Consolidated Obligations (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Short-term and Long-term Debt [Line Items]

Schedule of Maturities of Debt

The following table presents a summary of the Bank’s consolidated obligation bonds outstanding by year of contractual maturity as of September 30, 2020 and December 31, 2019.

	September 30, 2020				December 31, 2019
(dollars in thousands) Year of Contractual Maturity	Amount		Weighted Average Interest Rate		Amount		Weighted Average Interest Rate
Due in 1 year or less	$	30,135,080	0.48	%	$	50,306,900	1.83	%
Due after 1 year through 2 years	4,160,445		2.13		7,268,705		2.10
Due after 2 years through 3 years	1,805,650		2.39		2,705,420		2.36
Due after 3 years through 4 years	1,257,825		2.47		1,469,400		2.58
Due after 4 years through 5 years	1,107,625		1.78		947,375		2.69
Thereafter	2,991,275		2.14		4,006,400		2.73
Total par value	$	41,457,900	0.94	%	$	66,704,200	1.96	%

The following table presents consolidated obligation bonds outstanding by the earlier of contractual maturity or next call date as of September 30, 2020 and December 31, 2019.

(in thousands) Year of Contractual Maturity or Next Call Date	September 30, 2020		December 31, 2019
Due in 1 year or less	$	32,028,080	$	54,157,900
Due after 1 year through 2 years	4,171,445		6,573,705
Due after 2 years through 3 years	1,793,650		2,623,420
Due after 3 years through 4 years	1,142,825		1,063,400
Due after 4 years through 5 years	812,625		827,375
Thereafter	1,509,275		1,458,400
Total par value	$	41,457,900	$	66,704,200

Schedule of Long-term Debt by Call Feature

The following table details interest rate payment terms for the Bank's consolidated obligation bonds as of September 30, 2020 and December 31, 2019.

(in thousands)	September 30, 2020		December 31, 2019
Par value of consolidated bonds:
Fixed-rate	$	19,844,650	$	29,292,200
Step-up	40,000		705,000
Floating-rate	21,573,250		36,707,000
Total par value	41,457,900		66,704,200
Bond premiums	100,567		85,028
Bond discounts	(7,683)		(8,350)
Concession fees	(4,810)		(6,118)
Hedging adjustments	37,333		33,047
Total book value	$	41,583,307	$	66,807,807

The following table presents the Bank’s consolidated obligation bonds outstanding between noncallable and callable as of September 30, 2020 and December 31, 2019.

(in thousands)	September 30, 2020		December 31, 2019
Noncallable	$	36,784,650	$	61,597,600
Callable	4,673,250		5,106,600
Total par value	$	41,457,900	$	66,704,200

Schedule of Short-term Debt

The following table details the Bank’s consolidated obligation discount notes as of September 30, 2020 and December 31, 2019.

(dollars in thousands)	September 30, 2020			December 31, 2019
Book value	$	13,995,722		$	23,141,362
Par value	13,999,828			23,211,524
Weighted average interest rate (1)	0.16		%	1.61		%

Note:

(1) Represents an implied rate.