement, Maximum Dollar Amount | 7,000,000 | ||||||||
Activity Based Investment Requirement, Percent of Outstanding Advances | 4.10% | ||||||||
Surplus Stock Threshold Percentage | 102.50% | 105.00% | |||||||
Minimum Stock Surplus Required For Repurchase | 100,000 | 250,000 | |||||||
Repurchased Surplus Stock During The Period | 901,117,000 | 773,954,500 | 635,350,000 | ||||||
Repurchased Surplus Stock During Period, Mandatorily Redeemable Capital Stock Portion | 0 | 0 | 197,000 | ||||||
Number of Finance Agency Regulatory Capital Requirements | 3 | ||||||||
Multiplier for Determining Permanent Capital in Leverage Capital Calculation | 1.5 | ||||||||
Interest Expense, Capital Securities | 15,000 | 23,000 | 21,000 | ||||||
Joint Capital Enhancement Agreement Percentage | 20.00% | ||||||||
Percent of Average Balance of Outstanding Consolidated Obligations Prescribed per the Joint Capital Enhancement Agreement For Each Previous Quarter | 1.00% | ||||||||
Excess and Surplus Stock [Abstract] | |||||||||
Excess Capital Stock | 199,202,000 | 229,715,000 | |||||||
Excess Capital Stock Mandatorily Redeemable Capital Stock Portion | 4,120,000 | 1,685,000 | |||||||
Excess Capital Stock And Excess Mandatorily Redeemable Capital Stock | 203,322,000 | 231,400,000 | |||||||
Surplus Capital Stock | 184,248,000 | 214,651,000 | |||||||
Surplus Stock Mandatorily Redeemable Capital Stock Portion | 4,107,000 | 1,663,000 | |||||||
Surplus Capital Stock And Surplus Mandatorily Redeemable Capital Stock | 188,355,000 | 216,314,000 | |||||||
Regulatory Capital Requirements [Abstract] | |||||||||
Federal Home Loan Bank, Risk-Based Capital, Required | 347,402,000 | 450,725,000 | |||||||
Federal Home Loan Bank, Risk-Based Capital, Actual | 1,927,573,000 | 1,782,210,000 | |||||||
Federal Home Loan Bank, Regulatory Capital, Required | 1,521,835,000 | 1,208,873,000 | |||||||
Federal Home Loan Bank, Regulatory Capital, Actual | 1,927,573,000 | 1,782,210,000 | |||||||
Regulatory Capital Ratio, Required | 4.00% | 4.00% | |||||||
Federal Home Loan Bank, Regulatory Capital Ratio, Actual | 5.07% | 5.90% | |||||||
Federal Home Loan Bank, Leverage Capital, Required | 1,902,293,000 | 1,511,091,000 | |||||||
Federal Home Loan Bank, Leverage Capital, Actual | 2,891,360,000 | 2,673,315,000 | |||||||
Leverage Ratio, Required | 5.00% | 5.00% | |||||||
Leverage Ratio, Actual | 7.60% | 8.85% | |||||||
Mandatorily Redeemable Capital Stock by Maturity Date [Abstract] | |||||||||
Financial Instruments Subject to Mandatory Redemption, Redeemable Within One Year | 677,000 | ||||||||
Financial Instruments Subject to Mandatory Redemption, Redeemable In Year Two | 1,000 | ||||||||
Financial Instruments Subject to Mandatory Redemption, Redeemable in Year Three | 1,115,000 | ||||||||
Financial Instruments Subject to Mandatory Redemption, Redeemable in Year Four | 581,000 | ||||||||
Financial Instruments Subject to Mandatory Redemption, Redeemable in Year Five | 2,685,000 | ||||||||
Mandatorily Redeemable Capital Stock [Roll Forward] | |||||||||
Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Share Value, Amount, Beginning Balance | 3,065,000 | 4,504,000 | 14,980,000 | ||||||
Net Shares Reclassified to Mandatorily Redeemable Capital Stock, Value | 3,130,000 | 26,325,000 | 1,632,000 | ||||||
Repayments of Mandatory Redeemable Capital Securities | -1,160,000 | -27,845,000 | -12,151,000 | ||||||
Proceeds from Issuance of Mandatory Redeemable Capital Securities | 5,000 | 18,000 | 0 | ||||||
Dividends Common Stock Mandatorily Redeemable Capital Stock | 19,000 | 63,000 | 43,000 | ||||||
Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Share Value, Amount, Ending Balance | 5,059,000 | 3,065,000 | 4,504,000 | ||||||
Number of Stockholders Holding Mandatorily Redeemable Capital Stock [Roll Forward] | |||||||||
Number of Stockholders Holding Mandatorily Redeemable Capital Stock, Beginning Balance | 16 | 13 | 15 | ||||||
Federal Home Loan, Bank Non Member Due to Merger | 7 | 2 | 4 | ||||||
Federal Home Loan, Bank Voluntary Termination or Notices Received and Pending | 0 | 2 | 1 | ||||||
Federal Home Loan, Bank Involuntary Termination | 0 | [1] | 1 | [1] | 0 | [1] | |||
Federal Home Loan Bank, NonMembers Reclassified to Members | 0 | -1 | 0 | ||||||
Federal Home Loan Bank, Number of Completed Membership Terminations | -5 | -1 | -7 | ||||||
Number of Stockholders Holding Mandatorily Redeemable Capital Stock, Ending Balance | 18 | 16 | 13 | ||||||
Subsequent Event [Member] | |||||||||
Capital Narrative [Abstract] | |||||||||
Repurchased Surplus Stock, Total | $134,747,000 | ||||||||
[1] | The Bank terminated the membership of an institution that was closed by its primary regulator. |
Pentegra_Defined_Benefit_Plan_
Pentegra Defined Benefit Plan (Details) (Pentegra Defined Benefit Plan [Member], USD $) | 12 Months Ended | |||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 01, 2014 | Jul. 01, 2013 | Jul. 01, 2012 | ||
Pentegra Defined Benefit Plan [Member] | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Multiemployer Plan, Period Contributions | $1,806 | $1,725 | $2,013 | |||||
Pentegra Defined Benefit Plan Funded Status as of July 1 | 111.30% | [1] | 101.30% | [2] | 108.40% | |||
FHLBank's funded status as of July 1 | 107.00% | 100.00% | 112.50% | |||||
[1] | The Pentegra DB Plan's funded status as of July 1, 2014 is preliminary and may increase because the plan's participants were permitted to make contributions for the plan year ended June 30, 2014 through March 15, 2015. Contributions made during the period from July 1, 2014 through March 15, 2015 and designated for the plan year ended June 30, 2014 will be included in the final valuation as of July 1, 2014. The final funded status as of July 1, 2014 will not be available until the Form 5500 for the plan year July 1, 2014 through June 30, 2015 is filed (this Form 5500 is due to be filed no later than April 2016). | |||||||
[2] | The Pentegra DB Plan's funded status as of July 1, 2013 is preliminary and may increase because the plan's participants were permitted to make contributions for the plan year ended June 30, 2013 through March 15, 2014. Contributions made during the period from July 1, 2013 through March 15, 2014 and designated for the plan year ended June 30, 2013 will be included in the final valuation as of July 1, 2013. The final funded status as of July 1, 2013 will not be available until the Form 5500 for the plan year July 1, 2013 through June 30, 2014 is filed (this Form 5500 is due to be filed no later than April 2015). |
Employee_Retirement_Plans_Narr
Employee Retirement Plans Narrative (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Entity Tax Identification Number | 135645888 | |||
Pentegra Defined Benefit Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Multiemployer Plan Number | 333 | |||
Pentegra Defined Contribution Plan [Member] | ||||
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract] | ||||
Defined Contribution Plan, Cost Recognized | $1,171,000 | 1,185,000 | 1,200,000 | |
Non-qualified Deferred Compensation Plan [Member] | ||||
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract] | ||||
Deferred Compensation Arrangement with Individual, Recorded Liability | 2,266,000 | 2,108,000 | ||
Deferred Compensation Arrangement with Individual, Compensation Expense | 146,000 | 283,000 | 102,000 | |
Directors' non-qualified deferred compensation plan [Member] | ||||
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract] | ||||
Deferred Compensation Arrangement with Individual, Recorded Liability | 1,264,000 | 1,078,000 | ||
Special Non-Qualified Deferred Compensation Plan [Member] | ||||
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract] | ||||
Deferred Compensation Arrangement with Individual, Recorded Liability | 5,173,000 | 5,026,000 | ||
Deferred Compensation Arrangement with Individual, Employer Contribution | 25,000 | 740,000 | 727,000 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Future Amortization of Net Prior Service Cost (Credit) | 8,000 | |||
Defined Benefit Plan, Future Amortization of Net Gains (Losses) | 83,000 | |||
Defined Benefit Plan, Health Care Cost Trend Rate Assumed for Next Fiscal Year | 7.80% | 8.00% | 8.10% | 8.40% |
Defined Benefit Plan, Description of Direction and Pattern of Change for Assumed Health Care Cost Trend Rate | decline by 0.04 percent | |||
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 4.50% | |||
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | 2097 | |||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 3.44% | 4.64% | ||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 4.64% | 3.81% | 4.24% | |
Defined Benefit Plan, Effect of One Percentage Point Increase on Accumulated Postretirement Benefit Obligation | 61,000 | |||
Defined Benefit Plan, Effect of One Percentage Point Increase on Service and Interest Cost Components | 7,000 | |||
Defined Benefit Plan, Effect of One Percentage Point Decrease on Accumulated Postretirement Benefit Obligation | -57,000 | |||
Defined Benefit Plan, Effect of One Percentage Point Decrease on Service and Interest Cost Components | ($6,000) |
Employee_Retirement_Plans_Reco
Employee Retirement Plans Reconciliation of the APBO (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Actuarial loss (gain) | $2 | ($1,067) | ($147) |
Prior service cost | 0 | 211 | 0 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Defined Benefit Plan, Benefit Obligation, Beginning Balance | 1,376 | 2,129 | |
Defined Benefit Plan, Service Cost | 18 | 21 | 7 |
Defined Benefit Plan, Interest Cost | 61 | 59 | 83 |
Actuarial loss (gain) | 2 | -1,067 | |
Defined Benefit Plan, Contributions by Plan Participants | 160 | 158 | |
Prior service cost | 0 | 211 | |
Defined Benefit Plan, Benefits Paid | -207 | -135 | |
Defined Benefit Plan, Benefit Obligation, Ending Balance | 1,410 | 1,376 | 2,129 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Defined Benefit Plan, Fair Value of Plan Assets, Beginning Balance | 0 | 0 | |
Defined Benefit Plan, Other Changes | 47 | -23 | |
Defined Benefit Plan, Contributions by Plan Participants | 160 | 158 | |
Defined Benefit Plan, Benefits Paid | -207 | -135 | |
Defined Benefit Plan, Fair Value of Plan Assets, Ending Balance | 0 | 0 | 0 |
Defined Benefit Plan, Funded Status of Plan | ($1,410) | ($1,376) |
Employee_Retirement_Plans_Amou
Employee Retirement Plans Amounts recognized in AOCI (Details) (Other Postretirement Benefit Plans, Defined Benefit [Member], USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Other Postretirement Benefit Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), before Tax | $1,514 | $1,607 |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Prior Service Cost (Credit), before Tax | -178 | -180 |
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax | $1,336 | $1,427 |
Employee_Retirement_Plans_Comp
Employee Retirement Plans Components of net periodic benefit cost (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plan Disclosure [Line Items] | |||
Amortization of prior service cost (credit) included in net periodic benefit cost | ($2) | $17 | $35 |
Amortization of net actuarial gain included in net periodic benefit cost | 91 | 77 | 64 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Service Cost | 18 | 21 | 7 |
Defined Benefit Plan, Interest Cost | 61 | 59 | 83 |
Amortization of prior service cost (credit) included in net periodic benefit cost | 2 | -17 | -35 |
Amortization of net actuarial gain included in net periodic benefit cost | -91 | -77 | -64 |
Defined Benefit Plan, Net Periodic Benefit Credit | ($10) | ($14) | ($9) |
Employee_Retirement_Plans_Chan
Employee Retirement Plans Changes in benefit obligations in OCI (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plan Disclosure [Line Items] | |||
Amortization of prior service cost (credit) included in net periodic benefit cost | $2 | ($17) | ($35) |
Prior service cost | 0 | -211 | 0 |
Defined Benefit Plan, Actuarial Gain (Loss) | -2 | 1,067 | 147 |
Amortization of net actuarial gain included in net periodic benefit cost | -91 | -77 | -64 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax, Portion Attributable to Parent | -91 | 762 | 48 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Amortization of prior service cost (credit) included in net periodic benefit cost | -2 | 17 | 35 |
Prior service cost | 0 | -211 | |
Defined Benefit Plan, Actuarial Gain (Loss) | -2 | 1,067 | |
Amortization of net actuarial gain included in net periodic benefit cost | $91 | $77 | $64 |
Employee_Retirement_Plans_Expe
Employee Retirement Plans Expected net postretirement benefit payments (Details) (Other Postretirement Benefit Plans, Defined Benefit [Member], USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months | $133 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Two | 139 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Three | 151 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Four | 128 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Five | 132 |
Defined Benefit Plan, Expected Future Benefit Payments, Five Fiscal Years Thereafter | 464 |
Defined Benefit Plan Expected Future Benefit Payments | $1,147 |
Estimated_Fair_Values_Carrying
Estimated Fair Values (Carrying Value and Fair Value of Financial Instruments) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
In Thousands, unless otherwise specified | ||||||
Assets | ||||||
Trading securities | $408,563 | $1,007,757 | ||||
Held-to-maturity securities | 4,662,013 | [1] | 5,198,549 | [1] | ||
Held-to-maturity securities, Fair Value | 4,727,130 | 5,258,422 | ||||
Derivative assets | 10,454 | 15,909 | ||||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | -27,786 | [2],[3],[4] | -68,141 | [3],[4],[5] | ||
Consolidated obligations | ||||||
Discount notes | 19,131,832 | 5,984,530 | ||||
Bonds | 16,078,700 | 21,486,712 | ||||
Mandatorily redeemable capital stock | 5,059 | 3,065 | 4,504 | 14,980 | ||
Derivative liabilities | 21,521 | 10,991 | ||||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | -667,052 | [2],[3],[4] | -890,381 | [3],[4],[5] | ||
Carrying Value [Member] | ||||||
Assets | ||||||
Cash and due from banks | 1,507,708 | 911,081 | ||||
Interest-bearing deposits | 266 | 344 | ||||
Securities purchased under agreements to resell | 350,000 | |||||
Federal funds sold | 5,613,000 | 1,468,000 | ||||
Trading securities | 408,563 | [2] | 1,007,757 | [5] | ||
Available-for-sale securities | 6,388,502 | [2] | 5,455,693 | [5] | ||
Held-to-maturity securities | 4,662,013 | 5,198,549 | ||||
Advances | 18,942,400 | 15,978,945 | ||||
Mortgage loans held for portfolio, net | 71,411 | 91,110 | ||||
Accrued interest receivable | 65,168 | 64,425 | ||||
Derivative assets | 10,454 | [2] | 15,909 | [5] | ||
Liabilities | ||||||
Deposits | 797,414 | 885,667 | ||||
Consolidated obligations | ||||||
Discount notes | 19,131,832 | 5,984,530 | ||||
Bonds | 16,078,700 | 21,486,712 | ||||
Mandatorily redeemable capital stock | 5,059 | 3,065 | ||||
Accrued interest payable | 39,726 | 47,035 | ||||
Derivative liabilities | 21,521 | [2] | 10,991 | [5] | ||
Estimated Fair Value [Member] | ||||||
Assets | ||||||
Cash and due from banks | 1,507,708 | 911,081 | ||||
Interest-bearing deposits | 266 | 344 | ||||
Securities purchased under agreements to resell | 350,000 | |||||
Federal funds sold | 5,613,000 | 1,468,000 | ||||
Trading securities | 408,563 | [2] | 1,007,757 | [5] | ||
Available-for-sale securities | 6,388,502 | [2] | 5,455,693 | [5] | ||
Held-to-maturity securities, Fair Value | 4,727,130 | 5,258,422 | ||||
Advances | 19,060,638 | 16,059,612 | ||||
Mortgage loans held for portfolio, net | 79,331 | 100,078 | ||||
Accrued interest receivable | 65,168 | 64,425 | ||||
Derivative assets | 10,454 | [2] | 15,909 | [5] | ||
Liabilities | ||||||
Deposits | 797,408 | 885,665 | ||||
Consolidated obligations | ||||||
Discount notes, Fair Value | 19,131,732 | 5,984,721 | ||||
Bonds, Fair Value | 16,110,291 | 21,452,422 | ||||
Mandatorily redeemable capital stock | 5,059 | 3,065 | ||||
Accrued interest payable | 39,726 | 47,035 | ||||
Derivative liabilities | 21,521 | [2] | 10,991 | [5] | ||
Fair Value, Inputs, Level 1 [Member] | ||||||
Assets | ||||||
Cash and due from banks | 1,507,708 | 911,081 | ||||
Interest-bearing deposits | 0 | 0 | ||||
Securities purchased under agreements to resell | 0 | |||||
Federal funds sold | 0 | 0 | ||||
Trading securities | 8,769 | [2] | 8,252 | [5] | ||
Available-for-sale securities | 0 | [2] | 0 | [5] | ||
Held-to-maturity securities, Fair Value | 0 | 0 | ||||
Advances | 0 | 0 | ||||
Mortgage loans held for portfolio, net | 0 | 0 | ||||
Accrued interest receivable | 0 | 0 | ||||
Derivative assets | 0 | [2] | 0 | [5] | ||
Liabilities | ||||||
Deposits | 0 | 0 | ||||
Consolidated obligations | ||||||
Discount notes, Fair Value | 0 | 0 | ||||
Bonds, Fair Value | 0 | 0 | ||||
Mandatorily redeemable capital stock | 5,059 | 3,065 | ||||
Accrued interest payable | 0 | 0 | ||||
Derivative liabilities | 0 | [2] | 0 | [5] | ||
Fair Value, Inputs, Level 2 [Member] | ||||||
Assets | ||||||
Cash and due from banks | 0 | 0 | ||||
Interest-bearing deposits | 266 | 344 | ||||
Securities purchased under agreements to resell | 350,000 | |||||
Federal funds sold | 5,613,000 | 1,468,000 | ||||
Trading securities | 399,794 | [2] | 999,505 | [5] | ||
Available-for-sale securities | 6,388,502 | [2] | 5,455,693 | [5] | ||
Held-to-maturity securities, Fair Value | 4,566,726 | [6] | 5,075,225 | [7] | ||
Advances | 19,060,638 | 16,059,612 | ||||
Mortgage loans held for portfolio, net | 79,331 | 100,078 | ||||
Accrued interest receivable | 65,168 | 64,425 | ||||
Derivative assets | 38,240 | [2] | 84,050 | [5] | ||
Liabilities | ||||||
Deposits | 797,408 | 885,665 | ||||
Consolidated obligations | ||||||
Discount notes, Fair Value | 19,131,732 | 5,984,721 | ||||
Bonds, Fair Value | 16,110,291 | 21,452,422 | ||||
Mandatorily redeemable capital stock | 0 | 0 | ||||
Accrued interest payable | 39,726 | 47,035 | ||||
Derivative liabilities | 688,573 | [2] | 901,372 | [5] | ||
Fair Value, Inputs, Level 3 [Member] | ||||||
Assets | ||||||
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 | 0 | [2] | 0 | [5] | ||
Available-for-sale securities | 0 | [2] | 0 | [5] | ||
Held-to-maturity securities, Fair Value | 160,404 | [8] | 183,197 | [8] | ||
Advances | 0 | 0 | ||||
Mortgage loans held for portfolio, net | 0 | 0 | ||||
Accrued interest receivable | 0 | 0 | ||||
Derivative assets | 0 | [2] | 0 | [5] | ||
Liabilities | ||||||
Deposits | 0 | 0 | ||||
Consolidated obligations | ||||||
Discount notes, Fair Value | 0 | 0 | ||||
Bonds, Fair Value | 0 | 0 | ||||
Mandatorily redeemable capital stock | 0 | 0 | ||||
Accrued interest payable | 0 | 0 | ||||
Derivative liabilities | $0 | [2] | $0 | [5] | ||
[1] | (a) Fair values: $4,727,130 and $5,258,422 at December 31, 2014 and 2013, respectively. | |||||
[2] | Financial instruments measured at fair value on a recurring basis as of December 31, 2014. | |||||
[3] | Amounts represent the effect of legally enforceable master netting agreements or other legally enforceable arrangements between the Bank and its derivative counterparties that allow the Bank to offset positive and negative positions as well as the cash collateral held or placed with those same counterparties. | |||||
[4] | Amounts represent the impact of legally enforceable master netting agreements or other legally enforceable arrangements between the Bank and its derivative counterparties that allow the Bank to offset positive and negative positions as well as the cash collateral held or placed with those same counterparties. | |||||
[5] | Financial instruments measured at fair value on a recurring basis as of December 31, 2013. | |||||
[6] | Consists of the Bank's holdings of U.S. government-guaranteed debentures, U.S. government-guaranteed RMBS, GSE RMBS and GSE commercial MBS. | |||||
[7] | Consists of the Bank's holdings of U.S. government-guaranteed debentures, U.S. government-guaranteed RMBS and GSE RMBS. | |||||
[8] | Consists of the Bank's holdings of non-agency RMBS. |
Estimated_Fair_Values_Narrativ
Estimated Fair Values (Narrative) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2012 | |
position | ||
Fair Value Disclosures [Abstract] | ||
Held-to-maturity, Qualitative Disclosure, Non Agency RMBS Number of Positions, Identified as OTTI This Period | 1 | |
Optional Advance Commitments Excluding CIP and EDP, Par Value | $50,000,000 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Commitments and Contingencies [Line Items] | |||
Derivative, Collateral, Right to Reclaim Cash | $639,452 | $824,695 | |
Derivative, Collateral, Right to Receive Securities | 35,985 | 0 | |
Operating Leases, Rent Expense, Net | 370 | 377 | 362 |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 277 | ||
Operating Leases, Future Minimum Payments, Due in Two Years | 255 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 265 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 131 | ||
Operating Leases, Future Minimum Payments, Due in Five Years | 34 | ||
Operating Leases, Future Minimum Payments Due | 962 | ||
Operating Leases, Future Minimum Payments Receivable, Current | 1,394 | ||
Operating Leases, Future Minimum Payments Receivable, in Two Years | 964 | ||
Operating Leases, Future Minimum Payments Receivable, in Three Years | 829 | ||
Operating Leases, Future Minimum Payments Receivable, in Four Years | 848 | ||
Operating Leases, Future Minimum Payments, Due in Five Years | 861 | ||
Operating Leases Future Minimum Payments Receivable Due | 4,896 | ||
Other FHLBanks [Member] | |||
Commitments and Contingencies [Line Items] | |||
Debt, Gross | 812,000,000 | 739,000,000 | |
Loan Origination Commitments [Member] | |||
Commitments and Contingencies [Line Items] | |||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 14,065 | 14,951 | |
Standby Letters of Credit [Member] | |||
Commitments and Contingencies [Line Items] | |||
Standby Letters of Credit, Final Expiration Year | 2020 | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 4,330,557 | 2,964,486 | |
Unearned Fees on Standby Letters of Credit | 3,746 | 4,227 | |
Consolidated Obligation Bonds [Member] | |||
Commitments and Contingencies [Line Items] | |||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 60,000 | ||
Discount Notes [Member] | |||
Commitments and Contingencies [Line Items] | |||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 750,000 | 500,000 | |
Building and Building Improvements [Member] | |||
Commitments and Contingencies [Line Items] | |||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 243 | ||
Operating Leases, Future Minimum Payments, Due in Two Years | 255 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 265 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 131 | ||
Operating Leases, Future Minimum Payments, Due in Five Years | 34 | ||
Operating Leases, Future Minimum Payments Due | 928 | ||
Furniture and Equipment, Rental Expense, Operating Lease [Member] | |||
Commitments and Contingencies [Line Items] | |||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 34 | ||
Operating Leases, Future Minimum Payments, Due in Two Years | 0 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 0 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 0 | ||
Operating Leases, Future Minimum Payments, Due in Five Years | 0 | ||
Operating Leases, Future Minimum Payments Due | $34 | ||
Maximum [Member] | |||
Commitments and Contingencies [Line Items] | |||
Maximum Original Term of Standby Letters of Credit | 10 years |
Transactions_with_Shareholders1
Transactions with Shareholders (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Transactions with Shareholders [Line Items] | ||
Advances by Federal Home Loan Bank | $18,942,400,000 | $15,978,945,000 |
Directors' Financial Institutions [Member] | ||
Transactions with Shareholders [Line Items] | ||
Advances by Federal Home Loan Bank | 1,235,101,000 | 452,000,000 |
Federal Home Loan Bank Advances At Par Value As Percentage of Total Advances Outstanding | 6.60% | 2.90% |
Common Stock, Value, Outstanding | $60,031,000 | $24,000,000 |
Capital Stock, Percent | 4.90% | 2.10% |
Transactions_with_Other_FHLBan2
Transactions with Other FHLBanks (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Schedule of Other Transactions [Line Items] | |||
Interest Income, Loans to Other Federal Home Loan Banks | $3,504 | $2,031 | $744 |
Loans Made to Other FHLBanks [Roll Forward] | |||
Loans to other FHLBanks, Beginning of period | 0 | 0 | 35,000,000 |
Loans to other FHLBanks, End of period | 0 | 0 | 0 |
Interest Expense, Loans from Other Federal Home Loan Banks | 1,958 | 931 | 1,567 |
Borrowings From Other FHLBanks [Roll Forward] | |||
Loans from other FHLBanks, Beginning of period | 0 | 0 | 0 |
Loans from other FHLBanks, End of period | 0 | 0 | 0 |
FHLBank of San Francisco [Member] | |||
Loans Made to Other FHLBanks [Roll Forward] | |||
Loans made to other FHLBanks | 1,365,000,000 | 475,000,000 | 200,000,000 |
Collections from other FHLBanks | -1,365,000,000 | -475,000,000 | -200,000,000 |
Borrowings From Other FHLBanks [Roll Forward] | |||
Borrowings from other FHLBanks | 565,000,000 | 500,000,000 | 420,000,000 |
Repayments to other FHLBanks | -565,000,000 | -500,000,000 | -420,000,000 |
FHLBank of Des Moines [Member] | |||
Loans Made to Other FHLBanks [Roll Forward] | |||
Loans made to other FHLBanks | 60,000,000 | 0 | 0 |
Collections from other FHLBanks | -60,000,000 | 0 | 0 |
FHLBank of Atlanta [Member] | |||
Loans Made to Other FHLBanks [Roll Forward] | |||
Loans made to other FHLBanks | 60,000,000 | 200,000,000 | 0 |
Collections from other FHLBanks | -60,000,000 | -200,000,000 | 0 |
Borrowings From Other FHLBanks [Roll Forward] | |||
Borrowings from other FHLBanks | 20,000,000 | 0 | 0 |
Repayments to other FHLBanks | -20,000,000 | 0 | 0 |
FHLBank of Seattle [Member] | |||
Borrowings From Other FHLBanks [Roll Forward] | |||
Borrowings from other FHLBanks | 0 | 0 | 40,000,000 |
Repayments to other FHLBanks | 0 | 0 | -40,000,000 |
FHLBank of Topeka [Member] | |||
Loans Made to Other FHLBanks [Roll Forward] | |||
Collections from other FHLBanks | 0 | 0 | -35,000,000 |
Borrowings From Other FHLBanks [Roll Forward] | |||
Borrowings from other FHLBanks | 40,000,000 | 0 | 40,000,000 |
Repayments to other FHLBanks | -40,000,000 | 0 | -40,000,000 |
Federal Home Loan Bank of Chicago [Member] | |||
Borrowings From Other FHLBanks [Roll Forward] | |||
Borrowings from other FHLBanks | 90,000,000 | 0 | 0 |
Repayments to other FHLBanks | -90,000,000 | 0 | 0 |
FHLBank of Indianapolis [Member] | |||
Loans Made to Other FHLBanks [Roll Forward] | |||
Loans made to other FHLBanks | 0 | 377,000,000 | 0 |
Collections from other FHLBanks | 0 | -377,000,000 | 0 |
Borrowings From Other FHLBanks [Roll Forward] | |||
Borrowings from other FHLBanks | 90,000,000 | 0 | 0 |
Repayments to other FHLBanks | ($90,000,000) | $0 | $0 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Loss) (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Accumulated other comprehensive income (loss), Start of period | ($32,641) | ($18,245) | ($45,615) | |||
Reclassifications from accumulated other comprehensive income (loss) to net income | ||||||
Reclassification adjustment for non-credit portion of other-than-temporary impairment losses on held-to-maturity securities recognized as credit losses in net income | 0 | 0 | 351 | |||
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, before Tax | -89 | -94 | -99 | |||
Other amounts of other comprehensive income (loss) | ||||||
Net unrealized gains (losses) on available-for-sale securities | 23,280 | -23,395 | 17,330 | |||
Non-credit portion of other-than-temporary impairment losses on held-to-maturity securities | -1,349 | 0 | -195 | |||
Accretion of non-credit portion of other-than-temporary impairment losses to the carrying value of held-to-maturity securities | 7,200 | 8,237 | 9,836 | |||
Actuarial gain (loss) | -2 | 1,067 | 147 | |||
Prior service cost | 0 | -211 | 0 | |||
Total other comprehensive income (loss) | 29,040 | -14,396 | 27,370 | |||
Total Accumulated Other Comprehensive Income (Loss), End of period | -3,601 | -32,641 | -18,245 | |||
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Accumulated other comprehensive income (loss), Start of period | -868 | [1] | 22,527 | [1] | 5,197 | [1] |
Other amounts of other comprehensive income (loss) | ||||||
Net unrealized gains (losses) on available-for-sale securities | 23,280 | [1] | -23,395 | [1] | 17,330 | [1] |
Total other comprehensive income (loss) | 23,280 | [1] | -23,395 | [1] | 17,330 | [1] |
Total Accumulated Other Comprehensive Income (Loss), End of period | 22,412 | [1] | -868 | [1] | 22,527 | [1] |
Accumulated Other-than-Temporary Impairment [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Accumulated other comprehensive income (loss), Start of period | -33,200 | -41,437 | -51,429 | |||
Reclassifications from accumulated other comprehensive income (loss) to net income | ||||||
Reclassification adjustment for non-credit portion of other-than-temporary impairment losses on held-to-maturity securities recognized as credit losses in net income | 351 | |||||
Other amounts of other comprehensive income (loss) | ||||||
Non-credit portion of other-than-temporary impairment losses on held-to-maturity securities | -1,349 | -195 | ||||
Accretion of non-credit portion of other-than-temporary impairment losses to the carrying value of held-to-maturity securities | 7,200 | 8,237 | 9,836 | |||
Total other comprehensive income (loss) | 5,851 | 8,237 | 9,992 | |||
Total Accumulated Other Comprehensive Income (Loss), End of period | -27,349 | -33,200 | -41,437 | |||
Accumulated Defined Benefit Plans Adjustment [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Accumulated other comprehensive income (loss), Start of period | 1,427 | 665 | 617 | |||
Reclassifications from accumulated other comprehensive income (loss) to net income | ||||||
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, before Tax | -89 | -94 | -99 | |||
Other amounts of other comprehensive income (loss) | ||||||
Actuarial gain (loss) | -2 | 1,067 | 147 | |||
Prior service cost | -211 | |||||
Total other comprehensive income (loss) | -91 | 762 | 48 | |||
Total Accumulated Other Comprehensive Income (Loss), End of period | $1,336 | $1,427 | $665 | |||
[1] | Net unrealized gains (losses) on available-for-sale securities are net of unrealized gains and losses relating to hedged interest rate risk included in net income. |
Other_Operating_Expenses_Detai
Other Operating Expenses (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Other Operating Expenses [Abstract] | |||
Occupancy expense | $2,607 | $2,905 | $2,973 |
Legal fees | 5,440 | 1,278 | 620 |
Professional fees | 3,984 | 3,054 | 3,651 |
Database fees | 3,181 | 3,259 | 3,268 |
Software costs | 5,069 | 5,727 | 6,337 |
Other | 10,127 | 9,749 | 10,554 |
Total other operating expenses | $30,408 | $25,972 | $27,403 |