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Investments (Tables)
 3 Months Ended
Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block]
Table 4.1 - Trading Securities by Major Security Type
(dollars in thousands)
 
March 31, 2020
 
December 31, 2019
Corporate bonds
$
5,330

 
$
5,896

U.S. Treasury obligations
3,554,179

 
2,240,236

 
3,559,509

 
2,246,132

 
 
 
 
MBS
 

 
 
U.S. government-guaranteed – single-family
3,794

 
4,047

Government-sponsored enterprise (GSE) – single-family
65

 
85

 
3,859

 
4,132

Total
$
3,563,368

 
$
2,250,264
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]
Table 4.2 - Available-for-Sale Securities by Major Security Type
(dollars in thousands)

 
March 31, 2020
 
 
 
Amounts Recorded in Accumulated Other Comprehensive Loss
 
 
 
Amortized
Cost (1)
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
 Value
State housing-finance-agency obligations (HFA securities)
$
69,320

 
$
—

 
$
(3,925
)
 
$
65,395

Supranational institutions
457,721

 
—

 
(19,437
)
 
438,284

U.S. government-owned corporations
376,711

 
—

 
(61,987
)
 
314,724

GSE
149,068

 
—

 
(15,279
)
 
133,789

 
1,052,820

 
—

 
(100,628
)
 
952,192

MBS
 

 
 

 
 

 
 

U.S. government guaranteed – single-family
52,820

 
—

 
(234
)
 
52,586

U.S. government guaranteed – multifamily
247,526

 
917

 
(15
)
 
248,428

GSE – single-family
2,317,683

 
28,079

 
(3,122
)
 
2,342,640

GSE – multifamily
3,735,144

 
6,220

 
(90,876
)
 
3,650,488

 
6,353,173

 
35,216

 
(94,247
)
 
6,294,142

Total
$
7,405,993

 
$
35,216

 
$
(194,875
)
 
$
7,246,334

 
December 31, 2019
 
 
 
Amounts Recorded in Accumulated Other Comprehensive Loss
 
 
 
Amortized
Cost (1)
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
 Value
HFA securities
$
69,320

 
$
—

 
$
(4,668
)
 
$
64,652

Supranational institutions
429,354

 
—

 
(12,925
)
 
416,429

U.S. government-owned corporations
323,192

 
—

 
(26,431
)
 
296,761

GSE
130,935

 
—

 
(7,149
)
 
123,786

 
952,801

 
—

 
(51,173
)
 
901,628

MBS
 

 
 

 
 

 
 

U.S. government guaranteed – single-family
60,003

 
—

 
(2,289
)
 
57,714

U.S. government guaranteed – multifamily
283,674

 
—

 
(1,057
)
 
282,617

GSE – single-family
2,598,325

 
5,323

 
(13,377
)
 
2,590,271

GSE – multifamily
3,588,119

 
3,109

 
(14,458
)
 
3,576,770

 
6,530,121

 
8,432

 
(31,181
)
 
6,507,372

Total
$
7,482,922

 
$
8,432

 
$
(82,354
)
 
$
7,409,000

_______________________
(1)
Amortized cost of available-for-sale securities includes adjustments made to the cost basis of an investment for accretion, amortization, collection of cash, and fair-value hedge accounting adjustments. Amortized cost excludes accrued interest receivable of $20.0 million and $27.5 million at March 31, 2020, and December 31, 2019.
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value [Table Text Block]
Table 4.3 - Available-for-Sale Securities in a Continuous Unrealized Loss Position
(dollars in thousands)

 
March 31, 2020
 
Continuous Unrealized Loss Less than 12 Months
 
Continuous Unrealized Loss 12 Months or More
 
Total
 
Fair
 Value
 
Unrealized
 Losses
 
Fair
 Value
 
Unrealized
 Losses
 
Fair
 Value
 
Unrealized
 Losses
HFA securities
$
12,497

 
$
(1,323
)
 
$
45,298

 
$
(2,602
)
 
$
57,795

 
$
(3,925
)
Supranational institutions
—

 
—

 
438,284

 
(19,437
)
 
438,284

 
(19,437
)
U.S. government-owned corporations
—

 
—

 
314,724

 
(61,987
)
 
314,724

 
(61,987
)
GSE
—

 
—

 
133,789

 
(15,279
)
 
133,789

 
(15,279
)
 
12,497

 
(1,323
)
 
932,095

 
(99,305
)
 
944,592

 
(100,628
)
 
 
 
 
 
 
 
 
 
 
 
 
MBS
 

 
 

 
 

 
 

 
 

 
 

U.S. government guaranteed – single-family
1,294

 
(8
)
 
51,292

 
(226
)
 
52,586

 
(234
)
U.S. government guaranteed – multifamily
—

 
—

 
39,735

 
(15
)
 
39,735

 
(15
)
GSE – single-family
126,722

 
(605
)
 
397,329

 
(2,517
)
 
524,051

 
(3,122
)
GSE – multifamily
2,796,682

 
(87,572
)
 
288,652

 
(3,304
)
 
3,085,334

 
(90,876
)
 
2,924,698

 
(88,185
)
 
777,008

 
(6,062
)
 
3,701,706

 
(94,247
)
Total temporarily impaired
$
2,937,195

 
$
(89,508
)
 
$
1,709,103

 
$
(105,367
)
 
$
4,646,298

 
$
(194,875
)

 
December 31, 2019
 
Continuous Unrealized Loss Less than 12 Months
 
Continuous Unrealized Loss 12 Months or More
 
Total
 
Fair
 Value
 
Unrealized
 Losses
 
Fair
 Value
 
Unrealized
 Losses
 
Fair
 Value
 
Unrealized
 Losses
HFA securities
$
12,229

 
$
(1,591
)
 
$
52,423

 
$
(3,077
)
 
$
64,652

 
$
(4,668
)
Supranational institutions
—

 
—

 
416,429

 
(12,925
)
 
416,429

 
(12,925
)
U.S. government-owned corporations
—

 
—

 
296,761

 
(26,431
)
 
296,761

 
(26,431
)
GSE
—

 
—

 
123,786

 
(7,149
)
 
123,786

 
(7,149
)
 
12,229

 
(1,591
)
 
889,399

 
(49,582
)
 
901,628

 
(51,173
)
MBS
 

 
 

 
 

 
 

 
 

 
 

U.S. government guaranteed – single-family
10,885

 
(1
)
 
45,490

 
(2,288
)
 
56,375

 
(2,289
)
U.S. government guaranteed – multifamily
—

 
—

 
282,617

 
(1,057
)
 
282,617

 
(1,057
)
GSE – single-family
189,402

 
(968
)
 
1,423,927

 
(12,409
)
 
1,613,329

 
(13,377
)
GSE – multifamily
1,800,586

 
(13,242
)
 
405,778

 
(1,216
)
 
2,206,364

 
(14,458
)
 
2,000,873

 
(14,211
)
 
2,157,812

 
(16,970
)
 
4,158,685

 
(31,181
)
Total temporarily impaired
$
2,013,102

 
$
(15,802
)
 
$
3,047,211

 
$
(66,552
)
 
$
5,060,313

 
$
(82,354
)
Investments Classified by Contractual Maturity Date [Table Text Block]
Table 4.6 - Held-to-Maturity Securities by Contractual Maturity
(dollars in thousands)

 
March 31, 2020
 
December 31, 2019
Year of Maturity
Amortized
Cost
 
Carrying
Value (1)
 
Fair
Value
 
Amortized
Cost
 
Carrying
Value (1)
 
Fair
Value
Due in one year or less
$
3,090

 
$
3,090

 
$
3,083

 
$
3,090

 
$
3,090

 
$
3,089

Due after one year through five years
—

 
—

 
—

 
—

 
—

 
—

Due after five years through 10 years
15,405

 
15,405

 
14,903

 
15,405

 
15,405

 
15,270

Due after 10 years
61,185

 
61,185

 
51,375

 
68,755

 
68,755

 
65,046

 
79,680

 
79,680

 
69,361

 
87,250

 
87,250

 
83,405

MBS (2)
653,967

 
597,208

 
664,609

 
859,892

 
783,857

 
952,005

Total
$
733,647

 
$
676,888

 
$
733,970

 
$
947,142

 
$
871,107

 
$
1,035,410

_______________________
(1)
Carrying value of held-to-maturity securities represents the sum of amortized cost and the amount of noncredit-related other-than-temporary impairment recognized in accumulated other comprehensive loss and the allowance for credit losses.
(2)
MBS are not presented by contractual maturity because their expected maturities will likely differ from contractual maturities because borrowers of the underlying loans may have the right to call or prepay their obligations with or without call or prepayment fees.
Table 4.4 - Available-for-Sale Securities by Contractual Maturity
(dollars in thousands)
 
March 31, 2020
 
December 31, 2019
Year of Maturity
Amortized
Cost
 
Fair
 Value
 
Amortized
Cost
 
Fair
 Value
Due in one year or less
$
7,600

 
$
7,600

 
$
7,600

 
$
7,563

Due after one year through five years
61,720

 
57,795

 
61,720

 
57,089

Due after five years through 10 years
509,594

 
488,131

 
477,232

 
463,465

Due after 10 years
473,906

 
398,666

 
406,249

 
373,511

 
1,052,820

 
952,192

 
952,801

 
901,628

MBS (1)
6,353,173

 
6,294,142

 
6,530,121

 
6,507,372

Total
$
7,405,993

 
$
7,246,334

 
$
7,482,922

 
$
7,409,000

_______________________
(1)
MBS are not presented by contractual maturity because their expected maturities will likely differ from contractual maturities because borrowers of the underlying loans may have the right to call or prepay obligations with or without call or prepayment fees.
Debt Securities, Held-to-maturity [Table Text Block]
Table 4.5 - Held-to-Maturity Securities by Major Security Type
(dollars in thousands)

 
March 31, 2020
 
Amortized Cost(1)
 
Allowance for Credit Losses(2)
 
Other-Than-Temporary Impairment Recognized in Accumulated Other Comprehensive Loss(2)
 
Carrying Value
 
Gross Unrecognized Holding Gains
 
Gross Unrecognized Holding Losses
 
Fair Value
HFA securities
$
79,680

 
$
—

 
$
—

 
$
79,680

 
$
—

 
$
(10,319
)
 
$
69,361

 


 
 
 


 


 


 


 


MBS
 

 
 
 
 

 
 

 
 

 
 

 
 

U.S. government guaranteed – single-family
6,686

 
—

 
—

 
6,686

 
76

 
—

 
6,762

GSE – single-family
281,285

 
—

 
—

 
281,285

 
5,464

 
(510
)
 
286,239

GSE – multifamily
90,927

 
—

 
—

 
90,927

 
518

 
—

 
91,445

Private-label
275,069

 
(3,768
)
 
(52,991
)
 
218,310

 
62,591

 
(738
)
 
280,163

 
653,967

 
(3,768
)
 
(52,991
)
 
597,208

 
68,649

 
(1,248
)
 
664,609

Total
$
733,647

 
$
(3,768
)
 
$
(52,991
)
 
$
676,888

 
$
68,649

 
$
(11,567
)
 
$
733,970


 
December 31, 2019
 
Amortized Cost(1)
 
Other-Than-Temporary Impairment Recognized in Accumulated Other Comprehensive Loss(2)
 
Carrying Value
 
Gross Unrecognized Holding Gains
 
Gross Unrecognized Holding Losses
 
Fair Value
HFA securities
$
87,250

 
$
—

 
$
87,250

 
$
—

 
$
(3,845
)
 
$
83,405

 
 
 
 
 
 
 
 
 
 
 
 
MBS
 
 
 
 
 
 
 
 
 
 
 
U.S. government guaranteed – single-family
6,987

 
—

 
6,987

 
129

 
—

 
7,116

GSE – single-family
303,604

 
—

 
303,604

 
5,197

 
(246
)
 
308,555

GSE – multifamily
140,661

 
—

 
140,661

 
612

 
(2
)
 
141,271

Private-label
408,640

 
(76,035
)
 
332,605

 
162,904

 
(446
)
 
495,063

 
859,892

 
(76,035
)
 
783,857

 
168,842

 
(694
)
 
952,005

Total
$
947,142

 
$
(76,035
)
 
$
871,107

 
$
168,842

 
$
(4,539
)
 
$
1,035,410

_______________________
(1)
Amortized cost of held-to-maturity securities includes adjustments made to the cost basis of an investment for accretion, amortization, and collection of cash. Amortized cost excludes accrued interest receivable of $1.6 million and $2.0 million at March 31, 2020, and December 31, 2019.
(2)
With the adoption of changes to accounting standards on credit impairment on January 1, 2020, the other-than-temporary impairment approach was replaced with an allowance for credit loss; however, other-than-temporary impairment remains for those securities that had credit impairment prior to the adoption date. See Note 2 — Summary of Significant Accounting Policies and Note 3 — Recently Issued and Adopted Accounting Guidance for further information.
Realized Gain (Loss) on Investments [Table Text Block]
Table 4.7 - Proceeds from Sale and Gains and Losses on Held-to-Maturity Securities (1) 
(dollars in thousands)

 
 
For the Three Months Ended March 31,
 
 
2020
 
2019
Proceeds from sale of held-to-maturity securities
 
$
161,743

 
$
—

Amortized cost of held-to-maturity securities
 
121,010

 
—

Realized net gain from sale of held-to-maturity securities
 
$
40,733

 
$
—

_______________________
(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.