Consolidated Obligations (Tables)

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Discount Notes

The following table summarizes the Bank’s discount notes (dollars in millions):

	December 31, 2025				December 31, 2024
	Amount		Weighted Average Interest Rate		Amount		Weighted Average Interest Rate
Par value	$	85,186	3.76	%	$	65,250	4.51	%
Discounts and concessions1	(586)				(586)
Fair value hedging adjustments	17				—
Fair value option adjustments	3				16
Total	$	84,620			$	64,680

1    Concessions represent fees paid to dealers in connection with the issuance of certain consolidated obligation discount notes.

Bonds by Contractual Maturity

The following table summarizes the Bank’s bonds outstanding by contractual maturity (dollars in millions):

	December 31, 2025				December 31, 2024
Year of Contractual Maturity	Amount		Weighted Average Interest Rate		Amount		Weighted Average Interest Rate
Due in one year or less	$	38,808	3.76	%	$	43,287	4.53	%
Due after one year through two years	32,347		3.84		28,333		4.45
Due after two years through three years	3,577		4.11		2,712		3.85
Due after three years through four years	3,351		3.71		2,957		4.19
Due after four years through five years	2,399		3.44		4,021		4.01
Thereafter	8,706		4.52		7,278		4.11
Total par value	89,188		3.87	%	88,588		4.41	%
Premiums	28				30
Discounts and concessions1	(23)				(25)
Fair value hedging adjustments	56				(22)
Total	$	89,249			$	88,571

1    Concessions represent fees paid to dealers in connection with the issuance of certain consolidated obligation bonds.

The following table summarizes the Bank’s bonds outstanding by year of contractual maturity or next call date (dollars in millions):

	December 31,
Year of Contractual Maturity or Next Call Date	2025		2024
Due in one year or less	$	79,984	$	69,363
Due after one year through two years	3,609		12,793
Due after two years through three years	2,901		2,531
Due after three years through four years	1,594		1,952
Due after four years through five years	685		1,399
Thereafter	415		550
Total par value	$	89,188	$	88,588

Bonds by Call Feature

The following table summarizes the Bank’s bonds outstanding by call features (dollars in millions):

	December 31,
	2025		2024
Non-callable or non-putable	$	37,814	$	56,373
Callable	51,374		32,215
Total par value	$	89,188	$	88,588