The Bank holds a wide range of fixed and variable rate advance products with different maturities, interest rates, payment characteristics, and optionality. Fixed rate advances generally have maturities ranging from overnight to 30 years. Variable rate advances generally have maturities ranging from one month to ten years, where the interest rates reset periodically to a specified interest rate index such as SOFR or consolidated obligation yields.


	December 31, 2025				December 31, 2024
Redemption Term	Amount1		Weighted Average Interest Rate		Amount1		Weighted Average Interest Rate
Overdrawn demand deposit accounts	$	—	—	%	$	1	6.12	%
Due in one year or less	53,895		3.87		45,738		4.44
Due after one year through two years	14,770		3.84		16,105		3.84
Due after two years through three years	15,574		4.12		12,751		4.19
Due after three years through four years	11,013		3.93		13,328		4.30
Due after four years through five years	9,511		4.12		7,787		4.33
Thereafter	5,415		4.27		5,020		4.25
Total par value	110,178		3.95	%	100,730		4.27	%
Premiums	2				3
Discounts	(22)				(21)
Fair value hedging adjustments	72				(761)

Total	$	110,230			$	99,951

The Bank offers advances to members and eligible housing associates that may be prepaid on predetermined dates (call dates) prior to maturity without incurring prepayment fees (callable advances). Other advances may require a prepayment fee or credit that makes the Bank financially indifferent to the prepayment of the advance. At December 31, 2025 and 2024, the Bank had callable advances outstanding totaling $10.6 billion and $10.4 billion.


	Redemption Term or Next Call Date
	December 31, 2025		December 31, 2024
Overdrawn demand deposit accounts	$	—	$	1
Due in one year or less	63,698		54,893
Due after one year through two years	13,315		14,474
Due after two years through three years	13,455		10,312
Due after three years through four years	7,976		11,080
Due after four years through five years	6,361		4,990
Thereafter	5,373		4,980
Total par value	$	110,178	$	100,730

The Bank generally charges a prepayment fee for advances that a borrower elects to terminate prior to the stated maturity or outside of a predetermined call date. The fees charged are priced to make the Bank financially indifferent to the prepayment of the advance. For certain advances with symmetrical prepayment features, the Bank may charge the borrower a prepayment fee or pay the borrower a prepayment credit, depending on certain circumstances, such as movements in interest rates, when the advance is prepaid. Prepayment fees and credits are recorded net of the hedged item basis adjustments, if applicable, in advance interest income on the Statements of Income.

The Bank’s advances are primarily concentrated in commercial banks and insurance companies. The following table summarizes advances outstanding to members exceeding 10 percent of total advances outstanding at December 31, 2025 (dollars in millions):

The Bank evaluates advances for credit losses on a quarterly basis and manages its credit exposure to advances through an approach that includes establishing a credit limit for each borrower. This approach includes an ongoing review of each borrower’s financial condition in conjunction with the Bank’s collateral and lending policies to limit risk of loss while balancing borrowers’ needs for a reliable source of funding. In addition, the Bank lends to eligible borrowers in accordance with the FHLBank Act, Finance Agency regulations, and other applicable laws.

The Bank is required by regulation to obtain sufficient collateral to fully secure its advances. The estimated value of the collateral required to secure each borrower’s advances is calculated by applying loan-to-value discounts, or haircuts, to the unpaid principal balance or market value, as applicable, of the collateral. The Bank also has policies and procedures for validating the reasonableness of the Bank’s collateral valuations. In addition, collateral verifications and on-site reviews are performed by the Bank based on the risk profile of the borrower. Management believes that these policies effectively manage the Bank’s credit risk from advances.

•other real estate-related collateral acceptable to the Bank, such as second lien mortgages, home equity lines of credit, municipal securities, and commercial real estate mortgages, provided such collateral has a readily ascertainable value and the Bank can perfect a security interest in it.

CFIs may also pledge collateral consisting of secured small business, small agri-business, or small farm loans. As additional security, the FHLBank Act provides that the Bank has a lien on each member’s capital stock investment; however, capital stock cannot be pledged as collateral to secure advances.

Collateral arrangements may vary depending upon borrower credit quality, financial condition and performance; borrowing capacity, the type of member (e.g., commercial bank, insurance company, or CDFI), collateral availability, and overall credit exposure to the borrower. The Bank can also require additional or substitute collateral to protect its security interest. The Bank periodically evaluates and makes changes to its collateral guidelines and collateral haircuts.

Borrowers may pledge collateral to the Bank by executing a blanket pledge agreement, specifically assigning collateral, or placing physical possession of collateral with the Bank or its custodians. The Bank perfects its security interest in all pledged collateral by filing Uniform Commercial Code financing statements or by taking possession or control of the collateral. Under the FHLBank Act, any security interest granted to the Bank by its members, or any affiliates of its members, has priority over the claims and rights of any party (including any receiver, conservator, trustee, or similar party having rights of a lien creditor), unless those claims and rights would be entitled to priority under otherwise applicable law and are held by actual purchasers or by parties that have perfected security interests.

Under a blanket pledge agreement, the Bank is granted a security interest in all financial assets of the borrower to fully secure the borrower’s obligation. Other than securities and cash deposits, the Bank does not initially take delivery of collateral from blanket pledge agreement borrowers. In the event of a default or a deterioration in the financial condition of a blanket pledge agreement borrower, the Bank has the ability to require delivery of pledged collateral sufficient to secure the borrower’s obligation. With respect to non-blanket pledge agreement borrowers that are federally insured, the Bank generally requires collateral to be specifically assigned. With respect to non-blanket pledge agreement borrowers that are not federally insured (typically insurance companies, CDFIs, and housing associates), the Bank generally takes control of collateral through the delivery of cash, securities, or loans to the Bank or its custodians.

The Bank evaluates the credit quality of advances using a risk-based approach considering collateral and taking into account each borrower’s financial strength. This assessment considers the collateral payment performance and the type and amount of collateral pledged, to be the primary indicators of credit quality. At December 31, 2025 and 2024, the Bank had rights to collateral on a borrower-by-borrower basis with an unpaid principal balance or market value, as applicable, in excess of its outstanding advances.

At December 31, 2025 and 2024, none of the Bank’s advances were past due, on non-accrual status, or considered impaired. In addition, there were no modifications related to advances resulting from a borrower experiencing financial difficulties during the years ended December 31, 2025 and 2024.

The Bank has never experienced a credit loss on its advances. Based upon the Bank’s collateral and lending policies, the collateral held as security, and the repayment history on advances, management has determined that there were no expected credit losses on its advances as of December 31, 2025 and 2024.