Derivatives and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

Fair Value of Derivative Instruments (in thousands)



	March 31, 2013
	Notional Amount of Derivatives		Derivative Assets			Derivative Liabilities
Derivatives designated as fair value hedging instruments:
Interest rate swaps	$	6,427,875	$	56,824		$	331,939
Derivatives not designated as hedging instruments:
Interest rate swaps	2,433,000		2,289			10,698
Mortgage delivery commitments	111,546		123			359
Total derivatives not designated as hedging instruments	2,544,546		2,412			11,057
Total derivatives before netting and collateral adjustments	$	8,972,421	59,236			342,996
Netting adjustments			(52,802		)	(52,802		)
Cash collateral and related accrued interest			(1,600		)	(181,264		)
Total collateral and netting adjustments ⁽¹⁾			(54,402		)	(234,066		)
Total derivative assets and total derivative liabilities			$	4,834		$	108,930

	December 31, 2012
	Notional Amount of Derivatives		Derivative Assets			Derivative Liabilities
Derivatives designated as fair value hedging instruments:
Interest rate swaps	$	8,262,375	$	66,836		$	372,959
Derivatives not designated as hedging instruments:
Interest rate swaps	3,774,000		2,686			15,930
Mortgage delivery commitments	123,588		155			584
Total derivatives not designated as hedging instruments	3,897,588		2,841			16,514
Total derivatives before netting and collateral adjustments	$	12,159,963	69,677			389,473
Netting adjustments			(61,900		)	(61,900		)
Cash collateral and related accrued interest			(1,900		)	(212,685		)
Total collateral and netting adjustments ⁽¹⁾			(63,800		)	(274,585		)
Total derivative assets and total derivative liabilities			$	5,877		$	114,888


(1)	Amounts represent the effects of legally enforceable master netting agreements that allow the FHLBank to settle positive and negative positions and of cash collateral held or placed with the same counterparties.

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]

Net Gains on Derivatives and Hedging Activities (in thousands)



	Three Months Ended March 31,
	2013			2012
Derivatives and hedged items in fair value hedging relationships:
Interest rate swaps	$	2,922		$	3,454
Derivatives not designated as hedging instruments:
Economic hedges:
Interest rate swaps	4,231			4,586
Forward rate agreements	—			(3,049		)
Net interest settlements	413			(1,223		)
Mortgage delivery commitments	(3,221		)	(14		)
Total net gains related to derivatives not designated as hedging instruments	1,423			300
Net gains on derivatives and hedging activities	$	4,345		$	3,754

Schedule of Derivative Instruments By Type, Gain (Loss) in Statement of Financial Performance [Table Text Block]

Effect of Fair Value Hedge Related Derivative Instruments (in thousands)



	Three Months Ended March 31,
2013	Gain/(Loss) on Derivative			Gain/(Loss) on Hedged Item			Net Fair Value Hedge Ineffectiveness			Effect of Derivatives on Net Interest Income⁽¹⁾
Hedged Item Type:
Advances	$	40,420		$	(37,783	)	$	2,637		$	(28,752	)
Consolidated Bonds	(8,647		)	8,932			285			8,488
Total	$	31,773		$	(28,851	)	$	2,922		$	(20,264	)
2012
Hedged Item Type:
Advances	$	76,502		$	(72,716	)	$	3,786		$	(81,105	)
Consolidated Bonds	1,279			(1,611		)	(332		)	8,881
Total	$	77,781		$	(74,327	)	$	3,454		$	(72,224	)


(1)	The net interest on derivatives in fair value hedge relationships is included in the interest income/expense line item of the respective hedged item.

Offsetting Assets and Liabilities [Table Text Block]

Offsetting of Derivative Assets and Derivative Liabilities (in thousands)



	March 31, 2013
	Derivative Assets			Derivative Liabilities
Derivative instruments with legal right of offset:
Gross recognized amount	$	59,113		$	342,637
Gross amounts of offsetting adjustments	(54,402		)	(234,066		)
Net amounts after offsetting adjustments	4,711			108,571
Derivative instruments without legal right of offset	123			359
Net unsecured amount	$	4,834		$	108,930

	December 31, 2012
	Derivative Assets			Derivative Liabilities
Derivative instruments with legal right of offset:
Gross recognized amount	$	69,522		$	388,889
Gross amounts of offsetting adjustments	(63,800		)	(274,585		)
Net amounts after offsetting adjustments	5,722			114,304
Derivative instruments without legal right of offset	155			584
Net unsecured amount	$	5,877		$	114,888

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

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- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References+ Details