Allowance for Credit Losses (Tables)

12 Months Ended

Dec. 31, 2019

Receivables [Abstract]

Allowance for Credit Losses by Impairment Methodology

The following table summarizes the allowance for credit losses and recorded investment of the Bank’s conventional mortgage loan portfolio by impairment methodology (dollars in millions):

	December 31,
	2019		2018
Allowance for credit losses
Collectively evaluated for impairment	$	1	$	1
Recorded investment1
Collectively evaluated for impairment	$	8,825	$	7,306
Individually evaluated for impairment, without a related allowance	49		54
Total recorded investment	$	8,874	$	7,360

1 Represents the unpaid principal balance adjusted for accrued interest, unamortized premiums, discounts, basis adjustments, and direct write-downs.

Past Due Financing Receivables

The tables below present the payment status of mortgage loans based on recorded investment as well as other delinquency statistics (dollars in millions):

	December 31, 2019
Payment status	Conventional MPF/MPP			Government-Guaranteed or -Insured6			Total
Past due 30 - 59 days	$	57		$	20		$	77
Past due 60 - 89 days	14			5			19
Past due 90 - 179 days	10			4			14
Past due 180 days or more	10			3			13
Total past due mortgage loans	91			32			123
Total current mortgage loans	8,783			477			9,260
Total recorded investment of mortgage loans1	$	8,874		$	509		$	9,383
In process of foreclosure (included above)2	$	5		$	1		$	6
Serious delinquency rate3	—		%	1		%	—		%
Past due 90 days or more and still accruing interest4	$	—		$	7		$	7
Non-accrual mortgage loans5	$	31		$	—		$	31

	December 31, 2018
Payment status	Conventional MPF/MPP			Government-Guaranteed or -Insured6			Total
Past due 30 - 59 days	$	49		$	17		$	66
Past due 60 - 89 days	14			5			19
Past due 90 - 179 days	11			4			15
Past due 180 days or more	13			4			17
Total past due mortgage loans	87			30			117
Total current mortgage loans	7,273			486			7,759
Total recorded investment of mortgage loans1	$	7,360		$	516		$	7,876
In process of foreclosure (included above)2	$	8		$	2		$	10
Serious delinquency rate3	—		%	2		%	—		%
Past due 90 days or more and still accruing interest4	$	—		$	8		$	8
Non-accrual mortgage loans5	$	36		$	—		$	36

1 Represents the unpaid principal balance adjusted for accrued interest, unamortized premiums, discounts, basis adjustments, and direct write-downs.

2 Includes loans where the decision of foreclosure or similar alternative such as pursuit of deed-in-lieu has been reported. Loans in process of foreclosure are included in past due or current loans depending on their payment status.

3 Represents mortgage loans that are 90 days or more past due or in the process of foreclosure expressed as a percentage of the total recorded investment.

4 Represents government-insured mortgage loans that are 90 days or more past due.

5 Represents conventional mortgage loans that are 90 days or more past due or TDRs.

6

The Bank did not record any allowance for credit losses on government-guaranteed or -insured mortgage loans at December 31, 2019 and 2018.