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Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
INTEREST INCOME      
Advances $ 854,599 $ 867,215 $ 514,176
Prepayment fees on advances, net 35,011 216 898
Interest-bearing deposits 22,390 5,433 2,045
Securities purchased under agreements to resell 123,438 77,718 27,486
Federal funds sold 58,015 108,144 58,642
Investment securities:      
Trading securities 22,037 8,789 10,604
Available-for-sale securities 115,942 143,952 118,270
Held-to-maturity securities 65,758 77,892 79,723
Total investment securities 203,737 230,633 208,597
Mortgage loans held for portfolio 147,885 136,672 125,002
Other 25 22 43
Total interest income 1,445,100 1,426,053 936,889
Consolidated obligations:      
Bonds 598,585 545,228 421,622
Discount notes 569,896 561,443 233,081
Total consolidated obligations 1,168,481 1,106,671 654,703
Deposits 6,582 5,311 3,615
Mandatorily redeemable capital stock 974 1,923 1,558
Other borrowings 37 38 10
Total interest expense 1,176,074 1,113,943 659,886
NET INTEREST INCOME 269,026 312,110 277,003
Provision for (reduction of ) credit losses 85 (34) (96)
NET INTEREST INCOME AFTER PROVISION FOR (REDUCTION OF) CREDIT LOSSES 268,941 312,144 277,099
OTHER INCOME (LOSS)      
Net other-than-temporary impairment losses on investment securities, credit portion (1,212) (532) (1,454)
Litigation settlements 29,361 12,769 20,761
Loss on early extinguishment of debt (15,238) 0 0
Service fees 12,987 10,268 8,697
Net unrealized gains (losses) on trading securities 1,287 (4,515) (6,078)
Net gains on derivatives and hedging activities 1,419    
Net gains on derivatives and hedging activities   2,336 551
Realized net gain from sale of held-to-maturity securities [1] 12,031 0 0
Other 349 500 435
Total other income 40,984 20,826 22,912
OTHER EXPENSE      
Compensation and benefits 47,263 47,681 46,799
Other operating expenses 25,017 24,243 24,342
Federal Housing Finance Agency (the FHFA) 3,914 3,582 3,800
Office of Finance 3,468 3,526 3,260
Other 18,222 12,870 10,300
Total other expense 97,884 91,902 88,501
INCOME BEFORE ASSESSMENTS 212,041 241,068 211,510
AHP assessments 21,302 24,299 21,307
NET INCOME $ 190,739 $ 216,769 $ 190,203
[1]
The securities sold had less than 15 percent of the acquired principal outstanding at the time of the sale. Such sales are treated as maturities for the purposes of security classification. The sale does not impact our ability and intent to hold the remaining investments classified as held-to-maturity through their stated maturity dates.