Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

The following table presents the Bank's various off-balance sheet commitments which are described in detail below.


(in thousands)	September 30, 2020						December 31, 2019
Notional amount	Expiration Date Within One Year		Expiration Date After One Year		Total		Total
Standby letters of credit outstanding (1) (2)	$	19,605,400	$	—	$	19,605,400	$	17,370,617
Commitments to fund additional advances and BOB loans	1,643		—		1,643		19,796
Commitments to purchase mortgage loans	68,027		—		68,027		73,574
Unsettled consolidated obligation bonds, at par	39,000		—		39,000		62,000
Unsettled consolidated obligation discount notes, at par	65,000		—		65,000		1,083,406

Notes:

(1) Excludes approved requests to issue future standby letters of credit of $461.2 million and $23.9 million at September 30, 2020 and December 31, 2019, respectively.

(2) Letters of credit in the amount of $4.9 billion and $4.3 billion at September 30, 2020 and December 31, 2019, respectively, have renewal language that permits the letter of credit to be renewed for an additional period with a maximum renewal period of approximately 5 years.