Federally chartered corporation | ||||||||
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
Large accelerated filer | ☐ | Accelerated filer | ☐ | |||||||||||
☑ | Smaller reporting company | |||||||||||||
Emerging growth company |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
None | N/A | N/A |
PART I. FINANCIAL INFORMATION | ||||||||
Item 1. | ||||||||
Item 2. | ||||||||
Item 3. | ||||||||
Item 4. | ||||||||
PART II. OTHER INFORMATION | ||||||||
Item 1. | ||||||||
Item 1A. | ||||||||
Item 2. | ||||||||
Item 3. | ||||||||
Item 4. | ||||||||
Item 5. | ||||||||
Item 6. | ||||||||
As of September 30, 2020 | As of December 31, 2019 | ||||||||||
Assets | |||||||||||
Cash and due from banks | $ | $ | |||||||||
Interest-bearing deposits (including deposits with other FHLBanks of $5 as of September 30, 2020 and December 31, 2019) | |||||||||||
Securities purchased under agreements to resell | |||||||||||
Federal funds sold | |||||||||||
Investment securities: | |||||||||||
Trading securities | |||||||||||
Available-for-sale securities (amortized cost of $0 and $643 as of September 30, 2020 and December 31, 2019, respectively) | |||||||||||
Held-to-maturity securities (fair value of $23,821 and $25,903 as of September 30, 2020 and December 31, 2019, respectively) | |||||||||||
Total investment securities | |||||||||||
Advances | |||||||||||
Mortgage loans held for portfolio, net of allowance for credit losses of $1 as of September 30, 2020 and December 31, 2019 | |||||||||||
Accrued interest receivable | |||||||||||
Derivative assets | |||||||||||
Other assets | |||||||||||
Total assets | $ | $ | |||||||||
Liabilities | |||||||||||
Interest-bearing deposits | $ | $ | |||||||||
Consolidated obligations, net: | |||||||||||
Discount notes | |||||||||||
Bonds | |||||||||||
Total consolidated obligations, net | |||||||||||
Mandatorily redeemable capital stock | |||||||||||
Accrued interest payable | |||||||||||
Affordable Housing Program payable | |||||||||||
Derivative liabilities | |||||||||||
Other liabilities | |||||||||||
Total liabilities | |||||||||||
Commitments and contingencies (Note 13) | |||||||||||
Capital | |||||||||||
Capital stock Class B putable ($100 par value) issued and outstanding shares: | |||||||||||
Subclass B1 issued and outstanding shares: 9 as of September 30, 2020 and December 31, 2019 | |||||||||||
Subclass B2 issued and outstanding shares: 24 and 41 as of September 30, 2020 and December 31, 2019, respectively | |||||||||||
Total capital stock Class B putable | |||||||||||
Retained earnings: | |||||||||||
Restricted | |||||||||||
Unrestricted | |||||||||||
Total retained earnings | |||||||||||
Accumulated other comprehensive (loss) income | ( | ||||||||||
Total capital | |||||||||||
Total liabilities and capital | $ | $ |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||
2020 | 2019 | 2020 | 2019 | ||||||||||||||||||||
Interest income | |||||||||||||||||||||||
Advances | $ | $ | $ | $ | |||||||||||||||||||
Interest-bearing deposits | |||||||||||||||||||||||
Securities purchased under agreements to resell | |||||||||||||||||||||||
Federal funds sold | |||||||||||||||||||||||
Trading securities | |||||||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||||||
Held-to-maturity securities | |||||||||||||||||||||||
Mortgage loans | |||||||||||||||||||||||
Total interest income | |||||||||||||||||||||||
Interest expense | |||||||||||||||||||||||
Consolidated obligations: | |||||||||||||||||||||||
Discount notes | |||||||||||||||||||||||
Bonds | |||||||||||||||||||||||
Interest-bearing deposits | |||||||||||||||||||||||
Total interest expense | |||||||||||||||||||||||
Net interest income | |||||||||||||||||||||||
Noninterest income (loss) | |||||||||||||||||||||||
Net impairment losses recognized in earnings | ( | ( | |||||||||||||||||||||
Net gains on trading securities | |||||||||||||||||||||||
Net realized gains from sale of available-for-sale securities | |||||||||||||||||||||||
Net realized gains from sale of held-to-maturity securities | |||||||||||||||||||||||
Net gains (losses) on derivatives and hedging activities | ( | ( | ( | ||||||||||||||||||||
Standby letters of credit fees | |||||||||||||||||||||||
Other | |||||||||||||||||||||||
Total noninterest income | |||||||||||||||||||||||
Noninterest expense | |||||||||||||||||||||||
Compensation and benefits | |||||||||||||||||||||||
Other operating expenses | |||||||||||||||||||||||
Federal Housing Finance Agency | |||||||||||||||||||||||
Office of Finance | |||||||||||||||||||||||
Other | |||||||||||||||||||||||
Total noninterest expense | |||||||||||||||||||||||
Income before assessment | |||||||||||||||||||||||
Affordable Housing Program assessment | |||||||||||||||||||||||
Net income | $ | $ | $ | $ |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||
2020 | 2019 | 2020 | 2019 | ||||||||||||||||||||
Net income | $ | $ | $ | $ | |||||||||||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||||
Reclassification of unrealized gains related to the sale of available-for-sale securities | ( | ||||||||||||||||||||||
Net noncredit portion of other-than-temporary impairment losses on available-for-sale securities | ( | ( | |||||||||||||||||||||
Pension and postretirement benefits | |||||||||||||||||||||||
Total other comprehensive income (loss) | ( | ( | ( | ||||||||||||||||||||
Total comprehensive income | $ | $ | $ | $ |
Capital Stock Class B Putable | Retained Earnings | Accumulated Other Comprehensive (Loss) Income | Total Capital | ||||||||||||||||||||||||||||||||||||||
Shares | Par Value | Restricted | Unrestricted | Total | |||||||||||||||||||||||||||||||||||||
Balance, June 30, 2019 | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||
Issuance of capital stock | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Repurchase/redemption of capital stock | ( | ( | — | — | — | — | ( | ||||||||||||||||||||||||||||||||||
Net shares reclassified to mandatorily redeemable capital stock | — | ( | — | — | — | — | (3) | ||||||||||||||||||||||||||||||||||
Comprehensive income (loss) | — | — | ( | ||||||||||||||||||||||||||||||||||||||
Cash dividends on capital stock | — | — | ( | ( | — | ( | |||||||||||||||||||||||||||||||||||
Balance, September 30, 2019 | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||
Balance, June 30, 2020 | $ | $ | $ | $ | $ | ( | $ | ||||||||||||||||||||||||||||||||||
Issuance of capital stock | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Repurchase/redemption of capital stock | ( | ( | — | — | — | — | ( | ||||||||||||||||||||||||||||||||||
Comprehensive income | — | — | |||||||||||||||||||||||||||||||||||||||
Cash dividends on capital stock | — | — | ( | ( | — | ( | |||||||||||||||||||||||||||||||||||
Balance, September 30, 2020 | $ | $ | $ | $ | $ | ( | $ | ||||||||||||||||||||||||||||||||||
Capital Stock Class B Putable | Retained Earnings | Accumulated Other Comprehensive (Loss) Income | Total Capital | ||||||||||||||||||||||||||||||||||||||
Shares | Par Value | Restricted | Unrestricted | Total | |||||||||||||||||||||||||||||||||||||
Balance, December 31, 2018 | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||
Issuance of capital stock | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Repurchase/redemption of capital stock | ( | ( | — | — | — | — | ( | ||||||||||||||||||||||||||||||||||
Net shares reclassified to mandatorily redeemable capital stock | ( | — | — | — | — | ( | |||||||||||||||||||||||||||||||||||
Comprehensive income (loss) | — | — | ( | ||||||||||||||||||||||||||||||||||||||
Cash dividends on capital stock | — | — | ( | ( | — | ( | |||||||||||||||||||||||||||||||||||
Balance, September 30, 2019 | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||
Balance, December 31, 2019 | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||
Issuance of capital stock | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Repurchase/redemption of capital stock | ( | ( | — | — | — | — | ( | ||||||||||||||||||||||||||||||||||
Net shares reclassified to mandatorily redeemable capital stock | ( | — | — | — | — | ( | |||||||||||||||||||||||||||||||||||
Comprehensive income (loss) | — | — | ( | ||||||||||||||||||||||||||||||||||||||
Partial recovery of prior capital distribution to Financing Corporation | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Cash dividends on capital stock | — | — | ( | ( | — | ( | |||||||||||||||||||||||||||||||||||
Balance, September 30, 2020 | $ | $ | $ | $ | $ | ( | $ |
For the Nine Months Ended September 30, | |||||||||||
2020 | 2019 | ||||||||||
Operating activities | |||||||||||
Net income | $ | $ | |||||||||
Adjustments to reconcile net income to net cash used in operating activities: | |||||||||||
Depreciation and amortization | ( | ( | |||||||||
Net change in derivative and hedging activities | ( | ( | |||||||||
Net change in fair value adjustment on trading securities | ( | ( | |||||||||
Net impairment losses recognized in earnings | |||||||||||
Net realized gains from sale of available-for-sale securities | ( | ||||||||||
Net realized gains from sale of held-to-maturity securities | ( | ||||||||||
Net change in: | |||||||||||
Accrued interest receivable | |||||||||||
Other assets | |||||||||||
Affordable Housing Program payable | ( | ( | |||||||||
Accrued interest payable | ( | ||||||||||
Other liabilities | ( | ( | |||||||||
Total adjustments | ( | ( | |||||||||
Net cash used in operating activities | ( | ( | |||||||||
Investing activities | |||||||||||
Net change in: | |||||||||||
Interest-bearing deposits | |||||||||||
Securities purchased under agreements to resell | ( | ( | |||||||||
Federal funds sold | ( | ||||||||||
Loans to other FHLBanks | |||||||||||
Trading securities: | |||||||||||
Purchases of long-term | ( | ||||||||||
Available-for-sale securities: | |||||||||||
Proceeds from sales | |||||||||||
Proceeds from principal collected | |||||||||||
Held-to-maturity securities: | |||||||||||
Proceeds from sales | |||||||||||
Proceeds from principal collected | |||||||||||
Purchases of long-term | ( | ( | |||||||||
Advances: | |||||||||||
Proceeds from principal collected | |||||||||||
Made | ( | ( | |||||||||
Mortgage loans: | |||||||||||
Proceeds from principal collected | |||||||||||
Proceeds from sale of foreclosed assets | |||||||||||
Purchases of premises, equipment, and software | ( | ( | |||||||||
Net cash provided by investing activities | |||||||||||
FEDERAL HOME LOAN BANK OF ATLANTA STATEMENTS OF CASH FLOWS—(Continued) (Unaudited) (In millions) | |||||||||||
For the Nine Months Ended September 30, | |||||||||||
2020 | 2019 | ||||||||||
Financing activities | |||||||||||
Net change in interest-bearing deposits | |||||||||||
Net payments on derivatives containing a financing element | ( | ||||||||||
Proceeds from issuance of consolidated obligations: | |||||||||||
Discount notes | |||||||||||
Bonds | |||||||||||
Payments for debt issuance costs | ( | ( | |||||||||
Payments for maturing and retiring consolidated obligations: | |||||||||||
Discount notes | ( | ( | |||||||||
Bonds | ( | ( | |||||||||
Proceeds from issuance of capital stock | |||||||||||
Payments for repurchase/redemption of capital stock | ( | ( | |||||||||
Payments for repurchase/redemption of mandatorily redeemable capital stock | ( | ( | |||||||||
Partial recovery of prior capital distribution to Financing Corporation | |||||||||||
Cash dividends paid | ( | ( | |||||||||
Net cash used in financing activities | ( | ( | |||||||||
Net increase in cash and due from banks | |||||||||||
Cash and due from banks at beginning of the period | |||||||||||
Cash and due from banks at end of the period | $ | $ | |||||||||
Supplemental disclosures of cash flow information: | |||||||||||
Cash paid for: | |||||||||||
Interest | $ | $ | |||||||||
Affordable Housing Program assessment, net | $ | $ | |||||||||
Noncash investing and financing activities: | |||||||||||
Net shares reclassified to mandatorily redeemable capital stock | $ | $ | |||||||||
Held-to-maturity securities acquired with accrued liabilities | $ | $ | |||||||||
Accounting Standard Update (ASU) | Description | Effective Date | Effect on Financial Statements or Other Significant Matters | |||||||||||||||||
Disclosure Framework–Changes to the Disclosure Requirements for Fair Value Measurement (ASU 2018-13) | This guidance amends the disclosure requirements on fair value measurements. | January 1, 2020 | The adoption of this guidance did not have an impact on the Bank’s financial condition or results of operations. | |||||||||||||||||
Measurement of Credit Losses on Financial Instruments (ASU 2016-13) | This guidance replaces the incurred loss impairment methodology in current generally accepted accounting principles in the United States of America (GAAP) with a methodology that reflects lifetime expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. | January 1, 2020 | The adoption of this guidance did not have an impact on the Bank’s financial condition or results of operations. | |||||||||||||||||
Facilitation of the Effects of Reference Rate Reform on Financial Reporting (ASU 2020-04) | This guidance provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. | March 12, 2020 through December 31, 2022 | The Bank expects it may apply certain of the expedients and exceptions provided in the guidance; however, the Bank is still evaluating this guidance and has yet to apply any of its provisions. Therefore, the impact of adopting this guidance on the Bank’s financial condition and results of operations has not yet been determined. |
Accounting Standard Update (ASU) | Description | Effective Date | Effect on Financial Statements or Other Significant Matters | |||||||||||||||||
Disclosure Framework–Changes to the Disclosure Requirements for Defined Benefit Plans (ASU 2018-14) | This guidance amends the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. | December 31, 2020 Early adoption is permitted | The Bank does not intend to adopt this guidance early. This guidance is not expected to have any impact on the Bank’s financial condition or results of operations. |
As of September 30, 2020 | As of December 31, 2019 | ||||||||||
U.S. Treasury obligations | $ | $ | |||||||||
Government-sponsored enterprises debt obligations | |||||||||||
Total | $ | $ |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||
2020 | 2019 | 2020 | 2019 | ||||||||||||||||||||
Net gains on trading securities held at period end | $ | $ | $ | $ | |||||||||||||||||||
Amortized Cost | Other-than-temporary Impairment Recognized in Accumulated Other Comprehensive Income (1) | Gross Unrealized Gains | Gross Unrealized Losses | Estimated Fair Value | |||||||||||||||||||||||||
As of September 30, 2020 | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
As of December 31, 2019 | $ | $ | ( | $ | $ | $ |
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||
Number of Positions | Estimated Fair Value | Gross Unrealized Losses | Number of Positions | Estimated Fair Value | Gross Unrealized Losses | Number of Positions | Estimated Fair Value | Gross Unrealized Losses | |||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2020 | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2019 | $ | $ | $ | $ | ( | $ | $ | ( |
Amortized Cost | Other-than-temporary Impairment Recognized in Accumulated Other Comprehensive Income (1) | Gross Unrealized Gains | Gross Unrealized Losses | Estimated Fair Value | |||||||||||||||||||||||||
As of September 30, 2020 | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
As of December 31, 2019 | $ | $ | $ | $ | $ |
As of September 30, 2020 | As of December 31, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||
Amortized Cost (1) | Gross Unrealized Gains | Gross Unrealized Losses | Estimated Fair Value | Amortized Cost (1) | Gross Unrealized Gains | Gross Unrealized Losses | Estimated Fair Value | ||||||||||||||||||||||||||||||||||||||||
State or local housing agency debt obligations | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Government-sponsored enterprises debt obligations | |||||||||||||||||||||||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||||||||||||
U.S. agency obligations-guaranteed residential | |||||||||||||||||||||||||||||||||||||||||||||||
Government-sponsored enterprises residential | ( | ( | |||||||||||||||||||||||||||||||||||||||||||||
Government-sponsored enterprises commercial | ( | ( | |||||||||||||||||||||||||||||||||||||||||||||
Private-label residential | ( | ||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | ( | $ | $ | $ | $ | ( | $ |
As of September 30, 2020 | As of December 31, 2019 | ||||||||||||||||||||||
Amortized Cost (1) | Estimated Fair Value | Amortized Cost (1) | Estimated Fair Value | ||||||||||||||||||||
Non-mortgage-backed securities: | |||||||||||||||||||||||
Due in one year or less | $ | $ | $ | $ | |||||||||||||||||||
Due after one year through five years | |||||||||||||||||||||||
Due after five years through 10 years | |||||||||||||||||||||||
Due after 10 years | |||||||||||||||||||||||
Total non-mortgage-backed securities | |||||||||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||||||
Total | $ | $ | $ | $ |
Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Estimated Fair Value | |||||||||||||||||||||||
As of September 30, 2020 | $ | $ | $ | $ | ||||||||||||||||||||||
As of December 31, 2019 | $ | $ | $ | $ |
As of September 30, 2020 | As of December 31, 2019 | ||||||||||
Due in one year or less | $ | $ | |||||||||
Due after one year through two years | |||||||||||
Due after two years through three years | |||||||||||
Due after three years through four years | |||||||||||
Due after four years through five years | |||||||||||
Due after five years | |||||||||||
Total par value | |||||||||||
Deferred prepayment fees | ( | ( | |||||||||
Discount on AHP (1) advances | ( | ( | |||||||||
Discount on EDGE (2) advances | ( | ( | |||||||||
Hedging adjustments | |||||||||||
Total (3) | $ | $ |
As of September 30, 2020 | As of December 31, 2019 | ||||||||||
Due or convertible in one year or less | $ | $ | |||||||||
Due or convertible after one year through two years | |||||||||||
Due or convertible after two years through three years | |||||||||||
Due or convertible after three years through four years | |||||||||||
Due or convertible after four years through five years | |||||||||||
Due or convertible after five years | |||||||||||
Total par value | $ | $ |
As of September 30, 2020 | As of December 31, 2019 | ||||||||||
Fixed-rate: | |||||||||||
Due in one year or less | $ | $ | |||||||||
Due after one year | |||||||||||
Total fixed-rate | |||||||||||
Variable-rate: | |||||||||||
Due in one year or less | |||||||||||
Due after one year | |||||||||||
Total variable-rate | |||||||||||
Total par value | $ | $ |
As of September 30, 2020 | As of December 31, 2019 | |||||||||||||
Medium-term (15 years or less) | $ | $ | ||||||||||||
Long-term (greater than 15 years) | ||||||||||||||
Total unpaid principal balance | ||||||||||||||
Premiums | ||||||||||||||
Discounts | ( | ( | ||||||||||||
Total mortgage loans held for portfolio (1) | ||||||||||||||
Allowance for credit losses on mortgage loans | ( | ( | ||||||||||||
Mortgage loans held for portfolio, net | $ | $ |
As of September 30, 2020 | As of December 31, 2019 | |||||||||||||
Conventional mortgage loans | $ | $ | ||||||||||||
Government-guaranteed or insured mortgage loans | ||||||||||||||
Total unpaid principal balance | $ | $ |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||
2020 | 2019 | 2020 | 2019 | ||||||||||||||||||||
Balance, beginning of period | $ | $ | $ | $ | |||||||||||||||||||
Provision for credit losses | |||||||||||||||||||||||
Balance, end of period | $ | $ | $ | $ |
As of September 30, 2020 | ||||||||||||||||||||
Origination Year | ||||||||||||||||||||
2016 | Prior to 2016 | Total | ||||||||||||||||||
Payment status, at amortized cost:(1) | ||||||||||||||||||||
Past due 30-59 days | $ | $ | $ | |||||||||||||||||
Past due 60-89 days | ||||||||||||||||||||
Past due 90 days or more | ||||||||||||||||||||
Total past due mortgage loans | ||||||||||||||||||||
Current mortgage loans | ||||||||||||||||||||
Total conventional mortgage loans | $ | $ | $ |
As of December 31, 2019 | |||||
Payment status, at recorded investment:(1) | |||||
Past due 30-59 days | $ | ||||
Past due 60-89 days | |||||
Past due 90 days or more | |||||
Total past due mortgage loans | |||||
Current mortgage loans | |||||
Total conventional mortgage loans | $ |
As of September 30, 2020 | |||||||||||||||||
Conventional Residential Mortgage Loans | Government-guaranteed or Insured Residential Mortgage Loans | Total | |||||||||||||||
Other delinquency statistics, at amortized cost: | |||||||||||||||||
In process of foreclosure (1) | $ | $ | $ | ||||||||||||||
Seriously delinquent rate (2) | % | % | % | ||||||||||||||
Past due 90 days or more and still accruing interest (3) | $ | $ | $ | ||||||||||||||
Mortgage loans on nonaccrual status (4) | $ | $ | $ |
As of December 31, 2019 | |||||||||||||||||
Conventional Residential Mortgage Loans | Government-guaranteed or Insured Residential Mortgage Loans | Total | |||||||||||||||
Other delinquency statistics, at recorded investment: | |||||||||||||||||
In process of foreclosure (1) | $ | $ | $ | ||||||||||||||
Seriously delinquent rate (2) | % | % | % | ||||||||||||||
Past due 90 days or more and still accruing interest (3) | $ | $ | $ | ||||||||||||||
Mortgage loans on nonaccrual status (4) | $ | $ | $ |
As of September 30, 2020 | As of December 31, 2019 | ||||||||||
Simple variable-rate | $ | $ | |||||||||
Fixed-rate | |||||||||||
Step up/down | |||||||||||
Total par value | $ | $ |
As of September 30, 2020 | As of December 31, 2019 | ||||||||||||||||||||||
Amount | Weighted- average Interest Rate (%) | Amount | Weighted- average Interest Rate (%) | ||||||||||||||||||||
Due in one year or less | $ | $ | |||||||||||||||||||||
Due after one year through two years | |||||||||||||||||||||||
Due after two years through three years | |||||||||||||||||||||||
Due after three years through four years | |||||||||||||||||||||||
Due after four years through five years | |||||||||||||||||||||||
Due after five years | |||||||||||||||||||||||
Total par value | |||||||||||||||||||||||
Premiums | |||||||||||||||||||||||
Discounts | ( | ( | |||||||||||||||||||||
Hedging adjustments | |||||||||||||||||||||||
Total | $ | $ |
As of September 30, 2020 | As of December 31, 2019 | ||||||||||
Noncallable | $ | $ | |||||||||
Callable | |||||||||||
Total par value | $ | $ |
As of September 30, 2020 | As of December 31, 2019 | ||||||||||
Due or callable in one year or less | $ | $ | |||||||||
Due or callable after one year through two years | |||||||||||
Due or callable after two years through three years | |||||||||||
Due or callable after three years through four years | |||||||||||
Due or callable after four years through five years | |||||||||||
Due or callable after five years | |||||||||||
Total par value | $ | $ |
Book Value | Par Value | Weighted-average Interest Rate (%) | |||||||||||||||
As of September 30, 2020 | $ | $ | |||||||||||||||
As of December 31, 2019 | $ | $ |
As of September 30, 2020 | As of December 31, 2019 | ||||||||||||||||||||||
Required | Actual | Required | Actual | ||||||||||||||||||||
Risk-based capital | $ | $ | $ | $ | |||||||||||||||||||
Total regulatory capital ratio | % | % | % | % | |||||||||||||||||||
Total regulatory capital (1) | $ | $ | $ | $ | |||||||||||||||||||
Leverage capital ratio | % | % | % | % | |||||||||||||||||||
Leverage capital | $ | $ | $ | $ |
2020 | 2019 | |||||||||||||||||||||||||
Amount | Annualized Rate (%) | Amount | Annualized Rate (%) | |||||||||||||||||||||||
First quarter | $ | $ | ||||||||||||||||||||||||
Second quarter | ||||||||||||||||||||||||||
Third quarter | ||||||||||||||||||||||||||
Total | $ | $ |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||
2020 | 2019 | 2020 | 2019 | ||||||||||||||||||||
Balance, beginning of period | $ | $ | $ | $ | |||||||||||||||||||
Net reclassification from capital during the period | |||||||||||||||||||||||
Repurchase/redemption of mandatorily redeemable capital stock | ( | ( | ( | ||||||||||||||||||||
Balance, end of period | $ | $ | $ | $ |
As of September 30, 2020 | As of December 31, 2019 | ||||||||||
Due after two years through three years | $ | $ | |||||||||
Due after three years through four years | |||||||||||
Total | $ | $ |
Net Unrealized Gains (Losses) on Available-for-sale Securities | Noncredit Portion of Other-than- temporary Impairment Losses on Available-for- sale Securities | Pension and Postretirement Benefits | Total Accumulated Other Comprehensive (Loss) Income | ||||||||||||||||||||
Balance, June 30, 2019 | $ | $ | $ | ( | $ | ||||||||||||||||||
Other comprehensive income before reclassifications: | |||||||||||||||||||||||
Net change in fair value | ( | ( | |||||||||||||||||||||
Reclassification from accumulated other comprehensive income to net income: | |||||||||||||||||||||||
Noncredit other-than-temporary impairment losses | |||||||||||||||||||||||
Amortization of pension and postretirement (1) | |||||||||||||||||||||||
Net current period other comprehensive (loss) income | ( | ( | |||||||||||||||||||||
Balance, September 30, 2019 | $ | $ | $ | ( | $ | ||||||||||||||||||
Balance, June 30, 2020 | $ | $ | $ | ( | $ | ( | |||||||||||||||||
Reclassification from accumulated other comprehensive income to net income: | |||||||||||||||||||||||
Amortization of pension and postretirement (1) | |||||||||||||||||||||||
Net current period other comprehensive income | |||||||||||||||||||||||
Balance, September 30, 2020 | $ | $ | $ | ( | $ | ( | |||||||||||||||||
Net Unrealized Gains (Losses) on Available-for-sale Securities | Net Noncredit Portion of Other-than-temporary Impairment Losses on Available-for-sale Securities | Pension and Postretirement Benefits | Total Accumulated Other Comprehensive (Loss) Income | ||||||||||||||||||||
Balance, December 31, 2018 | $ | $ | $ | ( | $ | ||||||||||||||||||
Other comprehensive income before reclassifications: | |||||||||||||||||||||||
Net change in fair value | ( | ( | |||||||||||||||||||||
Reclassification from accumulated other comprehensive income to net income: | |||||||||||||||||||||||
Noncredit other-than-temporary impairment losses | |||||||||||||||||||||||
Amortization of pension and postretirement (1) | |||||||||||||||||||||||
Net current period other comprehensive (loss) income | ( | ( | |||||||||||||||||||||
Balance, September 30, 2019 | $ | $ | $ | ( | $ | ||||||||||||||||||
Balance, December 31, 2019 | $ | $ | $ | ( | $ | ||||||||||||||||||
Other comprehensive income before reclassifications: | |||||||||||||||||||||||
Adoption of ASU 2016-13 as amended | ( | ||||||||||||||||||||||
Net unrealized gains on available-for-sale securities | |||||||||||||||||||||||
Reclassification from accumulated other comprehensive income to net income: | |||||||||||||||||||||||
Net realized gains from sale of available-for-sale securities | ( | ( | |||||||||||||||||||||
Amortization of pension and postretirement (1) | |||||||||||||||||||||||
Net current period other comprehensive (loss) income | ( | ( | |||||||||||||||||||||
Balance, September 30, 2020 | $ | $ | $ | ( | $ | ( |
As of September 30, 2020 | As of December 31, 2019 | ||||||||||||||||||||||||||||||||||
Notional Amount of Derivatives | Derivative Assets | Derivative Liabilities | Notional Amount of Derivatives | Derivative Assets | Derivative Liabilities | ||||||||||||||||||||||||||||||
Derivatives in hedging relationships: | |||||||||||||||||||||||||||||||||||
Interest-rate swaps (1) | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||||||||||
Interest-rate swaps (1) | |||||||||||||||||||||||||||||||||||
Interest-rate caps or floors | |||||||||||||||||||||||||||||||||||
Total derivatives not designated as hedging instruments | |||||||||||||||||||||||||||||||||||
Total derivatives before netting and collateral adjustments | $ | $ | |||||||||||||||||||||||||||||||||
Netting adjustments and cash collateral (2) | ( | ( | |||||||||||||||||||||||||||||||||
Derivative assets and derivative liabilities | $ | $ | $ | $ |
For the Three Months Ended September 30, 2020 | For the Nine Months Ended September 30, 2020 | |||||||||||||||||||||||||||||||||||||
Interest Income (Expense) | Interest Income (Expense) | |||||||||||||||||||||||||||||||||||||
Advances | Consolidated Obligation Bonds | Consolidated Obligation Discount Notes | Advances | Consolidated Obligation Bonds | Consolidated Obligation Discount Notes | |||||||||||||||||||||||||||||||||
Total interest income (expense) recorded in the Statements of Income | $ | $ | ( | $ | ( | $ | $ | ( | $ | ( | ||||||||||||||||||||||||||||
Changes in fair value: | ||||||||||||||||||||||||||||||||||||||
Hedged items | $ | ( | $ | $ | $ | $ | ( | $ | ||||||||||||||||||||||||||||||
Derivatives | ( | ( | ( | |||||||||||||||||||||||||||||||||||
Net changes in fair value | ( | |||||||||||||||||||||||||||||||||||||
Net interest settlements on derivatives (1) (2) | ( | ( | ||||||||||||||||||||||||||||||||||||
Amortization/accretion of active hedging relationships | ( | ( | ( | |||||||||||||||||||||||||||||||||||
Other | ( | ( | ||||||||||||||||||||||||||||||||||||
Total net interest (expense) income effect from fair value hedging relationships | $ | ( | $ | $ | ( | $ | ( | $ | $ |
For the Three Months Ended September 30, 2019 | For the Nine Months Ended September 30, 2019 | |||||||||||||||||||||||||||||||||||||
Interest Income (Expense) | Interest Income (Expense) | |||||||||||||||||||||||||||||||||||||
Advances | Consolidated Obligation Bonds | Consolidated Obligation Discount Notes | Advances | Consolidated Obligation Bonds | Consolidated Obligation Discount Notes | |||||||||||||||||||||||||||||||||
Total interest income (expense) recorded in the Statements of Income | $ | $ | ( | $ | ( | $ | $ | ( | $ | ( | ||||||||||||||||||||||||||||
Changes in fair value: | ||||||||||||||||||||||||||||||||||||||
Hedged items | $ | $ | ( | $ | ( | $ | $ | ( | $ | ( | ||||||||||||||||||||||||||||
Derivatives | ( | ( | ||||||||||||||||||||||||||||||||||||
Net changes in fair value | ( | ( | ( | |||||||||||||||||||||||||||||||||||
Net interest settlements on derivatives (1) (2) | ( | ( | ||||||||||||||||||||||||||||||||||||
Amortization/accretion of active hedging relationships | ( | ( | ||||||||||||||||||||||||||||||||||||
Other | ( | ( | ( | ( | ||||||||||||||||||||||||||||||||||
Total net interest (expense) income effect from fair value hedging relationships | $ | ( | $ | ( | $ | $ | $ | ( | $ |
As of September 30, 2020 | As of December 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||
Line Item in Statement of Conditions of Hedged Item | Amortized Cost of Hedged Asset or Liability (1) | Basis Adjustments for Active Hedging Relationships Included in Amortized Cost | Basis Adjustments for Discontinued Hedging Relationships included in Amortized Cost | Cumulative Amount of Fair Value Hedging Basis Adjustments | Amortized Cost of Hedged Asset or Liability (1) | Basis Adjustments for Active Hedging Relationships Included in Amortized Cost | Basis Adjustments for Discontinued Hedging Relationships included in Amortized Cost | Cumulative Amount of Fair Value Hedging Basis Adjustments | ||||||||||||||||||||||||||||||||||||||||||
Advances | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Consolidated obligations: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Bonds | ||||||||||||||||||||||||||||||||||||||||||||||||||
Discount notes |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||||||||||||
2020 | 2019 | 2020 | 2019 | |||||||||||||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||||||||||||
Interest-rate swaps | $ | $ | ( | $ | ( | $ | ( | |||||||||||||||||||
Net interest settlements | ( | |||||||||||||||||||||||||
Net gains (losses) on derivatives and hedging activities | $ | $ | ( | $ | ( | $ | ( | |||||||||||||||||||
As of September 30, 2020 | As of December 31, 2019 | ||||||||||||||||||||||
Derivative Assets | Derivative Liabilities | Derivative Assets | Derivative Liabilities | ||||||||||||||||||||
Gross recognized amount: | |||||||||||||||||||||||
Uncleared derivatives | $ | $ | $ | $ | |||||||||||||||||||
Cleared derivatives | |||||||||||||||||||||||
Total gross recognized amount | |||||||||||||||||||||||
Gross amounts of netting adjustments and cash collateral: | |||||||||||||||||||||||
Uncleared derivatives | ( | ( | ( | ||||||||||||||||||||
Cleared derivatives | ( | ( | |||||||||||||||||||||
Total gross amounts of netting adjustments and cash collateral | ( | ( | |||||||||||||||||||||
Net amounts after netting adjustments and cash collateral: | |||||||||||||||||||||||
Uncleared derivatives | |||||||||||||||||||||||
Cleared derivatives | |||||||||||||||||||||||
Total net amounts after netting adjustments and cash collateral | |||||||||||||||||||||||
Non-cash collateral received or pledged not offset-cannot be sold or repledged: (1) | |||||||||||||||||||||||
Uncleared derivatives | |||||||||||||||||||||||
Cleared derivatives | |||||||||||||||||||||||
Total cannot be sold or repledged (1) | |||||||||||||||||||||||
Net unsecured amounts: (1) | |||||||||||||||||||||||
Uncleared derivatives | |||||||||||||||||||||||
Cleared derivatives | |||||||||||||||||||||||
Total net unsecured amount (1) | $ | $ | $ | $ |
As of September 30, 2020 | |||||||||||||||||||||||||||||
Fair Value Measurements Using | Netting Adjustments and Cash Collateral (1) | ||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||
Trading securities: | |||||||||||||||||||||||||||||
U.S. Treasury obligations | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Government-sponsored enterprises debt obligations | |||||||||||||||||||||||||||||
Total trading securities | |||||||||||||||||||||||||||||
Derivative assets: | |||||||||||||||||||||||||||||
Interest-rate related | |||||||||||||||||||||||||||||
Grantor trust (included in Other assets) | |||||||||||||||||||||||||||||
Total assets at fair value | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||
Derivative liabilities: | |||||||||||||||||||||||||||||
Interest-rate related | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||
Total liabilities at fair value | $ | $ | $ | $ | ( | $ |
As of December 31, 2019 | |||||||||||||||||||||||||||||
Fair Value Measurements Using | Netting Adjustments and Cash Collateral (1) | ||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||
Trading securities: | |||||||||||||||||||||||||||||
U.S. Treasury obligations | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Government-sponsored enterprises debt obligations | |||||||||||||||||||||||||||||
Total trading securities | |||||||||||||||||||||||||||||
Available-for-sale securities: | |||||||||||||||||||||||||||||
Private-label residential MBS | |||||||||||||||||||||||||||||
Derivative assets: | |||||||||||||||||||||||||||||
Interest-rate related | |||||||||||||||||||||||||||||
Grantor trust (included in Other assets) | |||||||||||||||||||||||||||||
Total assets at fair value | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||
Derivative liabilities: | |||||||||||||||||||||||||||||
Interest-rate related | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||
Total liabilities at fair value | $ | $ | $ | $ | ( | $ |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||
2020 | 2019 | 2020 | 2019 | ||||||||||||||||||||
Balance, beginning of period | $ | $ | $ | $ | |||||||||||||||||||
Total (losses) gains realized and unrealized: (1) | |||||||||||||||||||||||
Net realized gains from sale of available-for-sale securities | |||||||||||||||||||||||
Net impairment losses recognized in earnings | ( | ( | |||||||||||||||||||||
Included in other comprehensive loss | ( | ( | ( | ||||||||||||||||||||
Accretion of credit losses in net interest income | |||||||||||||||||||||||
Sales | ( | ||||||||||||||||||||||
Settlements | ( | ( | |||||||||||||||||||||
Balance, end of period | $ | $ | $ | $ |
As of September 30, 2020 | |||||||||||||||||||||||||||||||||||
Estimated Fair Value | |||||||||||||||||||||||||||||||||||
Carrying Value | Total | Level 1 | Level 2 | Level 3 | Netting Adjustments and Cash Collateral (1) | ||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||
Cash and due from banks | $ | $ | $ | $ | $ | $ | — | ||||||||||||||||||||||||||||
Interest-bearing deposits | — | ||||||||||||||||||||||||||||||||||
Securities purchased under agreements to resell | 13,000 | 13,000 | — | 13,000 | — | — | |||||||||||||||||||||||||||||
Federal funds sold | — | ||||||||||||||||||||||||||||||||||
Trading securities | |||||||||||||||||||||||||||||||||||
Held-to-maturity securities | |||||||||||||||||||||||||||||||||||
Advances | — | ||||||||||||||||||||||||||||||||||
Mortgage loans held for portfolio, net | — | ||||||||||||||||||||||||||||||||||
Accrued interest receivable | — | ||||||||||||||||||||||||||||||||||
Derivative assets | |||||||||||||||||||||||||||||||||||
Grantor trust assets (included in Other assets) | — | ||||||||||||||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||||||||
Interest-bearing deposits | — | ||||||||||||||||||||||||||||||||||
Consolidated obligations, net: | |||||||||||||||||||||||||||||||||||
Discount notes | — | ||||||||||||||||||||||||||||||||||
Bonds | — | ||||||||||||||||||||||||||||||||||
Mandatorily redeemable capital stock | |||||||||||||||||||||||||||||||||||
Accrued interest payable | — | ||||||||||||||||||||||||||||||||||
Derivative liabilities | ( |
As of December 31, 2019 | |||||||||||||||||||||||||||||||||||
Estimated Fair Value | |||||||||||||||||||||||||||||||||||
Carrying Value | Total | Level 1 | Level 2 | Level 3 | Netting Adjustments and Cash Collateral (1) | ||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||
Cash and due from banks | $ | $ | $ | $ | $ | $ | — | ||||||||||||||||||||||||||||
Interest-bearing deposits | — | ||||||||||||||||||||||||||||||||||
Securities purchased under agreements to resell | |||||||||||||||||||||||||||||||||||
Federal funds sold | — | ||||||||||||||||||||||||||||||||||
Trading securities | |||||||||||||||||||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||||||||||||||||||
Held-to-maturity securities | |||||||||||||||||||||||||||||||||||
Advances | — | ||||||||||||||||||||||||||||||||||
Mortgage loans held for portfolio, net | — | ||||||||||||||||||||||||||||||||||
Accrued interest receivable | — | ||||||||||||||||||||||||||||||||||
Derivative assets | |||||||||||||||||||||||||||||||||||
Grantor trust assets (included in Other assets) | — | ||||||||||||||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||||||||
Interest-bearing deposits | — | ||||||||||||||||||||||||||||||||||
Consolidated obligations, net: | |||||||||||||||||||||||||||||||||||
Discount notes | — | ||||||||||||||||||||||||||||||||||
Bonds | — | ||||||||||||||||||||||||||||||||||
Mandatorily redeemable capital stock | |||||||||||||||||||||||||||||||||||
Accrued interest payable | — | ||||||||||||||||||||||||||||||||||
Derivative liabilities | ( |
As of September 30, 2020 | As of December 31, 2019 | |||||||||||||||||||||||||||||||||||||
Expire Within One Year | Expire After One Year | Total | Expire Within One Year | Expire After One Year | Total | |||||||||||||||||||||||||||||||||
Standby letters of credit (1) | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||
Commitments to fund additional advances | ||||||||||||||||||||||||||||||||||||||
Unsettled consolidated obligation discount notes, at par (2) |
As of December 31, 2019 | |||||||||||||||||||||||||||||||||||
Regulatory Capital Stock Outstanding | Percent of Total Regulatory Capital Stock Outstanding | Par Value of Advances | Percent of Total Par Value of Advances | Interest-bearing Deposits | Percent of Total Interest-bearing Deposits | ||||||||||||||||||||||||||||||
Truist Bank | $ | $ | $ | ||||||||||||||||||||||||||||||||
As of and for the Three Months Ended | |||||||||||||||||||||||||||||
September 30, 2020 | June 30, 2020 | March 31, 2020 | December 31, 2019 | September 30, 2019 | |||||||||||||||||||||||||
Statements of Condition (at period end) | |||||||||||||||||||||||||||||
Total assets | $ | 112,165 | $ | 126,596 | $ | 189,392 | $ | 149,857 | $ | 150,880 | |||||||||||||||||||
Advances | 58,802 | 67,221 | 137,037 | 97,167 | 102,466 | ||||||||||||||||||||||||
Investments (1) | 48,255 | 54,167 | 46,429 | 50,617 | 47,130 | ||||||||||||||||||||||||
Mortgage loans held for portfolio | 243 | 264 | 282 | 297 | 314 | ||||||||||||||||||||||||
Allowance for credit losses on mortgage loans | (1) | (1) | (1) | (1) | (1) | ||||||||||||||||||||||||
Interest-bearing deposits | 1,967 | 2,192 | 1,766 | 1,492 | 1,541 | ||||||||||||||||||||||||
Consolidated obligations, net: | |||||||||||||||||||||||||||||
Discount notes (2) | 35,519 | 58,295 | 96,490 | 52,134 | 55,049 | ||||||||||||||||||||||||
Bonds (2) | 68,858 | 59,925 | 81,856 | 88,503 | 86,423 | ||||||||||||||||||||||||
Total consolidated obligations, net (2) | 104,377 | 118,220 | 178,346 | 140,637 | 141,472 | ||||||||||||||||||||||||
Mandatorily redeemable capital stock | 1 | 1 | 1 | 1 | 1 | ||||||||||||||||||||||||
Affordable Housing Program payable | 86 | 92 | 95 | 89 | 84 | ||||||||||||||||||||||||
Capital stock - putable | 3,341 | 3,680 | 6,652 | 4,988 | 5,213 | ||||||||||||||||||||||||
Retained earnings | 2,198 | 2,200 | 2,185 | 2,153 | 2,132 | ||||||||||||||||||||||||
Accumulated other comprehensive (loss) income | (17) | (18) | (19) | 22 | 29 | ||||||||||||||||||||||||
Total capital | 5,522 | 5,862 | 8,818 | 7,163 | 7,374 | ||||||||||||||||||||||||
Statements of Income (for the period ended) | |||||||||||||||||||||||||||||
Net interest income | 89 | 90 | 85 | 141 | 118 | ||||||||||||||||||||||||
Net impairment losses recognized in earnings | — | — | — | (6) | (4) | ||||||||||||||||||||||||
Net gains on trading securities | — | — | 5 | — | 1 | ||||||||||||||||||||||||
Net realized gains from sale of investment securities | — | — | 85 | — | — | ||||||||||||||||||||||||
Net gains (losses) on derivatives and hedging activities | 1 | (1) | (6) | 1 | (1) | ||||||||||||||||||||||||
Standby letters of credit fees | 4 | 5 | 7 | 6 | 5 | ||||||||||||||||||||||||
Other income | 4 | 2 | 2 | 2 | 4 | ||||||||||||||||||||||||
Noninterest expense | 35 | 34 | 58 | 36 | 39 | ||||||||||||||||||||||||
Income before assessment | 63 | 62 | 120 | 108 | 84 | ||||||||||||||||||||||||
Affordable Housing Program assessment | 7 | 6 | 12 | 11 | 8 | ||||||||||||||||||||||||
Net income | 56 | 56 | 108 | 97 | 76 | ||||||||||||||||||||||||
Performance Ratios (%) | |||||||||||||||||||||||||||||
Return on equity (3) | 3.95 | 3.01 | 5.97 | 5.26 | 4.24 | ||||||||||||||||||||||||
Return on assets (4) | 0.20 | 0.14 | 0.28 | 0.25 | 0.21 | ||||||||||||||||||||||||
Net interest margin (5) | 0.33 | 0.22 | 0.23 | 0.37 | 0.32 | ||||||||||||||||||||||||
Regulatory capital ratio (at period end) (6) | 4.94 | 4.65 | 4.67 | 4.77 | 4.87 | ||||||||||||||||||||||||
Equity to assets ratio (7) | 5.17 | 4.53 | 4.76 | 4.72 | 4.84 | ||||||||||||||||||||||||
Dividend payout ratio (8) | 101.75 | 125.35 | 70.70 | 78.30 | 107.18 |
September 30, 2020 | $ | 715,531 | |||
June 30, 2020 | 797,560 | ||||
March 31, 2020 | 996,251 | ||||
December 31, 2019 | 885,114 | ||||
September 30, 2019 | 868,664 |
As of September 30, 2020 | As of December 31, 2019 | Increase (Decrease) | |||||||||||||||||||||||||||||||||
Amount | Percent of Total | Amount | Percent of Total | Amount | Percent | ||||||||||||||||||||||||||||||
Advances | $ | 58,802 | 52.42 | $ | 97,167 | 64.84 | $ | (38,365) | (39.48) | ||||||||||||||||||||||||||
Investment securities | 25,292 | 22.55 | 28,181 | 18.81 | (2,889) | (10.25) | |||||||||||||||||||||||||||||
Other investments | 22,963 | 20.47 | 22,436 | 14.97 | 527 | 2.35 | |||||||||||||||||||||||||||||
Mortgage loans, net | 242 | 0.22 | 296 | 0.20 | (54) | (18.34) | |||||||||||||||||||||||||||||
Other assets | 4,866 | 4.34 | 1,777 | 1.18 | 3,089 | 173.91 | |||||||||||||||||||||||||||||
Total assets | $ | 112,165 | 100.00 | $ | 149,857 | 100.00 | $ | (37,692) | (25.15) | ||||||||||||||||||||||||||
Consolidated obligations, net: | |||||||||||||||||||||||||||||||||||
Discount notes | $ | 35,519 | 33.31 | $ | 52,134 | 36.53 | $ | (16,615) | (31.87) | ||||||||||||||||||||||||||
Bonds | 68,858 | 64.57 | 88,503 | 62.02 | (19,645) | (22.20) | |||||||||||||||||||||||||||||
Deposits | 1,967 | 1.84 | 1,492 | 1.05 | 475 | 31.77 | |||||||||||||||||||||||||||||
Other liabilities | 299 | 0.28 | 565 | 0.40 | (266) | (47.00) | |||||||||||||||||||||||||||||
Total liabilities | $ | 106,643 | 100.00 | $ | 142,694 | 100.00 | $ | (36,051) | (25.26) | ||||||||||||||||||||||||||
Capital stock | $ | 3,341 | 60.49 | $ | 4,988 | 69.63 | $ | (1,647) | (33.02) | ||||||||||||||||||||||||||
Retained earnings | 2,198 | 39.82 | 2,153 | 30.06 | 45 | 2.10 | |||||||||||||||||||||||||||||
Accumulated other comprehensive (loss) income | (17) | (0.31) | 22 | 0.31 | (39) | (177.58) | |||||||||||||||||||||||||||||
Total capital | $ | 5,522 | 100.00 | $ | 7,163 | 100.00 | $ | (1,641) | (22.91) |
As of September 30, 2020 | As of December 31, 2019 | ||||||||||||||||||||||
Amount | Percent of Total | Amount | Percent of Total | ||||||||||||||||||||
Fixed rate (1) | $ | 36,839 | 64.68 | $ | 57,711 | 59.83 | |||||||||||||||||
Adjustable or variable-rate indexed | 13,193 | 23.16 | 33,412 | 34.64 | |||||||||||||||||||
Convertible | 5,998 | 10.53 | 4,261 | 4.42 | |||||||||||||||||||
Principal reducing credit | 931 | 1.63 | 1,072 | 1.11 | |||||||||||||||||||
Total par value | $ | 56,961 | 100.00 | $ | 96,456 | 100.00 |
Increase (Decrease) | |||||||||||||||||||||||
As of September 30, 2020 | As of December 31, 2019 | Amount | Percent | ||||||||||||||||||||
Investment securities: | |||||||||||||||||||||||
Government-sponsored enterprises debt obligations | $ | 3,967 | $ | 4,556 | $ | (589) | (12.91) | ||||||||||||||||
U.S. Treasury obligations | 1,501 | 1,499 | 2 | 0.10 | |||||||||||||||||||
State or local housing agency debt obligations | 1 | 1 | — | — | |||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||
U.S. agency obligations-guaranteed residential | 312 | 89 | 223 | 251.23 | |||||||||||||||||||
Government-sponsored enterprises residential | 7,986 | 8,642 | (656) | (7.60) | |||||||||||||||||||
Government-sponsored enterprises commercial | 11,525 | 12,518 | (993) | (7.93) | |||||||||||||||||||
Private-label residential | — | 876 | (876) | (100.00) | |||||||||||||||||||
Total mortgage-backed securities | 19,823 | 22,125 | (2,302) | (10.40) | |||||||||||||||||||
Total investment securities | 25,292 | 28,181 | (2,889) | (10.25) | |||||||||||||||||||
Other investments: | |||||||||||||||||||||||
Interest-bearing deposits (1) | 1,398 | 3,810 | (2,412) | (63.30) | |||||||||||||||||||
Securities purchased under agreements to resell | 13,000 | 8,800 | 4,200 | 47.73 | |||||||||||||||||||
Federal funds sold (2) | 8,565 | 9,826 | (1,261) | (12.83) | |||||||||||||||||||
Total other investments | 22,963 | 22,436 | 527 | 2.35 | |||||||||||||||||||
Total investments | $ | 48,255 | $ | 50,617 | $ | (2,362) | (4.67) |
As of September 30, 2020 | As of December 31, 2019 | ||||||||||
Percent of Total | Percent of Total | ||||||||||
Florida | 22.89 | 22.36 | |||||||||
South Carolina | 20.64 | 20.47 | |||||||||
Virginia | 11.02 | 11.61 | |||||||||
Georgia | 10.22 | 9.96 | |||||||||
North Carolina | 7.96 | 8.13 | |||||||||
All other | 27.27 | 27.47 | |||||||||
Total | 100.00 | 100.00 |
For the Three Months Ended September 30, | Increase (Decrease) | For the Nine Months Ended September 30, | Increase (Decrease) | |||||||||||||||||||||||||||||||||||||||||||||||
2020 | 2019 | Amount | Percent | 2020 | 2019 | Amount | Percent | |||||||||||||||||||||||||||||||||||||||||||
Net interest income | $ | 89 | $ | 118 | $ | (29) | (24.55) | $ | 264 | $ | 394 | $ | (130) | (32.81) | ||||||||||||||||||||||||||||||||||||
Noninterest income | 9 | 5 | 4 | 60.03 | 108 | 16 | 92 | * | ||||||||||||||||||||||||||||||||||||||||||
Noninterest expense | 35 | 39 | (4) | (9.12) | 127 | 110 | 17 | 15.74 | ||||||||||||||||||||||||||||||||||||||||||
Affordable Housing Program assessment | 7 | 8 | (1) | (25.86) | 25 | 30 | (5) | (18.45) | ||||||||||||||||||||||||||||||||||||||||||
Net income | $ | 56 | $ | 76 | $ | (20) | (25.84) | $ | 220 | $ | 270 | $ | (50) | (18.46) |
For the Three Months Ended September 30, | |||||||||||||||||||||||||||||||||||
2020 | 2019 | ||||||||||||||||||||||||||||||||||
Average Balance | Interest | Yield/ Rate (%) | Average Balance | Interest | Yield/ Rate (%) | ||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||||
Interest-bearing deposits (1) | $ | 2,780 | $ | 1 | 0.15 | $ | 3,910 | $ | 23 | 2.29 | |||||||||||||||||||||||||
Securities purchased under agreements to resell | 8,821 | 2 | 0.09 | 6,047 | 34 | 2.25 | |||||||||||||||||||||||||||||
Federal funds sold | 9,231 | 2 | 0.09 | 11,257 | 63 | 2.23 | |||||||||||||||||||||||||||||
Investment securities (2) | 24,742 | 45 | 0.73 | 27,805 | 204 | 2.92 | |||||||||||||||||||||||||||||
Advances | 62,822 | 135 | 0.85 | 96,156 | 584 | 2.41 | |||||||||||||||||||||||||||||
Mortgage loans (3) | 253 | 3 | 4.73 | 321 | 5 | 5.75 | |||||||||||||||||||||||||||||
Loans to other FHLBanks | — | — | — | 36 | — | 2.21 | |||||||||||||||||||||||||||||
Total interest-earning assets | 108,649 | 188 | 0.69 | 145,532 | 913 | 2.49 | |||||||||||||||||||||||||||||
Allowance for credit losses on mortgage loans | (1) | (1) | |||||||||||||||||||||||||||||||||
Other assets | 1,130 | 1,275 | |||||||||||||||||||||||||||||||||
Total assets | $ | 109,778 | $ | 146,806 | |||||||||||||||||||||||||||||||
Liabilities and Capital | |||||||||||||||||||||||||||||||||||
Interest-bearing deposits (4) | $ | 2,179 | — | 0.01 | $ | 1,446 | 8 | 2.09 | |||||||||||||||||||||||||||
Consolidated obligations, net: | |||||||||||||||||||||||||||||||||||
Discount notes | 38,639 | 40 | 0.41 | 62,907 | 363 | 2.29 | |||||||||||||||||||||||||||||
Bonds | 62,313 | 59 | 0.38 | 74,611 | 424 | 2.26 | |||||||||||||||||||||||||||||
Other borrowings | 1 | — | 0.39 | 3 | — | 4.70 | |||||||||||||||||||||||||||||
Total interest-bearing liabilities | 103,132 | 99 | 0.38 | 138,967 | 795 | 2.27 | |||||||||||||||||||||||||||||
Other liabilities | 974 | 737 | |||||||||||||||||||||||||||||||||
Total capital | 5,672 | 7,102 | |||||||||||||||||||||||||||||||||
Total liabilities and capital | $ | 109,778 | $ | 146,806 | |||||||||||||||||||||||||||||||
Net interest income and net yield on interest-earning assets | $ | 89 | 0.33 | $ | 118 | 0.32 | |||||||||||||||||||||||||||||
Interest-rate spread | 0.31 | 0.22 | |||||||||||||||||||||||||||||||||
Average interest-earning assets to interest-bearing liabilities | 105.35 | 104.72 |
For the Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||
2020 | 2019 | ||||||||||||||||||||||||||||||||||
Average Balance | Interest | Yield/ Rate (%) | Average Balance | Interest | Yield/ Rate (%) | ||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||||
Interest-bearing deposits (1) | $ | 3,571 | $ | 17 | 0.63 | $ | 4,148 | $ | 76 | 2.44 | |||||||||||||||||||||||||
Securities purchased under agreements to resell | 8,010 | 30 | 0.50 | 4,970 | 88 | 2.36 | |||||||||||||||||||||||||||||
Federal funds sold | 14,089 | 46 | 0.44 | 12,200 | 218 | 2.39 | |||||||||||||||||||||||||||||
Investment securities (2) | 25,228 | 254 | 1.34 | 26,190 | 605 | 3.09 | |||||||||||||||||||||||||||||
Advances | 89,441 | 786 | 1.17 | 97,897 | 1,899 | 2.59 | |||||||||||||||||||||||||||||
Mortgage loans (3) | 271 | 10 | 4.93 | 337 | 14 | 5.58 | |||||||||||||||||||||||||||||
Loans to other FHLBanks | — | — | — | 17 | — | 2.54 | |||||||||||||||||||||||||||||
Total interest-earning assets | 140,610 | 1,143 | 1.09 | 145,759 | 2,900 | 2.66 | |||||||||||||||||||||||||||||
Allowance for credit losses on mortgage loans | (1) | (1) | |||||||||||||||||||||||||||||||||
Other assets | 1,813 | 1,148 | |||||||||||||||||||||||||||||||||
Total assets | $ | 142,422 | $ | 146,906 | |||||||||||||||||||||||||||||||
Liabilities and Capital | |||||||||||||||||||||||||||||||||||
Interest-bearing deposits (4) | $ | 1,951 | 5 | 0.32 | $ | 1,243 | 21 | 2.23 | |||||||||||||||||||||||||||
Consolidated obligations, net: | |||||||||||||||||||||||||||||||||||
Discount notes | 60,145 | 344 | 0.76 | 63,794 | 1,145 | 2.40 | |||||||||||||||||||||||||||||
Bonds | 72,511 | 530 | 0.98 | 73,930 | 1,340 | 2.42 | |||||||||||||||||||||||||||||
Other borrowings | 2 | — | 4.52 | 9 | — | 3.16 | |||||||||||||||||||||||||||||
Total interest-bearing liabilities | 134,609 | 879 | 0.87 | 138,976 | 2,506 | 2.41 | |||||||||||||||||||||||||||||
Other liabilities | 1,009 | 739 | |||||||||||||||||||||||||||||||||
Total capital | 6,804 | 7,191 | |||||||||||||||||||||||||||||||||
Total liabilities and capital | $ | 142,422 | $ | 146,906 | |||||||||||||||||||||||||||||||
Net interest income and net yield on interest-earning assets | $ | 264 | 0.25 | $ | 394 | 0.36 | |||||||||||||||||||||||||||||
Interest-rate spread | 0.22 | 0.25 | |||||||||||||||||||||||||||||||||
Average interest-earning assets to interest-bearing liabilities | 104.46 | 104.88 |
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||
2020 vs. 2019 | 2020 vs. 2019 | |||||||||||||||||||||||||||||||||||||
Volume (1) | Rate (1) | Increase (Decrease) | Volume (1) | Rate (1) | Increase (Decrease) | |||||||||||||||||||||||||||||||||
Increase (decrease) in interest income: | ||||||||||||||||||||||||||||||||||||||
Interest-bearing deposits | $ | (5) | $ | (17) | $ | (22) | $ | (9) | $ | (50) | $ | (59) | ||||||||||||||||||||||||||
Securities purchased under agreements to resell | 11 | (43) | (32) | 35 | (93) | (58) | ||||||||||||||||||||||||||||||||
Federal funds sold | (10) | (51) | (61) | 29 | (201) | (172) | ||||||||||||||||||||||||||||||||
Investment securities | (20) | (139) | (159) | (21) | (330) | (351) | ||||||||||||||||||||||||||||||||
Advances | (156) | (293) | (449) | (152) | (961) | (1,113) | ||||||||||||||||||||||||||||||||
Mortgage loans | (1) | (1) | (2) | (3) | (1) | (4) | ||||||||||||||||||||||||||||||||
Total | (181) | (544) | (725) | (121) | (1,636) | (1,757) | ||||||||||||||||||||||||||||||||
Increase (decrease) in interest expense: | ||||||||||||||||||||||||||||||||||||||
Interest-bearing deposits | 2 | (10) | (8) | 8 | (24) | (16) | ||||||||||||||||||||||||||||||||
Consolidated obligations, net: | ||||||||||||||||||||||||||||||||||||||
Discount notes | (103) | (220) | (323) | (62) | (739) | (801) | ||||||||||||||||||||||||||||||||
Bonds | (60) | (305) | (365) | (25) | (785) | (810) | ||||||||||||||||||||||||||||||||
Total | (161) | (535) | (696) | (79) | (1,548) | (1,627) | ||||||||||||||||||||||||||||||||
Decrease in net interest income | $ | (20) | $ | (9) | $ | (29) | $ | (42) | $ | (88) | $ | (130) |
For the Three Months Ended September 30, 2020 | |||||||||||||||||||||||||||||
Advances | Investments | Consolidated Obligation Bonds | Consolidated Obligation Discount Notes | Total | |||||||||||||||||||||||||
Net interest income: | |||||||||||||||||||||||||||||
Amortization or accretion of active hedging relationships | $ | (15) | $ | — | $ | — | $ | — | $ | (15) | |||||||||||||||||||
Net changes in fair value hedges | 17 | — | 1 | (1) | 17 | ||||||||||||||||||||||||
Net interest settlements on derivatives (1) | (109) | — | 15 | — | (94) | ||||||||||||||||||||||||
Other (2) | (1) | — | — | — | (1) | ||||||||||||||||||||||||
Total effect on net interest income | $ | (108) | $ | — | $ | 16 | $ | (1) | $ | (93) | |||||||||||||||||||
Net losses on derivatives: | |||||||||||||||||||||||||||||
Gains on derivatives not receiving hedge accounting including net interest settlements | $ | — | $ | 1 | $ | — | $ | — | $ | 1 | |||||||||||||||||||
Net losses on trading securities (3) | — | (1) | — | — | (1) | ||||||||||||||||||||||||
Total effect on noninterest income | $ | — | $ | — | $ | — | $ | — | $ | — |
For the Three Months Ended September 30, 2019 | |||||||||||||||||||||||
Advances | Investments | Consolidated Obligation Bonds | Total | ||||||||||||||||||||
Net interest income: | |||||||||||||||||||||||
Amortization or accretion of active hedging relationships | $ | (5) | $ | — | $ | — | $ | (5) | |||||||||||||||
Net changes in fair value hedges | (12) | — | 1 | (11) | |||||||||||||||||||
Net interest settlements on derivatives (1) | 1 | — | (2) | (1) | |||||||||||||||||||
Other (2) | (3) | — | (1) | (4) | |||||||||||||||||||
Total effect on net interest income | $ | (19) | $ | — | $ | (2) | $ | (21) | |||||||||||||||
Net losses on derivatives: | |||||||||||||||||||||||
Losses on derivatives not receiving hedge accounting including net interest settlements | $ | — | $ | (1) | $ | — | $ | (1) | |||||||||||||||
Net gains on trading securities (3) | — | 1 | — | 1 | |||||||||||||||||||
Total effect on noninterest income | $ | — | $ | — | $ | — | $ | — |
For the Nine Months Ended September 30, 2020 | |||||||||||||||||||||||||||||
Advances | Investments | Consolidated Obligation Bonds | Consolidated Obligation Discount Notes | Total | |||||||||||||||||||||||||
Net interest income: | |||||||||||||||||||||||||||||
Amortization or accretion of active hedging relationships | $ | (39) | $ | — | $ | (2) | $ | — | $ | (41) | |||||||||||||||||||
Net changes in fair value hedges | 9 | — | 2 | — | 11 | ||||||||||||||||||||||||
Net interest settlements on derivatives (1) | (238) | — | 34 | 38 | (166) | ||||||||||||||||||||||||
Other (2) | (1) | — | — | — | (1) | ||||||||||||||||||||||||
Total effect on net interest income | $ | (269) | $ | — | $ | 34 | $ | 38 | $ | (197) | |||||||||||||||||||
Net losses on derivatives: | |||||||||||||||||||||||||||||
Losses on derivatives not receiving hedge accounting including net interest settlements | $ | (2) | $ | (4) | $ | — | $ | — | $ | (6) | |||||||||||||||||||
Net gains on trading securities (3) | — | 3 | — | — | 3 | ||||||||||||||||||||||||
Total effect on noninterest income | $ | (2) | $ | (1) | $ | — | $ | — | $ | (3) |
For the Nine Months Ended September 30, 2019 | |||||||||||||||||||||||||||||
Advances | Investments | Consolidated Obligation Bonds | Balance Sheet | Total | |||||||||||||||||||||||||
Net interest income: | |||||||||||||||||||||||||||||
Amortization or accretion of active hedging relationships | $ | (17) | $ | — | $ | — | $ | — | $ | (17) | |||||||||||||||||||
Net changes in fair value hedges | (12) | — | (4) | — | (16) | ||||||||||||||||||||||||
Net interest settlements on derivatives (1) | 35 | — | (32) | — | 3 | ||||||||||||||||||||||||
Other (2) | (3) | — | (1) | — | (4) | ||||||||||||||||||||||||
Total effect on net interest income | $ | 3 | $ | — | $ | (37) | $ | — | $ | (34) | |||||||||||||||||||
Net losses on derivatives: | |||||||||||||||||||||||||||||
Losses on derivatives not receiving hedge accounting including net interest settlements | $ | — | $ | (4) | $ | — | $ | (1) | $ | (5) | |||||||||||||||||||
Net gains on trading securities (3) | — | 4 | — | — | 4 | ||||||||||||||||||||||||
Total effect on noninterest income | $ | — | $ | — | $ | — | $ | (1) | $ | (1) |
For the Three Months Ended September 30, | Increase (Decrease) | For the Nine Months Ended September 30, | Increase (Decrease) | |||||||||||||||||||||||||||||||||||||||||||||||
2020 | 2019 | Amount | Percent | 2020 | 2019 | Amount | Percent | |||||||||||||||||||||||||||||||||||||||||||
Net impairment losses recognized in earnings | $ | — | $ | (4) | $ | 4 | 100.00 | $ | — | $ | (7) | $ | 7 | 100.00 | ||||||||||||||||||||||||||||||||||||
Net gains on trading securities | — | 1 | (1) | (291.34) | 5 | 3 | 2 | 84.35 | ||||||||||||||||||||||||||||||||||||||||||
Net realized gains from sale of investment securities | — | — | — | — | 85 | — | 85 | — | ||||||||||||||||||||||||||||||||||||||||||
Net gains (losses) on derivatives and hedging activities | 1 | (1) | 2 | 116.99 | (6) | (5) | (1) | (23.11) | ||||||||||||||||||||||||||||||||||||||||||
Standby letters of credit fees | 4 | 5 | (1) | (37.31) | 16 | 18 | (2) | (14.10) | ||||||||||||||||||||||||||||||||||||||||||
Other | 4 | 4 | — | 18.84 | 8 | 7 | 1 | 13.57 | ||||||||||||||||||||||||||||||||||||||||||
Total noninterest income | $ | 9 | $ | 5 | $ | 4 | 60.03 | $ | 108 | $ | 16 | $ | 92 | * |
As of September 30, 2020 | ||||||||||||||||||||
Due/Terminates before or | Due/Terminates after | |||||||||||||||||||
on December 31, 2021 | December 31, 2021 | Total | ||||||||||||||||||
Assets with LIBOR exposure | ||||||||||||||||||||
Advance by redemption term (principal amount) (1) | $ | 7,232 | $ | 2,142 | $ | 9,374 | ||||||||||||||
Investment securities by contractual maturity (principal amount) | ||||||||||||||||||||
Non-mortgage-backed securities | 320 | 900 | 1,220 | |||||||||||||||||
Mortgage-backed securities | 20 | 17,102 | 17,122 | |||||||||||||||||
Total investment securities | 340 | 18,002 | 18,342 | |||||||||||||||||
LIBOR-indexed interest-rate swaps notional amount (receive leg) | ||||||||||||||||||||
Cleared | 2,304 | 9,348 | 11,652 | |||||||||||||||||
Uncleared | 135 | 4,435 | 4,570 | |||||||||||||||||
Total interest-rate swaps | 2,439 | 13,783 | 16,222 | |||||||||||||||||
Total principal/notional amount | $ | 10,011 | $ | 33,927 | $ | 43,938 | ||||||||||||||
Liabilities with LIBOR exposure | ||||||||||||||||||||
Consolidated bonds by contractual maturity (principal amount) | $ | 25,060 | $ | — | $ | 25,060 | ||||||||||||||
LIBOR-indexed interest-rate swaps notional amount (pay leg) | ||||||||||||||||||||
Cleared | 720 | 263 | 983 | |||||||||||||||||
Uncleared | 273 | 653 | 926 | |||||||||||||||||
Total interest-rate swaps | 993 | 916 | 1,909 | |||||||||||||||||
Total principal/notional amount | $ | 26,053 | $ | 916 | $ | 26,969 | ||||||||||||||
____________ | ||||||||||||||||||||
(1) Includes all fixed-rate advances that have cap/floor optionality and excludes convertible advances. |
As of December 31, 2019 | |||||||||||||||||
Due/Terminates before or | Due/Terminates after | ||||||||||||||||
on December 31, 2021 | December 31, 2021 | Total | |||||||||||||||
Assets with LIBOR exposure | |||||||||||||||||
Advance by redemption term (principal amount) (1) | $ | 24,828 | $ | 2,334 | $ | 27,162 | |||||||||||
Investment securities by contractual maturity (principal amount) | |||||||||||||||||
Non-mortgage-backed securities | 1,312 | 900 | 2,212 | ||||||||||||||
Mortgage-backed securities | 20 | 20,631 | 20,651 | ||||||||||||||
Total investment securities | 1,332 | 21,531 | 22,863 | ||||||||||||||
LIBOR-indexed interest-rate swaps notional amount (receive leg) | |||||||||||||||||
Cleared | 9,968 | 11,408 | 21,376 | ||||||||||||||
Uncleared | 265 | 4,901 | 5,166 | ||||||||||||||
Total interest-rate swaps | 10,233 | 16,309 | 26,542 | ||||||||||||||
Total principal/notional amount | $ | 36,393 | $ | 40,174 | $ | 76,567 | |||||||||||
Liabilities with LIBOR exposure | |||||||||||||||||
Consolidated bonds by contractual maturity (principal amount) | $ | 42,820 | $ | — | $ | 42,820 | |||||||||||
LIBOR-indexed interest-rate swaps notional amount (pay leg) | |||||||||||||||||
Cleared | 12,973 | 263 | 13,236 | ||||||||||||||
Uncleared | 11,578 | 1,980 | 13,558 | ||||||||||||||
Total interest-rate swaps | 24,551 | 2,243 | 26,794 | ||||||||||||||
Total principal/notional amount | $ | 67,371 | $ | 2,243 | $ | 69,614 | |||||||||||
____________ | |||||||||||||||||
(1) Includes all fixed-rate advances that have cap/floor optionality and excludes convertible advances. |
As of September 30, 2020 | As of December 31, 2019 | |||||||||||||
Terminates before or on December 31, 2021 | $ | 3,000 | $ | 3,084 | ||||||||||
Terminates after December 31, 2021 | 4,000 | 4,000 | ||||||||||||
Total (1) | $ | 7,000 | $ | 7,084 |
As of September 30, 2020 | ||||||||||||||
Rating | Number of Borrowers | Par Value of Outstanding Advances | ||||||||||||
101 | 318 | $ | 46,711 | |||||||||||
102 | 34 | 10,157 | ||||||||||||
103 | 2 | 29 | ||||||||||||
104 | 5 | 64 | ||||||||||||
Total | 359 | $ | 56,961 |
As of December 31, 2019 | ||||||||||||||
Rating | Number of Borrowers | Par Value of Outstanding Advances | ||||||||||||
1 | 96 | $ | 2,387 | |||||||||||
2 | 62 | 14,958 | ||||||||||||
3 | 48 | 10,287 | ||||||||||||
4 | 91 | 61,269 | ||||||||||||
5 | 40 | 4,695 | ||||||||||||
6 | 7 | 79 | ||||||||||||
7 | 4 | 31 | ||||||||||||
8 | 1 | 16 | ||||||||||||
9 | 2 | 12 | ||||||||||||
10 | 3 | 31 | ||||||||||||
Subtotal (rating from 1 to 10) | 354 | 93,765 | ||||||||||||
101 | 11 | 2,359 | ||||||||||||
102 | 3 | 298 | ||||||||||||
103 | 1 | 19 | ||||||||||||
104 | 1 | 15 | ||||||||||||
Subtotal (rating from 101 to 104) | 16 | 2,691 | ||||||||||||
Total | 370 | $ | 96,456 |
Total Par Value of Outstanding Advances | LCV of Collateral Pledged by Members | First Mortgage Collateral (%) | Securities Collateral (%) | Other Real Estate Related Collateral (%) | |||||||||||||||||||||||||
As of September 30, 2020 | $ | 56,961 | $ | 327,185 | 64.31 | 9.81 | 25.88 | ||||||||||||||||||||||
As of December 31, 2019 | 96,456 | 348,964 | 66.00 | 8.32 | 25.68 |
As of September 30, 2020 | |||||||||||||||||||||||
Federal Funds Sold | Interest-bearing Deposits (1) | Net Derivative Exposure (2) | Total | ||||||||||||||||||||
Australia | $ | 1,150 | $ | — | $ | — | $ | 1,150 | |||||||||||||||
Canada | 1,535 | — | — | 1,535 | |||||||||||||||||||
Finland | 350 | — | — | 350 | |||||||||||||||||||
France | 800 | — | — | 800 | |||||||||||||||||||
Germany | 1,415 | — | — | 1,415 | |||||||||||||||||||
Netherlands | 1,005 | — | — | 1,005 | |||||||||||||||||||
Sweden | 1,000 | — | — | 1,000 | |||||||||||||||||||
United States of America | 1,310 | 1,398 | 15 | 2,723 | |||||||||||||||||||
Total | $ | 8,565 | $ | 1,398 | $ | 15 | $ | 9,978 |
As of December 31, 2019 | |||||||||||||||||||||||
Federal Funds Sold (1) | Interest-bearing Deposits (2) | Net Derivative Exposure (3) | Total | ||||||||||||||||||||
Australia | $ | 975 | $ | — | $ | — | $ | 975 | |||||||||||||||
Austria | 500 | — | — | 500 | |||||||||||||||||||
Canada | 2,275 | — | 6 | 2,281 | |||||||||||||||||||
Finland | 1,150 | — | — | 1,150 | |||||||||||||||||||
Germany | 1,250 | — | — | 1,250 | |||||||||||||||||||
Japan | — | — | 1 | 1 | |||||||||||||||||||
Netherlands | 450 | — | — | 450 | |||||||||||||||||||
Norway | 1,495 | — | — | 1,495 | |||||||||||||||||||
Switzerland | — | — | 1 | 1 | |||||||||||||||||||
United States of America | 1,731 | 3,810 | 16 | 5,557 | |||||||||||||||||||
Total | $ | 9,826 | $ | 3,810 | $ | 24 | $ | 13,660 |
As of September 30, 2020 | |||||||||||||||||||||||||||||
Carrying Value (1) | |||||||||||||||||||||||||||||
Investment Grade | |||||||||||||||||||||||||||||
AAA | AA | A | BBB | Total | |||||||||||||||||||||||||
Investment securities: | |||||||||||||||||||||||||||||
Government-sponsored enterprises debt obligations | $ | — | $ | 3,967 | $ | — | $ | — | $ | 3,967 | |||||||||||||||||||
U.S. Treasury obligations | — | 1,501 | — | — | 1,501 | ||||||||||||||||||||||||
State or local housing agency debt obligations | — | 1 | — | — | 1 | ||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||
U.S. agency obligations-guaranteed residential | — | 312 | — | — | 312 | ||||||||||||||||||||||||
Government-sponsored enterprises residential | — | 7,986 | — | — | 7,986 | ||||||||||||||||||||||||
Government-sponsored enterprises commercial | 552 | 10,973 | — | — | 11,525 | ||||||||||||||||||||||||
Total mortgage-backed securities | 552 | 19,271 | — | — | 19,823 | ||||||||||||||||||||||||
Total investment securities | 552 | 24,740 | — | — | 25,292 | ||||||||||||||||||||||||
Other investments: | |||||||||||||||||||||||||||||
Interest-bearing deposits | — | 5 | 1,345 | 48 | 1,398 | ||||||||||||||||||||||||
Securities purchased under agreements to resell | — | 4,000 | 5,000 | 4,000 | 13,000 | ||||||||||||||||||||||||
Federal funds sold | — | 2,085 | 6,170 | 310 | 8,565 | ||||||||||||||||||||||||
Total other investments | — | 6,090 | 12,515 | 4,358 | 22,963 | ||||||||||||||||||||||||
Total investments | $ | 552 | $ | 30,830 | $ | 12,515 | $ | 4,358 | $ | 48,255 |
As of December 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying Value (1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Grade | Below Investment Grade | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AAA | AA | A | BBB | BB | B | CCC | CC | D | Unrated | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment securities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Government-sponsored enterprises debt obligations | $ | — | $ | 4,556 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 4,556 | |||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury obligations | — | 1,499 | — | — | — | — | — | — | — | — | 1,499 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
State or local housing agency debt obligations | — | 1 | — | — | — | — | — | — | — | — | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. agency obligations-guaranteed residential | — | 89 | — | — | — | — | — | — | — | — | 89 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Government-sponsored enterprises residential | — | 8,642 | — | — | — | — | — | — | — | — | 8,642 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Government-sponsored enterprises commercial | 167 | 12,351 | — | — | — | — | — | — | — | — | 12,518 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Private-label residential | — | 38 | 44 | 47 | 54 | 18 | 210 | 34 | 48 | 383 | 876 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total mortgage-backed securities | 167 | 21,120 | 44 | 47 | 54 | 18 | 210 | 34 | 48 | 383 | 22,125 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total investment securities | 167 | 27,176 | 44 | 47 | 54 | 18 | 210 | 34 | 48 | 383 | 28,181 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other investments: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest-bearing deposits | — | 939 | 2,222 | 649 | — | — | — | — | — | — | 3,810 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities purchased under agreements to resell | — | 1,800 | 4,250 | 2,750 | — | — | — | — | — | — | 8,800 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Federal funds sold | — | 4,120 | 5,176 | 530 | — | — | — | — | — | — | 9,826 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total other investments | — | 6,859 | 11,648 | 3,929 | — | — | — | — | — | — | 22,436 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total investments | $ | 167 | $ | 34,035 | $ | 11,692 | $ | 3,976 | $ | 54 | $ | 18 | $ | 210 | $ | 34 | $ | 48 | $ | 383 | $ | 50,617 |
As of September 30, 2020 | ||||||||||||||||||||||||||||||||
Notional Amount | Net Derivatives Fair Value Before Collateral | Cash Collateral Pledged To (From) Counterparty | Other Collateral Pledged To (From) Counterparty | Net Credit Exposure to Counterparties | ||||||||||||||||||||||||||||
Non-member counterparties: | ||||||||||||||||||||||||||||||||
Asset positions with credit exposure: | ||||||||||||||||||||||||||||||||
Cleared derivatives | $ | 27,943 | $ | 15 | $ | 385 | $ | — | $ | 400 | ||||||||||||||||||||||
Liability positions with credit exposure: | ||||||||||||||||||||||||||||||||
Single-A | 8,670 | (390) | 406 | — | 16 | |||||||||||||||||||||||||||
Triple-B | 6,448 | (170) | 189 | — | 19 | |||||||||||||||||||||||||||
Cleared derivatives | 482 | — | 4 | — | 4 | |||||||||||||||||||||||||||
Total derivative positions with non-member counterparties to which the Bank had credit exposure | 43,543 | (545) | 984 | — | 439 | |||||||||||||||||||||||||||
Member institutions (1) | 12 | 1 | — | (1) | — | |||||||||||||||||||||||||||
Total | $ | 43,555 | $ | (544) | $ | 984 | $ | (1) | $ | 439 |
As of December 31, 2019 | ||||||||||||||||||||||||||||||||
Notional Amount | Net Derivatives Fair Value Before Collateral | Cash Collateral Pledged To (From) Counterparty | Other Collateral Pledged To (From) Counterparty | Net Credit Exposure to Counterparties | ||||||||||||||||||||||||||||
Non-member counterparties: | ||||||||||||||||||||||||||||||||
Asset positions with credit exposure: | ||||||||||||||||||||||||||||||||
Double-A | $ | 705 | $ | 6 | $ | (6) | $ | — | $ | — | ||||||||||||||||||||||
Single-A | 6,798 | 3 | (1) | — | 2 | |||||||||||||||||||||||||||
Cleared derivatives | 23,766 | 15 | 336 | — | 351 | |||||||||||||||||||||||||||
Liability positions with credit exposure: | ||||||||||||||||||||||||||||||||
Single-A | 5,189 | (165) | 169 | — | 4 | |||||||||||||||||||||||||||
Triple-B | 6,233 | (18) | 20 | — | 2 | |||||||||||||||||||||||||||
Cleared derivatives | 31,425 | (1) | 18 | — | 17 | |||||||||||||||||||||||||||
Total derivative positions with non-member counterparties to which the Bank had credit exposure | 74,116 | (160) | 536 | — | 376 | |||||||||||||||||||||||||||
Member institutions (1) | 141 | 4 | — | (4) | — | |||||||||||||||||||||||||||
Total | $ | 74,257 | $ | (156) | $ | 536 | $ | (4) | $ | 376 |
As of September 30, 2020 | As of December 31, 2019 | |||||||||||||||||||||||||
Hedged Item / Hedging Instrument | Hedging Objective | Hedge Accounting Designation | Notional Amount | Notional Amount | ||||||||||||||||||||||
Advances | ||||||||||||||||||||||||||
Pay fixed, receive variable interest-rate swap (without options) | Converts the advance’s fixed rate to a variable-rate index. | Fair value hedges | $ | 2,334 | $ | 2,382 | ||||||||||||||||||||
Pay fixed, receive variable interest-rate swap (with options) | Converts the advance’s fixed rate to a variable-rate index and offsets option risk in the advance. | Fair value hedges | 24,109 | 26,442 | ||||||||||||||||||||||
Pay variable with embedded features, receive variable interest-rate swap (non-callable) | Reduces interest-rate sensitivity and repricing gaps by converting the advance’s variable rate to a different variable-rate index and/or offsets embedded option risk in the advance. | Fair value hedges | 41 | 43 | ||||||||||||||||||||||
Pay-fixed with embedded features, receive-variable interest-rate swap (non-callable) | Reduces interest-rate sensitivity and repricing gaps by converting the advance’s fixed rate to a variable-rate index and/or offsets embedded option risk in the advance. | Fair value hedges | 472 | 260 | ||||||||||||||||||||||
Pay variable with embedded features, receive variable interest-rate swap (callable) | Reduces interest-rate sensitivity and repricing gaps by converting the advance’s variable rate to a different variable-rate index and/or offsets embedded option risk in the advance. | Fair value hedges | 400 | 650 | ||||||||||||||||||||||
Total | 27,356 | 29,777 | ||||||||||||||||||||||||
Investments | ||||||||||||||||||||||||||
Pay fixed, receive variable interest-rate swap | Converts the investment’s fixed rate to a variable-rate index. | Non-qualifying hedges | 56 | 56 | ||||||||||||||||||||||
Consolidated Obligation Bonds | ||||||||||||||||||||||||||
Receive fixed, pay variable interest-rate swap (without options) | Converts the bond’s fixed rate to a variable-rate index. | Fair value hedges | 1,694 | 14,033 | ||||||||||||||||||||||
Receive fixed, pay variable interest-rate swap (with options) | Converts the bond’s fixed rate to a variable-rate index and offsets option risk in the bond. | Fair value hedges | 225 | 12,240 | ||||||||||||||||||||||
Total | 1,919 | 26,273 | ||||||||||||||||||||||||
Consolidated Obligation Discount Notes | ||||||||||||||||||||||||||
Receive fixed, pay variable interest-rate swap | Converts the discount note’s fixed rate to a variable-rate index. | Fair value hedges | 7,342 | 17,587 | ||||||||||||||||||||||
Balance Sheet | ||||||||||||||||||||||||||
Pay fixed, receive variable interest-rate swap | Converts the asset or liability fixed rate to a variable-rate index. | Non-qualifying hedges | — | 100 | ||||||||||||||||||||||
Interest-rate cap or floor | Protects against changes in income of certain assets due to changes in interest rates. | Non-qualifying hedges | 7,000 | 7,000 | ||||||||||||||||||||||
Total | 7,000 | 7,100 | ||||||||||||||||||||||||
Intermediary Positions and Other | ||||||||||||||||||||||||||
Pay fixed, receive variable interest-rate swap, and receive fixed, pay variable interest-rate swap | To offset interest-rate swaps executed with members by executing interest-rate swaps with derivatives counterparties. | Non-qualifying hedges | 25 | 323 | ||||||||||||||||||||||
Interest-rate cap or floor | To offset interest-rate caps or floors executed with members by executing interest-rate caps or floors with derivatives counterparties. | Non-qualifying hedges | — | 83 | ||||||||||||||||||||||
Total | 25 | 406 | ||||||||||||||||||||||||
Total notional amount | $ | 43,698 | $ | 81,199 |
As of September 30, 2020 | As of December 31, 2019 | ||||||||||||||||||||||||||||||||||
Down 200 Basis Points (1) | Current | Up 200 Basis Points | Down 200 Basis Points (1) | Current | Up 200 Basis Points | ||||||||||||||||||||||||||||||
Assets | 0.39 | 0.35 | 0.44 | 0.23 | 0.21 | 0.28 | |||||||||||||||||||||||||||||
Liabilities | 0.26 | 0.33 | 0.25 | 0.21 | 0.20 | 0.18 | |||||||||||||||||||||||||||||
Equity | 2.63 | 0.79 | 4.24 | 0.53 | 0.37 | 2.38 | |||||||||||||||||||||||||||||
Effective duration gap | 0.13 | 0.02 | 0.19 | 0.02 | 0.01 | 0.10 |
As of September 30, 2020 | As of December 31, 2019 | ||||||||||||||||||||||||||||||||||
Down 200 Basis Points (1) | Current | Up 200 Basis Points | Down 200 Basis Points (1) | Current | Up 200 Basis Points | ||||||||||||||||||||||||||||||
Assets | $ | 111,172 | $ | 110,365 | $ | 109,472 | $ | 149,996 | $ | 148,896 | $ | 148,146 | |||||||||||||||||||||||
Liabilities | 104,885 | 104,738 | 104,194 | 142,301 | 141,858 | 141,313 | |||||||||||||||||||||||||||||
Equity | 6,287 | 5,627 | 5,278 | 7,695 | 7,038 | 6,833 |
Exhibit No. | Description | Form | Exhibit | Dated Filed | ||||||||||||||||||||||
3.1 | 8-K | 3.1 | 10/26/2012 | |||||||||||||||||||||||
3.2 | 8-K | 3.2 | 10/31/2019 | |||||||||||||||||||||||
4.1 | 8-K | 99.2 | 8/5/2011 | |||||||||||||||||||||||
31.1 | ||||||||||||||||||||||||||
31.2 | ||||||||||||||||||||||||||
32.1 | ||||||||||||||||||||||||||
101.INS | XBRL Instance Document - The instance document does not appear in the interactive data file because its XBRL tags are embedded within the inline XBRL document. | |||||||||||||||||||||||||
101.SCH | XBRL Taxonomy Extension Schema Document. | |||||||||||||||||||||||||
101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document. | |||||||||||||||||||||||||
101.DEF | XBRL Taxonomy Extension Definition Linkbase Document. | |||||||||||||||||||||||||
101.LAB | XBRL Taxonomy Extension Label Linkbase Document. | |||||||||||||||||||||||||
101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document. | |||||||||||||||||||||||||
104 | The cover page of this Quarterly Report 10-Q, formatted in inline XBRL. | |||||||||||||||||||||||||
+ Furnished herewith |
Federal Home Loan Bank of Atlanta | ||||||||
Date: | November 6, 2020 | By /s/ W. Wesley McMullan | ||||||
Name: W. Wesley McMullan Title: President and Chief Executive Officer | ||||||||
Date: | November 6, 2020 | By /s/ Haig H. Kazazian III | ||||||
Name: Haig H. Kazazian III Title: Senior Vice President and Chief Financial Officer |
Date: | November 6, 2020 | /s/ W. Wesley McMullan | ||||||
W. Wesley McMullan | ||||||||
President and Chief Executive Officer |
Date: | November 6, 2020 | /s/ Haig H. Kazazian III | ||||||
Haig H. Kazazian III | ||||||||
Senior Vice President and | ||||||||
Chief Financial Officer |
Date: | November 6, 2020 | /s/ W. Wesley McMullan | ||||||
W. Wesley McMullan | ||||||||
President and Chief Executive Officer | ||||||||
Date: | November 6, 2020 | /s/ Haig H. Kazazian III | ||||||
Haig H. Kazazian III | ||||||||
Senior Vice President and Chief Financial Officer | ||||||||
Statements of Condition (Unaudited) (Parenthetical) - USD ($) shares in Millions, $ in Millions |
Sep. 30, 2020 |
Dec. 31, 2019 |
---|---|---|
Deposits with other FHLBanks | $ 5 | $ 5 |
Debt Securities, Available-for-sale, Amortized Cost | 0 | 643 |
Held-to-maturity securities, fair value | 23,821 | 25,903 |
Total allowance for credit loss | $ 1 | $ 1 |
Capital stock Class B putable par value (per share) | $ 100 | $ 100 |
Subclass B1 [Member] | ||
Capital stock, shares issued | 9 | 9 |
Capital stock, shares outstanding | 9 | 9 |
Subclass B2 [Member] | ||
Capital stock, shares issued | 24 | 41 |
Capital stock, shares outstanding | 24 | 41 |
Statements of Income (Unaudited) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2020 |
Sep. 30, 2019 |
Sep. 30, 2020 |
Sep. 30, 2019 |
|
Interest income | ||||
Advances | $ 135 | $ 584 | $ 786 | $ 1,899 |
Interest-bearing deposits | 1 | 23 | 17 | 76 |
Securities purchased under agreements to resell | 2 | 34 | 30 | 88 |
Federal funds sold | 2 | 63 | 46 | 218 |
Trading securities | 1 | 8 | 8 | 18 |
Available-for-sale securities | 0 | 21 | 3 | 65 |
Held-to-maturity securities | 44 | 175 | 243 | 522 |
Mortgage loans | 3 | 5 | 10 | 14 |
Total interest income | 188 | 913 | 1,143 | 2,900 |
Interest expense | ||||
Discount notes | 40 | 363 | 344 | 1,145 |
Bonds | 59 | 424 | 530 | 1,340 |
Interest-bearing deposits | 0 | 8 | 5 | 21 |
Total interest expense | 99 | 795 | 879 | 2,506 |
Net interest income | 89 | 118 | 264 | 394 |
Noninterest income (loss) | ||||
Net impairment losses recognized in earnings | 0 | (4) | 0 | (7) |
Net gains on trading securities | 0 | 1 | 5 | 3 |
Net realized gains from sale of available-for-sale securities | 0 | 0 | 82 | 0 |
Net realized gains from sale of held-to-maturity securities | 0 | 0 | 3 | 0 |
Net gains (losses) on derivatives and hedging activities | 1 | (1) | (6) | (5) |
Standby letters of credit fees | 4 | 5 | 16 | 18 |
Other | 4 | 4 | 8 | 7 |
Total noninterest income | 9 | 5 | 108 | 16 |
Noninterest expense | ||||
Compensation and benefits | 21 | 21 | 81 | 58 |
Other operating expenses | 8 | 10 | 26 | 29 |
Federal Housing Finance Agency | 3 | 3 | 8 | 8 |
Office of Finance | 1 | 2 | 5 | 5 |
Other | 2 | 3 | 7 | 10 |
Total noninterest expense | 35 | 39 | 127 | 110 |
Income before assessment | 63 | 84 | 245 | 300 |
Affordable Housing Program assessment | 7 | 8 | 25 | 30 |
Net income | $ 56 | $ 76 | $ 220 | $ 270 |
Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2020 |
Sep. 30, 2019 |
Sep. 30, 2020 |
Sep. 30, 2019 |
|
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 56 | $ 76 | $ 220 | $ 270 |
Other comprehensive income (loss): | ||||
Reclassification of unrealized gains related to the sale of available-for-sale securities | 0 | 0 | (41) | 0 |
Net noncredit portion of other-than temporary impairment losses on available-for-sale securities | 0 | (8) | 0 | (24) |
Pension and postretirement benefits | 1 | 1 | 2 | 2 |
Net current period other comprehensive Income (loss) | 1 | (7) | (39) | (22) |
Total comprehensive income | $ 57 | $ 69 | $ 181 | $ 248 |
Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Millions, $ in Millions |
Total |
Capital Stock Class B Putable [Member] |
Retained Earnings |
Retained Earnings, Restricted [Member] |
Retained Earnings, Unrestricted [Member] |
Accumulated Other Comprehensive Income [Member] |
---|---|---|---|---|---|---|
Beginning balance (shares) at Dec. 31, 2018 | 55 | |||||
Beginning balance at Dec. 31, 2018 | $ 7,647 | $ 5,486 | $ 2,110 | $ 463 | $ 1,647 | $ 51 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Issuance of capital stock (shares) | 70 | |||||
Issuance of capital stock | 7,065 | $ 7,065 | ||||
Repurchase/redemption of capital stock (shares) | (73) | |||||
Repurchase/redemption of capital stock | (7,335) | $ (7,335) | ||||
Net shares reclassified to mandatorily redeemable capital stock | (3) | |||||
Comprehensive income (loss) | 248 | 270 | 54 | 216 | (22) | |
Partial recovery of prior capital distribution to Financing Corporation | 0 | |||||
Cash dividends on capital stock | (248) | (248) | 0 | (248) | ||
Ending balance (shares) at Sep. 30, 2019 | 52 | |||||
Ending balance at Sep. 30, 2019 | 7,374 | $ 5,213 | 2,132 | 517 | 1,615 | 29 |
Beginning balance (shares) at Jun. 30, 2019 | 52 | |||||
Beginning balance at Jun. 30, 2019 | 7,370 | $ 5,196 | 2,138 | 502 | 1,636 | 36 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Issuance of capital stock (shares) | 21 | |||||
Issuance of capital stock | 2,134 | $ 2,134 | ||||
Repurchase/redemption of capital stock (shares) | (21) | |||||
Repurchase/redemption of capital stock | (2,114) | $ (2,114) | ||||
Net Shares Reclassified to Mandatorily Redeemable Capital Stock, Shares | 0 | |||||
Net shares reclassified to mandatorily redeemable capital stock | (3) | $ (3) | ||||
Comprehensive income (loss) | 69 | 76 | 15 | 61 | (7) | |
Cash dividends on capital stock | (82) | (82) | 0 | (82) | ||
Ending balance (shares) at Sep. 30, 2019 | 52 | |||||
Ending balance at Sep. 30, 2019 | 7,374 | $ 5,213 | 2,132 | 517 | 1,615 | 29 |
Beginning balance (shares) at Dec. 31, 2019 | 50 | |||||
Beginning balance at Dec. 31, 2019 | 7,163 | $ 4,988 | 2,153 | 537 | 1,616 | 22 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Issuance of capital stock (shares) | 48 | |||||
Issuance of capital stock | 4,868 | $ 4,868 | ||||
Repurchase/redemption of capital stock (shares) | (65) | |||||
Repurchase/redemption of capital stock | (6,493) | $ (6,493) | ||||
Net Shares Reclassified to Mandatorily Redeemable Capital Stock, Shares | 0 | |||||
Net shares reclassified to mandatorily redeemable capital stock | (22) | $ (22) | ||||
Comprehensive income (loss) | 181 | 220 | 44 | 176 | (39) | |
Partial recovery of prior capital distribution to Financing Corporation | 29 | 29 | 29 | |||
Cash dividends on capital stock | (204) | (204) | 0 | (204) | ||
Ending balance (shares) at Sep. 30, 2020 | 33 | |||||
Ending balance at Sep. 30, 2020 | 5,522 | $ 3,341 | 2,198 | 581 | 1,617 | (17) |
Beginning balance (shares) at Jun. 30, 2020 | 37 | |||||
Beginning balance at Jun. 30, 2020 | 5,862 | $ 3,680 | 2,200 | 570 | 1,630 | (18) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Issuance of capital stock (shares) | 3 | |||||
Issuance of capital stock | 308 | $ 308 | ||||
Repurchase/redemption of capital stock (shares) | (7) | |||||
Repurchase/redemption of capital stock | (647) | $ (647) | ||||
Net shares reclassified to mandatorily redeemable capital stock | 0 | |||||
Comprehensive income (loss) | 57 | 56 | 11 | 45 | 1 | |
Cash dividends on capital stock | (58) | (58) | 0 | (58) | ||
Ending balance (shares) at Sep. 30, 2020 | 33 | |||||
Ending balance at Sep. 30, 2020 | $ 5,522 | $ 3,341 | $ 2,198 | $ 581 | $ 1,617 | $ (17) |
Statements of Cash Flows (Unaudited) - USD ($) $ in Millions |
9 Months Ended | |
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Sep. 30, 2020 |
Sep. 30, 2019 |
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Operating Activities | ||
Net income | $ 220 | $ 270 |
Adjustments to reconcile net income to net cash used in operating activities: | ||
Depreciation and amortization | (98) | (42) |
Net change in derivative and hedging activities | (689) | (829) |
Net change in fair value adjustments on trading securities | (5) | (3) |
Net impairment losses recognized in earnings | 0 | 7 |
Net realized gains from sale of available-for-sale securities | (82) | 0 |
Net realized gains from sale of held-to-maturity securities | (3) | 0 |
Net change in: | ||
Accrued interest receivable | 162 | 22 |
Other assets | 84 | 18 |
Affordable Housing Program payable | (4) | (2) |
Accrued interest payable | (151) | 10 |
Other liabilities | (77) | (24) |
Total adjustments | (863) | (843) |
Net cash used in operating activities | (643) | (573) |
Investing activities | ||
Interest-bearing deposits | 1,971 | 3,549 |
Securities purchased under agreements to resell | (4,200) | (3,000) |
Federal funds sold | 1,261 | (997) |
Loans to other FHLBanks | 0 | 500 |
Trading securities: | ||
Purchases of long-term | 0 | (1,499) |
Available-for-sale [Abstract] | ||
Proceeds from sales | 726 | 0 |
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale | 0 | 147 |
Held-to-maturity securities: | ||
Proceeds from principal collected | 7,710 | 5,156 |
Proceeds from Sales | 195 | 0 |
Purchases of long-term | (5,730) | (6,251) |
Advances: | ||
Proceeds from principal collected | 215,848 | 277,629 |
Made | (176,347) | (270,659) |
Mortgage loans: | ||
Proceeds from principal collected | 53 | 47 |
Proceeds from sale of foreclosed assets | 1 | 1 |
Purchase of premises, equipment, and software | (5) | (1) |
Net cash provided by investing activities | 41,483 | 4,622 |
Financing activities | ||
Net change in interest-bearing deposits | 450 | 370 |
Net payments on derivatives containing a financing element | (3) | 0 |
Proceeds from issuance of consolidated obligations: | ||
Discount notes | 270,257 | 733,941 |
Bonds | 59,849 | 78,475 |
Payments for debt issuance costs | (7) | (9) |
Payments for maturing and retiring consolidated obligations: | ||
Discount notes | (286,765) | (744,911) |
Bonds | (79,524) | (71,345) |
Proceeds from issuance of capital stock | 4,868 | 7,065 |
Payments for repurchase/redemption of capital stock | (6,493) | (7,335) |
Payments for repurchase/redemption of mandatorily redeemable capital stock | (22) | (3) |
Partial recovery of prior capital distribution to Financing Corporation | 29 | 0 |
Cash dividends paid | (204) | (248) |
Net cash used in financing activities | (37,565) | (4,000) |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect | 3,275 | 49 |
Cash and due from banks at beginning of the period | 911 | 35 |
Cash and due from banks at end of the period | 4,186 | 84 |
Cash paid for: | ||
Interest | 1,129 | 2,496 |
Affordable Housing Program assessment, net | 28 | 31 |
Noncash investing and financing activities: | ||
Net shares reclassified to mandatorily redeemable capital stock | 22 | 3 |
HeldToMaturitySecuritiesAcquiredWithAccruedLiabilities | $ 0 | $ 0 |
Recently Issued and Adopted Accounting Guidance |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounting Standards Update and Change in Accounting Principle [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recently Issued And Adopted Accounting Guidance | The following tables provide a summary of accounting guidance issued by the Financial Accounting Standards Board that was adopted, and recently issued guidance not yet adopted, which may impact the Bank’s financial statements. Recently Adopted Accounting Guidance
Recently Issued Accounting Guidance Not Yet Adopted
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New Accounting Pronouncements, Policy [Policy Text Block] | The following tables provide a summary of accounting guidance issued by the Financial Accounting Standards Board that was adopted, and recently issued guidance not yet adopted, which may impact the Bank’s financial statements. Recently Adopted Accounting Guidance
Recently Issued Accounting Guidance Not Yet Adopted
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Basis of Presentation |
9 Months Ended |
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Sep. 30, 2020 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Significant Accounting Policies | Basis of Presentation The accompanying unaudited interim financial statements of the Federal Home Loan Bank of Atlanta (Bank) have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). To prepare the financial statements in conformity with GAAP, management must make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and income and expenses during the reporting period. Actual results could be different from these estimates. The foregoing interim financial statements are unaudited; however, in the opinion of management, all adjustments, consisting only of normal recurring adjustments necessary for a fair statement of the results for the interim periods, have been included. The results of operations for interim periods are not necessarily indicative of results to be expected for the year ending 2020, or for other interim periods. The unaudited interim financial statements should be read in conjunction with the audited financial statements for the year ended December 31, 2019, which are contained in the Bank’s 2019 Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on March 5, 2020 (Form 10-K). The Bank has certain financial instruments, including derivative instruments and securities purchased under agreements to resell, that are subject to offset under master netting arrangements or by operation of law. Additional information regarding derivative instruments is provided in Note 11—Derivatives and Hedging Activities to the Bank’s interim financial statements. The Bank does not have any offsetting liabilities related to its securities purchased under agreements to resell for the periods presented. Based on the fair value of the related securities held as collateral, the securities purchased under agreements to resell were fully collateralized for the periods presented. Refer to Note 2—Summary of Significant Accounting Policies to the Bank’s 2019 audited financial statements for a description of all the Bank’s significant accounting policies. There have been no changes to these policies as of September 30, 2020, except for policy updates related to new accounting guidance pertaining to the measurement of credit losses on financial instruments which is described below. Beginning on January 1, 2020, the Bank adopted new accounting guidance pertaining to the measurement of credit losses on financial instruments that requires a financial asset or group of financial assets measured at amortized cost to be presented at the net amount expected to be collected. The new guidance also requires credit losses relating to these financial instruments as well as available-for-sale securities to be recorded through the allowance for credit losses. Key changes as compared to prior accounting guidance are detailed below. Consistent with the modified retrospective method of adoption, the prior period has not been revised to conform to the new basis of accounting. Refer to Note 2—Summary of Significant Accounting Policies to the Bank’s 2019 audited financial statements for information on the prior accounting treatment. Interest-bearing Deposits, Securities Purchased under Agreements to resell, and Federal Funds Sold. Interest-bearing deposits, securities purchased under agreements to resell, and federal funds sold provide short-term liquidity and are carried at amortized cost. Accrued interest receivable is recorded separately on the Statements of Condition. These investments are generally transacted with counterparties that have received a credit rating of triple-B or greater (investment grade) by a nationally recognized statistical rating organization (NRSRO) including the following: Standard and Poor’s (S&P), Moody’s Investors Service (Moody’s), and Fitch Ratings. All of these investments were with counterparties rated investment grade as of September 30, 2020. These investments are evaluated quarterly for expected credit losses. If applicable, an allowance for credit losses is recorded with a corresponding credit loss expense (or reversal of credit loss expense). The Bank uses the collateral maintenance provision practical expedient to evaluate potential credit losses related to securities purchased under agreements to resell. Consequently, a credit loss would be recognized if there is a collateral shortfall which the Bank does not believe the counterparty will replenish in accordance with its contractual terms. The credit loss would be limited to the difference between the fair value of the collateral and the investment’s amortized cost. Securities purchased under agreements to resell are short-term and are structured such that they are evaluated regularly to determine if the market value of the underlying securities decreases below the market value required as collateral (i.e. subject to collateral maintenance provisions). If so, the counterparty must place an equivalent amount of additional securities as collateral or remit an equivalent amount of cash, generally by the next business day. Based upon the collateral held as security and collateral maintenance provisions with its counterparties, the Bank determined that no allowance for credit losses was needed for its securities purchased under agreements to resell as of September 30, 2020 and December 31, 2019. The carrying value of securities purchased under agreements to resell excludes accrued interest receivable that was not material as of September 30, 2020 and December 31, 2019. Federal funds sold are unsecured loans that are generally transacted on an overnight term. All investments in interest-bearing deposits and federal funds sold were repaid or expected to be repaid according to the contractual terms as of September 30, 2020 and December 31, 2019. No allowance for credit losses was recorded for these assets as of September 30, 2020 and December 31, 2019. The carrying values of interest-bearing deposits excludes accrued interest receivable that was not material as of September 30, 2020 and December 31, 2019. The carrying values of federal funds sold excludes accrued interest receivable that was not material as of September 30, 2020 and $10 as of December 31, 2019. Held-to-maturity Securities. Securities that the Bank has both the ability and intent to hold to maturity are classified as held-to-maturity and carried at amortized cost, which is original cost net of periodic principal repayments and amortization of premiums and accretion of discounts. Accrued interest receivable is recorded separately on the Statements of Condition. Held-to-maturity securities are evaluated quarterly for expected credit losses on a pool basis unless an individual assessment is deemed necessary because the securities do not possess similar risk characteristics. If applicable, an allowance for credit losses is recorded with a corresponding credit loss expense (or reversal of credit loss expense). The allowance for credit losses excludes uncollectible accrued interest receivable, which is measured separately. Prior to January 1, 2020, credit losses were recorded as a direct write-down of the held-to-maturity security carrying value. The Bank’s held-to-maturity securities consist of U.S. agency obligations, government-sponsored enterprise debt obligations, state or local housing agency debt obligations, and MBS issued by the Government National Mortgage Association (Ginnie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and the Federal National Mortgage Association (Fannie Mae) that are backed by single-family or multifamily mortgage loans. The Bank only purchase securities considered investment quality. All of these investments were rated double-A, or above, by a NRSRO as of September 30, 2020, based on the lowest long-term credit rating for each security. The Bank evaluates its held-to-maturity securities for impairment on a collective, or pooled basis unless an individual assessment is deemed necessary because the securities do not possess similar risk characteristics. The Bank has not established an allowance for credit loss on any of its held-to-maturity securities as of September 30, 2020 because the securities: (1) were all highly-rated and/or had short remaining terms to maturity, (2) had not experienced, nor did the Bank expect, any payment default on the instruments, and (3) in the case of U.S., government-sponsored enterprises, or other agency obligations, carry an implicit or explicit government guarantee such that the Bank considers the risk of nonpayment to be zero. Advances. Advances are carried at amortized cost, which is original cost net of periodic principal repayments and amortization of premiums and accretion of discounts (including discounts related to the Affordable Housing Program and Economic Development and Growth Enhancement Program), net deferred fees or costs, and fair value hedge adjustments. Accrued interest receivable is recorded separately on the Statements of Condition. The advances are evaluated quarterly for expected credit losses. If applicable, an allowance for credit losses is recorded with a corresponding credit loss expense (or reversal of credit loss expense). Refer to Note 2—Summary of Significant Accounting Policies to the Bank’s 2019 audited financial statements for details on the allowance methodologies related to advances. Mortgage Loans Held for Portfolio. Mortgage loans held for portfolio are recorded at amortized cost, which is original cost, net of periodic principal repayments and amortization of premiums and accretion of discounts, fair value hedge adjustments on loans initially classified as mortgage loan commitments, and direct write-downs. Accrued interest receivable is recorded separately on the Statements of Condition. The Bank performs at least quarterly an assessment of its mortgage loans held for portfolio to estimate expected credit losses. If applicable, an allowance for credit losses is recorded with a corresponding credit loss expense (or reversal of credit loss expense). The Bank measures expected credit losses on mortgage loans on a collective basis, pooling loans with similar risk characteristics. If a mortgage loan no longer shares risk characteristics with other loans, it is removed from the pool and evaluated for expected credit losses on an individual basis. When developing the allowance for credit losses, the Bank measures the estimated loss over the remaining life of a mortgage loan, which also considers how the Bank’s credit enhancements mitigate credit losses. If a loan was purchased at a discount, the discount does not offset the allowance for credit losses. The allowance excludes uncollectible accrued interest receivable, as the Bank writes off accrued interest receivable by reversing interest income if a mortgage loan is placed on nonaccrual status. Refer to Note 2—Summary of Significant Accounting Policies to the Bank’s 2019 audited financial statements for details on the allowance methodologies related to mortgage loans. Off-Balance Sheet Credit Exposures. The Bank evaluates its off-balance sheet credit exposure on a quarterly basis for expected credit losses. If deemed necessary, an allowance for expected credit losses on these off-balance sheet exposures is recorded in other liabilities with a corresponding credit loss expense (or reversal of credit loss expense). The Bank monitors the creditworthiness of its standby letters of credit based on an evaluation of the member. In addition, standby letters of credit are fully collateralized from the time of issuance. The Bank has established parameters for the measurement, review, classification, and monitoring of credit risk related to these standby letters of credit that result in an internal credit rating, which focuses primarily on an institution’s overall financial health and takes into account the quality of assets, earnings, and capital position. In general, borrowers categorized into the highest risk rating category have more restrictions on the types of collateral that they may use to secure standby letters of credit, may be required to maintain higher collateral maintenance levels and deliver loan collateral, and may face more stringent collateral reporting requirements. Based on the Bank’s credit analyses and collateral requirements, the Bank does not deem it necessary to record any additional liability on the Statements of Condition for these commitments as of September 30, 2020. Troubled Debt Restructuring Relief. On March 27, 2020, the Coronavirus, Aid, Relief, and Economic Security Act (the CARES Act) providing optional, temporary relief from accounting for certain loan modifications as troubled debt restructurings (TDRs) was signed into law. Under the CARES Act, TDR relief is available to banks for loan modifications related to the adverse effects of Coronavirus Disease 2019 (COVID-19) (COVID-related modifications) granted to borrowers that are current as of December 31, 2019. TDR relief applies to COVID-related modifications made from March 1, 2020, until the earlier of December 31, 2020, or 60 days following the termination of the national emergency declared by the President of the United States. The Bank has elected to apply the TDR relief provided by the CARES Act. As such, all COVID-related modifications meeting the provisions of the CARES Act will be excluded from TDR classification and accounting. COVID-related modifications that do not meet the provisions of the CARES Act will continue to be assessed for TDR classification. Refer to Note 7—Mortgage Loans Held for Portfolio to the Bank’s interim financial statements for additional information.
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Trading Securities |
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Debt Securities, Trading, Gain (Loss) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trading Securities | Trading Securities Major Security Types. The following table presents trading securities.
The following table presents net gains on trading securities.
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Available-for-sale Securities |
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Debt Securities, Available-for-sale [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Available-for-sale Securities | Note 4—Available-for-sale Securities During the nine months ended September 30, 2020, the Bank sold all of its available-for-sale private-label mortgage-backed securities (MBS). Proceeds from the sale of the available-for-sale private-label MBS totaled $726 which resulted in a net realized gain of $82 determined by the specific identification method. There were no sales during the nine months ended September 30, 2019. Major Security Type. The following table presents information on private-label residential MBS that are classified as available-for-sale.
____________ (1) Amounts represent the non-credit portion of an other-than-temporary impairment during the life of the security. The following table presents private-label residential MBS that are classified as available-for-sale with unrealized losses. The unrealized losses are aggregated by the length of time that the individual securities have been in a continuous unrealized loss position.
The following table presents private-label residential MBS that are classified as available-for-sale and issued by members or affiliates of members, all of which have been issued by Bank of America Corporation, Charlotte, NC.
____________ (1) Amounts represent the non-credit portion of an other-than-temporary impairment during the life of the security.
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Held-to-maturity Securities |
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Debt Securities, Held-to-maturity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Held to Maturity Securities Disclosure | Held-to-maturity Securities During the nine months ended September 30, 2020, for strategic, economic and operational reasons, the Bank sold all of its held-to-maturity private-label MBS. The amortized cost of the held-to-maturity private-label MBS sold was $192. Proceeds from the sale of the held-to-maturity private-label MBS totaled $195, which resulted in a net realized gain of $3 determined by the specific identification method. For each of the held-to-maturity securities which were sold, the Bank had previously collected at least 85 percent of the principal outstanding at the time of acquisition due to prepayments or scheduled prepayments over the term of the security. As such, the sales were considered maturities for purposes of security classification. There were no sales of held-to-maturity securities during the nine months ended September 30, 2019. Major Security Types. The following table presents held-to-maturity securities.
____________ (1) Excludes accrued interest receivable of $11 and $27 as of September 30, 2020 and December 31, 2019, respectively. Redemption Terms. The following table presents the amortized cost and estimated fair value of held-to-maturity securities by contractual maturity. MBS are not presented by contractual maturity because their actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees.
____________ (1) Excludes accrued interest receivable of $11 and $27 as of September 30, 2020 and December 31, 2019, respectively. The following table presents private-label residential MBS that are classified as held-to-maturity and issued by members or affiliates of members, all of which have been issued by Bank of America Corporation, Charlotte, NC.
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Advances |
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Advances [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Advances | Advances Redemption Terms. The following table presents the Bank’s advances outstanding by year of contractual maturity.
___________ (1) The Affordable Housing Program (2) The Economic Development and Growth Enhancement Program (3) Carrying amounts exclude accrued interest receivable of $84 and $214 as of September 30, 2020 and December 31, 2019, respectively. The following table presents advances by year of contractual maturity or, for convertible advances, next conversion date.
Interest-rate Payment Terms. The following table presents interest-rate payment terms for advances.
Credit Risk. The Bank’s potential credit risk from advances is concentrated in commercial banks, savings institutions, and credit unions and further is concentrated in certain larger borrowing relationships. The concentration of the Bank’s advances to its 10 largest borrowers was $37,117 and $71,769 as of September 30, 2020 and December 31, 2019, respectively. This concentration represented 65.2 percent and 74.4 percent of total advances outstanding as of September 30, 2020 and December 31, 2019, respectively. Based on the collateral pledged as security for advances, the Bank’s credit analysis of members’ financial condition, and prior repayment history, no allowance for credit losses on advances was deemed necessary by the Bank as of September 30, 2020 and December 31, 2019. No advance was past due as of September 30, 2020 and December 31, 2019.
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Mortgage Loans Held for Portfolio |
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Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage Loans Held for Portfolio | Mortgage Loans Held for Portfolio The following table presents information on mortgage loans held for portfolio by contractual maturity at the time of purchase.
____________ (1) Exclude accrued interest receivable of $1 as of September 30, 2020 and December 31, 2019. The following table presents the unpaid principal balance of mortgage loans held for portfolio by collateral or guarantee type.
The following table presents the activity in the allowance for credit losses related to conventional residential mortgage loans.
Payment status is a key credit quality indicator for conventional mortgage loans and allows the Bank to monitor the migration of past due loans. Other delinquency statistics include, non-accrual loans and loans in process of foreclosure. The following tables present the payment status for conventional mortgage loans.
____________ (1) Amortized cost excludes accrued interest receivable of $1 as of September 30, 2020.
____________ (1) Recorded investment includes accrued interest receivable of $1 as of December 31, 2019. The following tables present the other delinquency statistics for all mortgage loans.
____________ (1) Includes mortgage loans where the decision of foreclosure or similar alternative, such as a pursuit of deed-in-lieu, has been reported. (2) Mortgage loans that are 90 days or more past due or in the process of foreclosure expressed as a percentage of the total mortgage loan portfolio segment. (3) Mortgage loans insured or guaranteed by the Federal Housing Administration or the Department of Veterans Affairs. (4) Represents mortgage loans with contractual principal or interest payments 90 days or more past due and not accruing interest. As of September 30, 2020, 0.64 percent of these conventional mortgage loans on non-accrual status had an associated allowance for credit losses.
____________ (1) Includes mortgage loans where the decision of foreclosure or similar alternative, such as a pursuit of deed-in-lieu, has been reported. (2) Mortgage loans that are 90 days or more past due or in the process of foreclosure expressed as a percentage of the total mortgage loan portfolio segment. (3) Mortgage loans insured or guaranteed by the Federal Housing Administration or the Department of Veterans Affairs. (4) Represents mortgage loans with contractual principal or interest payments 90 days or more past due and not accruing interest. Section 4013 of the CARES Act provides temporary relief from the accounting and reporting requirements for TDRs for certain loan modifications related to COVID-19. Specifically, the CARES Act provides that a qualifying financial institution may elect to suspend (1) the requirements under U.S. GAAP for certain loan modifications that would otherwise be categorized as a TDR, and (2) any determination that such loan modifications would be considered a TDR, including the related impairment for accounting purposes. Section 4013 of the CARES Act applies to any modification related to an economic hardship as a result of the COVID-19 pandemic, including an interest rate modification, a repayment plan, or any similar arrangement that defers or delays payment of principal or interest, that occurs during the period beginning on March 1, 2020 and ending on the earlier of December 31, 2020 or the date that is 60 days after the declaration of the national emergency related to the COVID-19 pandemic ends for a loan that was not more than 30 days past due as of December 31, 2019. The Bank has elected to suspend TDR accounting for eligible modifications under Section 4013 of the CARES Act. The Bank had none of these modifications outstanding as of September 30, 2020. The Bank’s servicers may grant a forbearance period to borrowers who have requested forbearance based on COVID-19 related difficulties regardless of the status of the loan at the time of the request. The Bank continues to apply its accounting policy for past due loans and charge-offs to loans during the forbearance period unless there is a legal modification made to update the terms of the mortgage loan contract. The accrual status for loans under forbearance will be driven by the past due status of the loan. As of September 30, 2020, there were $18 in unpaid principal balance of conventional residential mortgage loans in a forbearance plan as a result of COVID-19, representing 7.57 percent of the Bank’s mortgage loans held for portfolio. Of the conventional residential mortgage loans in a forbearance plan, $5 in unpaid principal balance of these conventional loans had a current payment status, $2 were 30 to 59 days past due, $1 were 60 to 89 days past due, and $10 were 90 days or more past due and in nonaccrual payment status.
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Consolidated Obligations |
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Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consolidated Obligations | Consolidated Obligations Consolidated obligations, consisting of consolidated obligation bonds and discount notes, are the joint and several obligations of the 11 Federal Home Loan Banks (FHLBanks) and are backed only by the financial resources of the FHLBanks. The Federal Home Loan Banks Office of Finance (Office of Finance) tracks the amount of debt issued on behalf of each FHLBank. In addition, the Bank separately tracks its specific portion of consolidated obligations for which it is the primary obligor and records it as a liability. Interest-rate Payment Terms. The following table presents the Bank’s consolidated obligation bonds by interest-rate payment type.
Redemption Terms. The following table presents the Bank’s participation in consolidated obligation bonds outstanding by year of contractual maturity.
The following table presents the Bank’s consolidated obligation bonds outstanding by call feature.
The following table presents the Bank’s consolidated obligation bonds outstanding, by year of contractual maturity, or for callable consolidated obligation bonds, by next call date.
Consolidated Obligation Discount Notes. Consolidated obligation discount notes are issued to raise short-term funds and have original contractual maturities of up to one year. These consolidated obligation discount notes are issued at less than their face amounts and redeemed at par value when they mature. The following table presents the Bank’s participation in consolidated obligation discount notes.
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Capital and Mandatorily Redeemable Capital Stock |
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Banking Regulation, Total Capital [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital and Mandatorily Redeemable Capital Stock | Capital and Mandatorily Redeemable Capital Stock Partial recovery of prior capital distribution to Financing Corporation. The Competitive Equality Banking Act of 1987 was enacted in August 1987, which, among other things, provided for the recapitalization of the Federal Savings and Loan Insurance Corporation through a newly-chartered entity, the Financing Corporation (FICO). The capitalization of FICO was provided by capital distributions from the FHLBanks to FICO in exchange for FICO nonvoting capital stock. Capital distributions were made by the FHLBanks in 1987, 1988, and 1989 that aggregated to $680. Upon passage of Financial Institutions Reform, Recovery and Enforcement Act of 1989, the FHLBanks’ previous investment in capital stock of FICO was determined to be non-redeemable and the FHLBanks charged-off their prior capital distributions to FICO directly against retained earnings. Upon the dissolution of FICO which ultimately concluded in July 2020, FICO determined that excess funds aggregating to $200 were available for distribution to its stockholders, the FHLBanks. Specifically, the Bank’s partial recovery of prior capital distribution was $29 which was determined based on its share of the $680 originally contributed. This distribution of funds was received by the Bank in June 2020. The FHLBanks treated the receipt of these funds as a return of the FHLBanks’ investment in FICO capital stock, and therefore as a partial recovery of the prior capital distributions made by the FHLBanks to FICO in 1987, 1988, and 1989. These funds have been credited to unrestricted retained earnings. Capital. The following table presents the Bank’s compliance with the Federal Housing Finance Agency’s (Finance Agency) regulatory capital rules and requirements.
____________ (1) Total regulatory capital does not include accumulated other comprehensive income, but does include mandatorily redeemable capital stock. The Bank declares and pays any dividends only after net income is calculated for the preceding quarter. The following table presents the Bank’s declared and paid quarterly cash dividends in 2020 and 2019.
Mandatorily Redeemable Capital Stock. The following table presents the activity in mandatorily redeemable capital stock.
The following table presents the amount of mandatorily redeemable capital stock by year of redemption. The year of redemption in the table is the end of the five-year redemption period, or with respect to activity-based stock, the later of the expiration of the five-year redemption period or the activity’s maturity date.
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Accumulated Other Comprehensive Income |
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Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive (Loss) Income The following table presents the components comprising accumulated other comprehensive (loss) income.
____________ (1) Included in Noninterest expense - Other on the Statements of Income.
____________ (1) Included in Noninterest expense - Other on the Statements of Income.
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Derivatives and Hedging Activities |
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Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivatives and Hedging Activities | Derivatives and Hedging Activities Nature of Business Activity The Bank is exposed to interest-rate risk primarily from the effect of interest-rate changes on its interest-earning assets and on its interest-bearing liabilities that finance these assets. To mitigate the risk of loss, the Bank has established policies and procedures, which include guidelines on the amount of exposure to interest-rate changes that it is willing to accept. In addition, the Bank monitors the risk to its interest income, net interest margin, and average maturity of its interest-earning assets and funding sources. The goal of the Bank’s interest-rate risk management strategies is not to eliminate interest-rate risk, but to manage it within appropriate limits. The Bank enters into derivatives to manage the interest-rate risk exposure that is inherent in its otherwise unhedged assets and funding sources, to achieve the Bank’s risk management objectives, and to act as an intermediary between its members and counterparties. The Bank transacts most of its derivatives with large banks and major broker-dealers. Some of these banks and broker-dealers or their affiliates buy, sell, and distribute consolidated obligations. The Bank’s over-the-counter derivatives transactions may either be (1) uncleared derivatives, which are executed bilaterally with a counterparty; or (2) cleared derivatives, which are cleared through a Futures Commission Merchant (clearing agent) with a Derivatives Clearing Organization (Clearinghouse). Once a derivatives transaction has been accepted for clearing by a Clearinghouse, the derivatives transaction is novated, and the executing counterparty is replaced with the Clearinghouse as the counterparty. The Bank is not a derivatives dealer and does not trade derivatives for short-term profit. For additional information on the Bank’s derivatives and hedging activities, see Note 17—Derivatives and Hedging Activities to the 2019 audited financial statements contained in the Bank’s Form 10-K. Financial Statement Effect and Additional Financial Information Derivative Notional Amounts. The notional amount of derivatives serves as a factor in determining periodic interest payments or cash flows received and paid. However, the notional amount of derivatives represents neither the actual amounts exchanged nor the overall exposure of the Bank to credit and market risk; the overall risk is much smaller. The risks of derivatives can be measured meaningfully on a portfolio basis that takes into account the counterparties, the types of derivatives, the items being hedged, and any offsets between the derivatives and the items being hedged. The following table presents the notional amount, fair value of derivative instruments, and total derivative assets and liabilities. Total derivative assets and liabilities include the effect of netting adjustments and cash collateral. For purposes of this disclosure, the derivative values include the fair value of derivatives and the related accrued interest.
___________ (1) Includes variation margin for daily settled contracts of $1,326 and $503 as of September 30, 2020 and December 31, 2019, respectively. (2) Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions, and also cash collateral and related accrued interest held or placed with the same clearing agents and/or counterparty. Cash collateral posted, including accrued interest was $984 and $543 as of September 30, 2020 and December 31, 2019, respectively. Cash collateral received, including accrued interest was $0 and $25 as of September 30, 2020 and December 31, 2019, respectively. The following tables present the net gains (losses) on fair value hedging relationships.
____________ (1) Represents interest income/expense on derivatives in qualifying fair-value hedging relationships. Net interest settlements on derivatives that are not in qualifying fair-value hedging relationships are reported in other income. (2) Excludes the interest income/expense of the respective hedged items.
____________ (1) Represents interest income/expense on derivatives in qualifying fair-value hedging relationships. Net interest settlements on derivatives that are not in qualifying fair-value hedging relationships are reported in other income. (2) Excludes the interest income/expense of the respective hedged items. The following table presents the cumulative basis adjustments on hedged items designated as fair value hedges and the related amortized cost of the hedged items.
___________ (1) Includes only the portion of amortized cost representing the hedged items in fair value hedging relationships. The following table presents net losses related to derivatives and hedging activities recorded in noninterest income on the Statements of Income.
Managing Credit Risk on Derivatives The Bank is subject to credit risk to its derivative transactions due to the risk of nonperformance by counterparties and manages this risk through credit analysis, collateral requirements, and adherence to the requirements set forth in its policies, U.S. Commodity Futures Trading Commission regulations, and Finance Agency regulations. For uncleared derivatives, the degree of credit risk depends on the extent to which master netting arrangements are included in such contracts to mitigate the risk. The Bank requires collateral agreements with collateral delivery thresholds on all uncleared derivatives. Additionally, collateral related to derivatives with member institutions includes collateral assigned to the Bank, as evidenced by a written security agreement, and held by the member institution for the benefit of the Bank. Certain of the Bank’s uncleared derivative instruments contain provisions that require the Bank to post additional collateral with its counterparties if there is deterioration in the Bank’s credit rating. If the Bank’s credit rating is lowered by a NRSRO, the Bank may be required to deliver additional collateral on uncleared derivative instruments in net liability positions. The aggregate fair value of all uncleared derivative instruments with credit-risk-related contingent features that were in a net liability position (before cash collateral and related accrued interest) as of September 30, 2020 was $9, for which the Bank was not required to post collateral as of September 30, 2020. If the Bank’s credit ratings had been lowered from its current rating to the next lower rating, the Bank would have been required to deliver $4 of collateral at fair value to its uncleared derivative counterparties as of September 30, 2020. For cleared derivatives, the Clearinghouse is the Bank’s counterparty. The Clearinghouse notifies the clearing agent of the required initial and variation margin, and the clearing agent notifies the Bank. The Bank utilizes two Clearinghouses for all cleared derivative transactions, CME Clearing and LCH Ltd. At both Clearinghouses, variation margin is characterized as daily settlement payments, and initial margin is considered cash collateral. Because the Bank is required to post initial and variation margin through the clearing agent to the Clearinghouse, it exposes the Bank to institutional credit risk if the clearing agent or the Clearinghouse fails to meet its obligations. The use of cleared derivatives is intended to mitigate credit risk exposure because a central counterparty is substituted for individual counterparties, and collateral/payments is posted daily through a clearing agent for changes in the fair value of cleared derivatives. The Bank has analyzed the enforceability of offsetting rights incorporated in its cleared derivative transactions and determined that the exercise of those offsetting rights by a non-defaulting party under these transactions should be upheld under applicable law upon an event of default, including a bankruptcy, insolvency, or similar proceeding involving the Clearinghouse or the Bank’s clearing agent, or both. Based on this analysis, the Bank presents a net derivative receivable or payable for all of its transactions through a particular clearing agent with a particular Clearinghouse. The Bank presents derivative instruments and the related cash collateral that is received or pledged, plus the associated accrued interest, on a net basis by clearing agent and/or by counterparty when it has met the netting requirements. The following table presents the fair value of derivative instruments meeting or not meeting netting requirements, including the related collateral received from or pledged to counterparties.
____________ (1) The Bank had net credit exposure of $36 and $6 as of September 30, 2020 and December 31, 2019, due to instances where the Bank’s pledged collateral to a counterparty exceeded the Bank’s net derivative liability position.
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated Fair Values | Estimated Fair ValuesThe Bank records trading securities, available-for-sale securities, derivative assets and liabilities, and grantor trust assets (publicly-traded mutual funds) at estimated fair value on a recurring basis. Fair value is defined under GAAP as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The transaction to sell the asset or transfer the liability is a hypothetical transaction at the measurement date, considered from the perspective of a market participant that holds the asset or owes the liability. In general, the transaction price will equal the exit price and therefore, represents the fair value of the asset or liability at initial recognition. In determining whether a transaction price represents the fair value of the asset or liability at initial recognition, each reporting entity is required to consider factors specific to the transaction, the asset or liability, the principal or most advantageous market for the asset or liability, and market participants with whom the entity would transact in the market. A fair value hierarchy is used to prioritize the inputs of valuation techniques used to measure fair value. The inputs are evaluated, and an overall level for the fair value measurement is determined. This overall level is an indication of how market-observable the fair value measurement is and defines the level of disclosure. In order to determine the fair value or the exit price, entities must determine the unit of account, highest and best use, principal market, and market participants. These determinations allow the reporting entity to define the inputs for fair value and level of hierarchy. Outlined below is the application of the “fair value hierarchy” to the Bank’s financial assets and liabilities that are carried at fair value or disclosed in the notes to the financial statements. Level 1 - inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. An active market for the asset or liability is a market in which the transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. The Bank carried grantor trust assets at fair value hierarchy Level 1 as of September 30, 2020 and December 31, 2019. Level 2 - inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. The Bank carried trading securities and derivatives at fair value hierarchy Level 2 as of September 30, 2020 and December 31, 2019. Level 3 - inputs to the valuation methodology are unobservable and significant to the fair value measurement. Unobservable inputs are supported by limited market activity and reflect the entity’s own assumptions. The Bank carried available-for-sale securities at fair value hierarchy Level 3 as of December 31, 2019. The Bank utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. For financial instruments carried at fair value, the Bank reviews the fair value hierarchy classification of financial assets and liabilities on a quarterly basis. Changes in the observability of the valuation attributes may result in a reclassification of certain financial assets or liabilities within the fair value hierarchy. Such reclassifications are reported as transfers in/out at fair value as of the beginning of the quarter in which the changes occur. There were no such transfers during the periods presented. Estimated Fair Value Measurements on a Recurring Basis. The following tables present, for each fair value hierarchy level, the Bank’s financial assets and liabilities that are measured at fair value on a recurring basis on its Statements of Condition.
____________ (1) Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions, and also cash collateral and related accrued interest held or placed with the same clearing agents and/or counterparty.
____________ (1)Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions, and also cash collateral and related accrued interest held or placed with the same clearing agents and/or counterparty. The following table presents a reconciliation of available-for-sale securities that are measured at fair value on a recurring basis using significant unobservable inputs (Level 3).
____________ (1) Related to available-for-sale securities held at period end. Described below are the Bank’s fair value measurement methodologies for financial assets and liabilities that are measured at fair value on a recurring or nonrecurring basis on the Statements of Condition and categorized within Level 2 and Level 3 of the fair value hierarchy. Investment securities. The Bank obtains prices from multiple designated third-party pricing vendors, when available, to estimate the fair value of its investment securities. The pricing vendors use various proprietary models to price investment securities. The inputs to those models are derived from various sources including, but not limited to, the following: benchmark yields, reported trades, dealer estimates, issuer spreads, benchmark securities, bids, offers, and other market-related data. Since many investment securities do not trade on a daily basis, the pricing vendors use available information as applicable, such as benchmark curves, benchmarking of like securities, sector groupings, and matrix pricing to determine the prices for individual securities. Each pricing vendor has an established challenge process in place for all investment securities valuations, which facilitates resolution of potentially erroneous prices identified by the Bank. The Bank periodically conducts reviews of its pricing vendors to confirm and further augment its understanding of the vendors’ pricing processes, methodologies, and control procedures for U.S. agency MBS. The Bank’s valuation technique for estimating the fair value of its investment securities first requires the establishment of a “median” price for each security. All prices that are within a specified tolerance threshold of the median price are included in the “cluster” of prices that are averaged to compute a “resultant” price. All prices that are outside the threshold (“outliers”) are subject to further analysis (including, but not limited to, comparison to prices provided by an additional third-party valuation service, prices for similar securities, and/or non-binding dealer estimates) to determine if an outlier is a better estimate of fair value. If an outlier (or some other price identified in the analysis) is determined to be a better estimate of fair value, then the outlier (or the other price as appropriate) is used as the final price rather than the resultant price. Alternatively, if the analysis does not provide evidence that an outlier is more representative of the fair value, and the resultant price is the best estimate, then the resultant price is used as the final price. In all cases, the final price is used to determine the fair value of the security. If all prices received for a security are outside the tolerance threshold level of the median price, then there is no resultant price, and the final price is determined by an evaluation of all outlier prices as described above. Multiple third-party vendor prices were received for a majority of the Bank’s investment securities holdings, and the final prices for those securities were computed by averaging the prices received as of September 30, 2020 and December 31, 2019. Based on the Bank’s review of the pricing methods and controls employed by the third-party pricing vendors and the relative lack of dispersion among the vendor prices (or the Bank’s additional analysis in those instances in which there were outliers or significant yield variances), the Bank believes that its final prices are representative of the prices that would have been received if the assets had been sold at the measurement date (i.e., exit prices) and further, that the fair value measurements are classified appropriately in the fair value hierarchy. Based on the lack of significant market activity for private-label MBS, the fair value measurement for those securities were classified as Level 3 within the fair value hierarchy as of December 31, 2019. Derivative assets and liabilities. The Bank calculates the fair values of interest-rate related derivatives using a discounted cash flow analysis which utilizes market-observable inputs. The inputs for interest-rate related derivatives uses the Overnight Index Swap curve for collateralized derivatives. Derivative instruments are transacted primarily in the institutional dealer market and priced with observable market assumptions at a mid-market valuation point. The Bank does not provide a credit valuation adjustment based on aggregate exposure by derivative counterparty when measuring the fair value of its derivatives. This is because the collateral provisions pertaining to the Bank’s derivatives obviate the need to provide such a credit valuation adjustment. The fair values of the Bank’s derivatives take into consideration the effects of legally enforceable master netting agreements, where applicable, that allow the Bank to settle positive and negative positions and offset cash collateral with the same counterparty on a net basis. The Bank and each uncleared derivative counterparty have collateral thresholds that take into account both the Bank’s and the counterparty’s credit ratings. As a result of these practices and agreements, the Bank has concluded that the impact of the credit differential between the Bank and its derivative counterparties was mitigated to an immaterial level, and no further adjustments were deemed necessary to the recorded fair values of derivative assets and liabilities on the Statements of Condition as of September 30, 2020 and December 31, 2019. The following estimated fair value amounts have been determined by the Bank using available market information and the Bank’s best judgment of appropriate valuation methods. These estimates are based on pertinent information available to the Bank as of September 30, 2020 and December 31, 2019. Although the Bank uses its best judgment in estimating the fair values of these financial instruments, there are inherent limitations in any estimation technique or valuation methodology. For example, because an active secondary market does not exist for a portion of the Bank’s financial instruments, in certain cases, fair values are not subject to precise quantification or verification and may change as economic and market factors and evaluation of those factors change. Therefore, these estimated fair values are not necessarily indicative of the amounts that would be realized in current market transactions although they do reflect the Bank’s judgment of how a market participant would estimate the fair value. The fair value tables presented below do not represent an estimate of the overall fair value of the Bank as a going concern, which would take into account future business opportunities and the net profitability of assets versus liabilities. The following tables present the carrying values and estimated fair values of the Bank’s financial instruments.
____________ (1) Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions, and also cash collateral and related accrued interest held or placed with the same clearing agents and/or counterparty.
____________ (1)Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions, and also cash collateral and related accrued interest held or placed with the same clearing agents and/or counterparty.
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Commitments and Contingencies |
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Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies | Commitments and Contingencies Consolidated obligations are backed only by the financial resources of the FHLBanks. At any time, the Finance Agency may require any FHLBank to make principal or interest payments due on any consolidated obligation, whether or not the primary obligor FHLBank has defaulted on the payment of that obligation. No FHLBank has ever had to assume or pay the consolidated obligation of another FHLBank. The par value of the other FHLBanks’ outstanding consolidated obligations for which the Bank is jointly and severally liable was $715,531 and $885,114 as of September 30, 2020 and December 31, 2019, respectively, exclusive of the Bank’s own outstanding consolidated obligations. None of the other FHLBanks defaulted on their consolidated obligations, the Finance Agency was not required to allocate any obligation among the FHLBanks, and no amount of the joint and several obligation was fixed as of September 30, 2020 and December 31, 2019. Accordingly, the Bank has not recognized a liability for its joint and several obligation related to the other FHLBanks’ consolidated obligations as of September 30, 2020 and December 31, 2019. The following table presents the Bank’s outstanding commitments, which represent off-balance sheet obligations.
____________ (1)“Expire Within One Year” includes 14 standby letters of credit for a total of $19 and 13 standby letters of credit for a total of $36 as of September 30, 2020 and December 31, 2019, respectively, which have no stated maturity date and are subject to renewal on an annual basis. (2)Expiration is based on settlement period rather than underlying contractual maturity of consolidated obligations. The carrying value of the guarantees related to standby letters of credit is recorded in “Other liabilities” on the Statements of Condition and amounted to $34 and $117 as of September 30, 2020 and December 31, 2019, respectively. The Bank is subject to legal proceedings arising in the normal course of business. After consultation with legal counsel, management does not anticipate, as of the date of the financial statements, that the ultimate liability, if any, arising out of these matters will have a material effect on the Bank’s financial condition or results of operations.
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Transactions With Shareholders |
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Transactions With Shareholders [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transactions With Shareholders | Transactions with Shareholders The Bank is a cooperative whose member institutions own substantially all of the capital stock of the Bank. Former members and certain non-members, which own the Bank’s capital stock as a result of a merger or acquisition of a member of the Bank, own the remaining capital stock to support business transactions still carried on the Bank’s Statements of Condition. All holders of the Bank’s capital stock receive dividends on their investments, to the extent declared by the Bank’s board of directors. All advances are issued to members and eligible housing associates under the Federal Home Loan Bank Act of 1932, as amended (FHLBank Act), and mortgage loans held for portfolio were purchased from members. The Bank also maintains demand deposit accounts primarily to facilitate settlement activities that are related directly to advances and mortgage loans purchased. Transactions with any member that has an officer or director who is also a director of the Bank are subject to the same Bank policies as transactions with other members. Related Parties. In accordance with GAAP, financial statements are required to disclose material related-party transactions other than compensation arrangements, expense allowances, or other similar items that occur in the ordinary course of business. Under GAAP, related parties include owners of more than 10 percent of the voting interests of the Bank. Due to limits on member voting rights under the FHLBank Act and Finance Agency regulations, no member owned more than 10 percent of the total voting interests. Therefore, the Bank had no such related party transactions required to be disclosed for the periods presented. Shareholder Concentrations. The Bank considers shareholder concentration as members or non-members with regulatory capital stock outstanding in excess of 10 percent of the Bank’s total regulatory capital stock. There were no shareholders whose regulatory capital stock exceeded 10 percent of the total regulatory capital stock outstanding as of September 30, 2020. The following table presents transactions with shareholders whose holdings of regulatory capital stock exceeded 10 percent of total regulatory capital stock outstanding as of December 31, 2019.
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Subsequent Events |
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Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | Subsequent EventsOn October 29, 2020, the Bank's board of directors approved a cash dividend for the third quarter of 2020. The Bank paid the third quarter 2020 dividend on November 3, 2020 in the amount of $35. |
Basis of Presentation (Policies) |
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Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Basis of Accounting [Text Block] | The accompanying unaudited interim financial statements of the Federal Home Loan Bank of Atlanta (Bank) have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). To prepare the financial statements in conformity with GAAP, management must make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and income and expenses during the reporting period. Actual results could be different from these estimates. The foregoing interim financial statements are unaudited; however, in the opinion of management, all adjustments, consisting only of normal recurring adjustments necessary for a fair statement of the results for the interim periods, have been included. The results of operations for interim periods are not necessarily indicative of results to be expected for the year ending 2020, or for other interim periods. The unaudited interim financial statements should be read in conjunction with the audited financial statements for the year ended December 31, 2019, which are contained in the Bank’s 2019 Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on March 5, 2020 (Form 10-K). The Bank has certain financial instruments, including derivative instruments and securities purchased under agreements to resell, that are subject to offset under master netting arrangements or by operation of law. Additional information regarding derivative instruments is provided in Note 11—Derivatives and Hedging Activities to the Bank’s interim financial statements. The Bank does not have any offsetting liabilities related to its securities purchased under agreements to resell for the periods presented. Based on the fair value of the related securities held as collateral, the securities purchased under agreements to resell were fully collateralized for the periods presented. Refer to Note 2—Summary of Significant Accounting Policies to the Bank’s 2019 audited financial statements for a description of all the Bank’s significant accounting policies. There have been no changes to these policies as of September 30, 2020, except for policy updates related to new accounting guidance pertaining to the measurement of credit losses on financial instruments which is described below.
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Credit Loss, Financial Instrument [Policy Text Block] | Beginning on January 1, 2020, the Bank adopted new accounting guidance pertaining to the measurement of credit losses on financial instruments that requires a financial asset or group of financial assets measured at amortized cost to be presented at the net amount expected to be collected. The new guidance also requires credit losses relating to these financial instruments as well as available-for-sale securities to be recorded through the allowance for credit losses. Key changes as compared to prior accounting guidance are detailed below. Consistent with the modified retrospective method of adoption, the prior period has not been revised to conform to the new basis of accounting. Refer to Note 2—Summary of Significant Accounting Policies to the Bank’s 2019 audited financial statements for information on the prior accounting treatment. Interest-bearing Deposits, Securities Purchased under Agreements to resell, and Federal Funds Sold. Interest-bearing deposits, securities purchased under agreements to resell, and federal funds sold provide short-term liquidity and are carried at amortized cost. Accrued interest receivable is recorded separately on the Statements of Condition. These investments are generally transacted with counterparties that have received a credit rating of triple-B or greater (investment grade) by a nationally recognized statistical rating organization (NRSRO) including the following: Standard and Poor’s (S&P), Moody’s Investors Service (Moody’s), and Fitch Ratings. All of these investments were with counterparties rated investment grade as of September 30, 2020. These investments are evaluated quarterly for expected credit losses. If applicable, an allowance for credit losses is recorded with a corresponding credit loss expense (or reversal of credit loss expense). The Bank uses the collateral maintenance provision practical expedient to evaluate potential credit losses related to securities purchased under agreements to resell. Consequently, a credit loss would be recognized if there is a collateral shortfall which the Bank does not believe the counterparty will replenish in accordance with its contractual terms. The credit loss would be limited to the difference between the fair value of the collateral and the investment’s amortized cost. Securities purchased under agreements to resell are short-term and are structured such that they are evaluated regularly to determine if the market value of the underlying securities decreases below the market value required as collateral (i.e. subject to collateral maintenance provisions). If so, the counterparty must place an equivalent amount of additional securities as collateral or remit an equivalent amount of cash, generally by the next business day. Based upon the collateral held as security and collateral maintenance provisions with its counterparties, the Bank determined that no allowance for credit losses was needed for its securities purchased under agreements to resell as of September 30, 2020 and December 31, 2019. The carrying value of securities purchased under agreements to resell excludes accrued interest receivable that was not material as of September 30, 2020 and December 31, 2019. Federal funds sold are unsecured loans that are generally transacted on an overnight term. All investments in interest-bearing deposits and federal funds sold were repaid or expected to be repaid according to the contractual terms as of September 30, 2020 and December 31, 2019. No allowance for credit losses was recorded for these assets as of September 30, 2020 and December 31, 2019. The carrying values of interest-bearing deposits excludes accrued interest receivable that was not material as of September 30, 2020 and December 31, 2019. The carrying values of federal funds sold excludes accrued interest receivable that was not material as of September 30, 2020 and $10 as of December 31, 2019. Held-to-maturity Securities. Securities that the Bank has both the ability and intent to hold to maturity are classified as held-to-maturity and carried at amortized cost, which is original cost net of periodic principal repayments and amortization of premiums and accretion of discounts. Accrued interest receivable is recorded separately on the Statements of Condition. Held-to-maturity securities are evaluated quarterly for expected credit losses on a pool basis unless an individual assessment is deemed necessary because the securities do not possess similar risk characteristics. If applicable, an allowance for credit losses is recorded with a corresponding credit loss expense (or reversal of credit loss expense). The allowance for credit losses excludes uncollectible accrued interest receivable, which is measured separately. Prior to January 1, 2020, credit losses were recorded as a direct write-down of the held-to-maturity security carrying value. The Bank’s held-to-maturity securities consist of U.S. agency obligations, government-sponsored enterprise debt obligations, state or local housing agency debt obligations, and MBS issued by the Government National Mortgage Association (Ginnie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and the Federal National Mortgage Association (Fannie Mae) that are backed by single-family or multifamily mortgage loans. The Bank only purchase securities considered investment quality. All of these investments were rated double-A, or above, by a NRSRO as of September 30, 2020, based on the lowest long-term credit rating for each security. The Bank evaluates its held-to-maturity securities for impairment on a collective, or pooled basis unless an individual assessment is deemed necessary because the securities do not possess similar risk characteristics. The Bank has not established an allowance for credit loss on any of its held-to-maturity securities as of September 30, 2020 because the securities: (1) were all highly-rated and/or had short remaining terms to maturity, (2) had not experienced, nor did the Bank expect, any payment default on the instruments, and (3) in the case of U.S., government-sponsored enterprises, or other agency obligations, carry an implicit or explicit government guarantee such that the Bank considers the risk of nonpayment to be zero. Advances. Advances are carried at amortized cost, which is original cost net of periodic principal repayments and amortization of premiums and accretion of discounts (including discounts related to the Affordable Housing Program and Economic Development and Growth Enhancement Program), net deferred fees or costs, and fair value hedge adjustments. Accrued interest receivable is recorded separately on the Statements of Condition. The advances are evaluated quarterly for expected credit losses. If applicable, an allowance for credit losses is recorded with a corresponding credit loss expense (or reversal of credit loss expense). Refer to Note 2—Summary of Significant Accounting Policies to the Bank’s 2019 audited financial statements for details on the allowance methodologies related to advances. Mortgage Loans Held for Portfolio. Mortgage loans held for portfolio are recorded at amortized cost, which is original cost, net of periodic principal repayments and amortization of premiums and accretion of discounts, fair value hedge adjustments on loans initially classified as mortgage loan commitments, and direct write-downs. Accrued interest receivable is recorded separately on the Statements of Condition. The Bank performs at least quarterly an assessment of its mortgage loans held for portfolio to estimate expected credit losses. If applicable, an allowance for credit losses is recorded with a corresponding credit loss expense (or reversal of credit loss expense). The Bank measures expected credit losses on mortgage loans on a collective basis, pooling loans with similar risk characteristics. If a mortgage loan no longer shares risk characteristics with other loans, it is removed from the pool and evaluated for expected credit losses on an individual basis. When developing the allowance for credit losses, the Bank measures the estimated loss over the remaining life of a mortgage loan, which also considers how the Bank’s credit enhancements mitigate credit losses. If a loan was purchased at a discount, the discount does not offset the allowance for credit losses. The allowance excludes uncollectible accrued interest receivable, as the Bank writes off accrued interest receivable by reversing interest income if a mortgage loan is placed on nonaccrual status. Refer to Note 2—Summary of Significant Accounting Policies to the Bank’s 2019 audited financial statements for details on the allowance methodologies related to mortgage loans. Off-Balance Sheet Credit Exposures. The Bank evaluates its off-balance sheet credit exposure on a quarterly basis for expected credit losses. If deemed necessary, an allowance for expected credit losses on these off-balance sheet exposures is recorded in other liabilities with a corresponding credit loss expense (or reversal of credit loss expense). The Bank monitors the creditworthiness of its standby letters of credit based on an evaluation of the member. In addition, standby letters of credit are fully collateralized from the time of issuance. The Bank has established parameters for the measurement, review, classification, and monitoring of credit risk related to these standby letters of credit that result in an internal credit rating, which focuses primarily on an institution’s overall financial health and takes into account the quality of assets, earnings, and capital position. In general, borrowers categorized into the highest risk rating category have more restrictions on the types of collateral that they may use to secure standby letters of credit, may be required to maintain higher collateral maintenance levels and deliver loan collateral, and may face more stringent collateral reporting requirements. Based on the Bank’s credit analyses and collateral requirements, the Bank does not deem it necessary to record any additional liability on the Statements of Condition for these commitments as of September 30, 2020. Troubled Debt Restructuring Relief. On March 27, 2020, the Coronavirus, Aid, Relief, and Economic Security Act (the CARES Act) providing optional, temporary relief from accounting for certain loan modifications as troubled debt restructurings (TDRs) was signed into law. Under the CARES Act, TDR relief is available to banks for loan modifications related to the adverse effects of Coronavirus Disease 2019 (COVID-19) (COVID-related modifications) granted to borrowers that are current as of December 31, 2019. TDR relief applies to COVID-related modifications made from March 1, 2020, until the earlier of December 31, 2020, or 60 days following the termination of the national emergency declared by the President of the United States. The Bank has elected to apply the TDR relief provided by the CARES Act. As such, all COVID-related modifications meeting the provisions of the CARES Act will be excluded from TDR classification and accounting. COVID-related modifications that do not meet the provisions of the CARES Act will continue to be assessed for TDR classification. Refer to Note 7—Mortgage Loans Held for Portfolio to the Bank’s interim financial statements for additional information
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New Accounting Pronouncements, Policy [Policy Text Block] | The following tables provide a summary of accounting guidance issued by the Financial Accounting Standards Board that was adopted, and recently issued guidance not yet adopted, which may impact the Bank’s financial statements. Recently Adopted Accounting Guidance
Recently Issued Accounting Guidance Not Yet Adopted
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Trading Securities (Tables) |
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Schedule of Net Losses on Trading Securities | The following table presents net gains on trading securities.
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Schedule of Major Trading Securities | Major Security Types. The following table presents trading securities.
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Available-for-sale Securities (Tables) |
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Available-for-Sale Securities Reconciliation | Major Security Type. The following table presents information on private-label residential MBS that are classified as available-for-sale.
____________ (1) Amounts represent the non-credit portion of an other-than-temporary impairment during the life of the security.
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Available-for-Sale Securities with Unrealized Losses | The following table presents private-label residential MBS that are classified as available-for-sale with unrealized losses. The unrealized losses are aggregated by the length of time that the individual securities have been in a continuous unrealized loss position.
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Summary of Available-for-Sale MBS Issued by Members or Affiliates of Members | The following table presents private-label residential MBS that are classified as available-for-sale and issued by members or affiliates of members, all of which have been issued by Bank of America Corporation, Charlotte, NC.
____________ (1) Amounts represent the non-credit portion of an other-than-temporary impairment during the life of the security.
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Held-to-maturity Securities (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Held-to-maturity Securities [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Held-to-Maturity Securities | Major Security Types. The following table presents held-to-maturity securities.
____________ (1) Excludes accrued interest receivable of $11 and $27 as of September 30, 2020 and December 31, 2019, respectively.
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Amortized Cost and Estimated Fair Value of Held-to-Maturity Securities by Contractual Maturity | Redemption Terms. The following table presents the amortized cost and estimated fair value of held-to-maturity securities by contractual maturity. MBS are not presented by contractual maturity because their actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees.
____________ (1) Excludes accrued interest receivable of $11 and $27 as of September 30, 2020 and December 31, 2019, respectively.
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Held-to-maturity Securities [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Held-to-maturity Securities [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Held-to-Maturity MBS Issued by Members or Affiliates of Members | The following table presents private-label residential MBS that are classified as held-to-maturity and issued by members or affiliates of members, all of which have been issued by Bank of America Corporation, Charlotte, NC.
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Advances (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Advances [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Federal Home Loan Bank, Advances | Redemption Terms. The following table presents the Bank’s advances outstanding by year of contractual maturity.
___________ (1) The Affordable Housing Program (2) The Economic Development and Growth Enhancement Program (3) Carrying amounts exclude accrued interest receivable of $84 and $214 as of September 30, 2020 and December 31, 2019, respectively. The following table presents advances by year of contractual maturity or, for convertible advances, next conversion date.
Interest-rate Payment Terms. The following table presents interest-rate payment terms for advances.
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Mortgage Loans Held for Portfolio (Tables) |
9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage Loans Held for Portfolio | The following table presents information on mortgage loans held for portfolio by contractual maturity at the time of purchase.
____________ (1) Exclude accrued interest receivable of $1 as of September 30, 2020 and December 31, 2019. The following table presents the unpaid principal balance of mortgage loans held for portfolio by collateral or guarantee type.
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Allowance for Credit Losses on Financing Receivables | The following table presents the activity in the allowance for credit losses related to conventional residential mortgage loans.
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Past Due Financing Receivables | Payment status is a key credit quality indicator for conventional mortgage loans and allows the Bank to monitor the migration of past due loans. Other delinquency statistics include, non-accrual loans and loans in process of foreclosure. The following tables present the payment status for conventional mortgage loans.
____________ (1) Amortized cost excludes accrued interest receivable of $1 as of September 30, 2020.
____________ (1) Recorded investment includes accrued interest receivable of $1 as of December 31, 2019. The following tables present the other delinquency statistics for all mortgage loans.
____________ (1) Includes mortgage loans where the decision of foreclosure or similar alternative, such as a pursuit of deed-in-lieu, has been reported. (2) Mortgage loans that are 90 days or more past due or in the process of foreclosure expressed as a percentage of the total mortgage loan portfolio segment. (3) Mortgage loans insured or guaranteed by the Federal Housing Administration or the Department of Veterans Affairs. (4) Represents mortgage loans with contractual principal or interest payments 90 days or more past due and not accruing interest. As of September 30, 2020, 0.64 percent of these conventional mortgage loans on non-accrual status had an associated allowance for credit losses.
____________ (1) Includes mortgage loans where the decision of foreclosure or similar alternative, such as a pursuit of deed-in-lieu, has been reported. (2) Mortgage loans that are 90 days or more past due or in the process of foreclosure expressed as a percentage of the total mortgage loan portfolio segment. (3) Mortgage loans insured or guaranteed by the Federal Housing Administration or the Department of Veterans Affairs. (4) Represents mortgage loans with contractual principal or interest payments 90 days or more past due and not accruing interest.
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Consolidated Obligations (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consolidated Obligation Bonds by Interest-Rate Payment | Interest-rate Payment Terms. The following table presents the Bank’s consolidated obligation bonds by interest-rate payment type.
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Consolidated Obligation Bonds Outstanding, by Year of Contractual Maturity | Redemption Terms. The following table presents the Bank’s participation in consolidated obligation bonds outstanding by year of contractual maturity.
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Callable and Noncallable Consolidated Obligations Bonds Outstanding | The following table presents the Bank’s consolidated obligation bonds outstanding by call feature.
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Summary of Callable Consolidated Obligation Bonds Outstanding, by Year of Contractual Maturity | The following table presents the Bank’s consolidated obligation bonds outstanding, by year of contractual maturity, or for callable consolidated obligation bonds, by next call date.
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Consolidated Obligation Discount Notes | The following table presents the Bank’s participation in consolidated obligation discount notes.
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Capital and Mandatorily Redeemable Capital Stock (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Banking Regulation, Total Capital [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Compliance With Regulatory Capital Requirements | Capital. The following table presents the Bank’s compliance with the Federal Housing Finance Agency’s (Finance Agency) regulatory capital rules and requirements.
____________ (1) Total regulatory capital does not include accumulated other comprehensive income, but does include mandatorily redeemable capital stock.
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Schedule of declared quarterly cash dividends [Table Text Block] | The Bank declares and pays any dividends only after net income is calculated for the preceding quarter. The following table presents the Bank’s declared and paid quarterly cash dividends in 2020 and 2019.
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Schedule of Mandatorily Redeemable Capital Stock [Table Text Block] | Mandatorily Redeemable Capital Stock. The following table presents the activity in mandatorily redeemable capital stock.
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Amount of Mandatorily Redeemable Capital Stock by Year of Redemption | The following table presents the amount of mandatorily redeemable capital stock by year of redemption. The year of redemption in the table is the end of the five-year redemption period, or with respect to activity-based stock, the later of the expiration of the five-year redemption period or the activity’s maturity date.
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Accumulated Other Comprehensive Income (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components Comprising Accumulated Other Comprehensive Income | The following table presents the components comprising accumulated other comprehensive (loss) income.
____________ (1) Included in Noninterest expense - Other on the Statements of Income.
____________ (1) Included in Noninterest expense - Other on the Statements of Income.
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Derivatives and Hedging Activities (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value of Derivative Instruments | The following table presents the notional amount, fair value of derivative instruments, and total derivative assets and liabilities. Total derivative assets and liabilities include the effect of netting adjustments and cash collateral. For purposes of this disclosure, the derivative values include the fair value of derivatives and the related accrued interest.
___________ (1) Includes variation margin for daily settled contracts of $1,326 and $503 as of September 30, 2020 and December 31, 2019, respectively. (2) Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions, and also cash collateral and related accrued interest held or placed with the same clearing agents and/or counterparty. Cash collateral posted, including accrued interest was $984 and $543 as of September 30, 2020 and December 31, 2019, respectively. Cash collateral received, including accrued interest was $0 and $25 as of September 30, 2020 and December 31, 2019, respectively.
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Net Gains (Losses) on Fair Value Hedging Relationships | The following tables present the net gains (losses) on fair value hedging relationships.
____________ (1) Represents interest income/expense on derivatives in qualifying fair-value hedging relationships. Net interest settlements on derivatives that are not in qualifying fair-value hedging relationships are reported in other income. (2) Excludes the interest income/expense of the respective hedged items.
____________ (1) Represents interest income/expense on derivatives in qualifying fair-value hedging relationships. Net interest settlements on derivatives that are not in qualifying fair-value hedging relationships are reported in other income. (2) Excludes the interest income/expense of the respective hedged items.
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Cumulative Basis Adjustments for Fair Value Hedges | The following table presents the cumulative basis adjustments on hedged items designated as fair value hedges and the related amortized cost of the hedged items.
___________ (1) Includes only the portion of amortized cost representing the hedged items in fair value hedging relationships.
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Derivatives Not Designated as Hedging Instruments [Table Text Block] | The following table presents net losses related to derivatives and hedging activities recorded in noninterest income on the Statements of Income.
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Offsetting Assets [Table Text Block] | The following table presents the fair value of derivative instruments meeting or not meeting netting requirements, including the related collateral received from or pledged to counterparties.
____________ (1) The Bank had net credit exposure of $36 and $6 as of September 30, 2020 and December 31, 2019, due to instances where the Bank’s pledged collateral to a counterparty exceeded the Bank’s net derivative liability position.
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Estimated Fair Values (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | Estimated Fair Value Measurements on a Recurring Basis. The following tables present, for each fair value hierarchy level, the Bank’s financial assets and liabilities that are measured at fair value on a recurring basis on its Statements of Condition.
____________ (1) Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions, and also cash collateral and related accrued interest held or placed with the same clearing agents and/or counterparty.
____________ (1)Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions, and also cash collateral and related accrued interest held or placed with the same clearing agents and/or counterparty.
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Reconciliation of Available-For-Sale Securities Measured at Fair Value | The following table presents a reconciliation of available-for-sale securities that are measured at fair value on a recurring basis using significant unobservable inputs (Level 3).
____________ (1) Related to available-for-sale securities held at period end.
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Carrying Values and Estimated Fair Values | liabilities. The following tables present the carrying values and estimated fair values of the Bank’s financial instruments.
____________ (1) Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions, and also cash collateral and related accrued interest held or placed with the same clearing agents and/or counterparty.
____________ (1)Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions, and also cash collateral and related accrued interest held or placed with the same clearing agents and/or counterparty.
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Commitments and Contingencies (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Off Balance Sheet Commitments [Table Text Block] | The following table presents the Bank’s outstanding commitments, which represent off-balance sheet obligations.
____________ (1)“Expire Within One Year” includes 14 standby letters of credit for a total of $19 and 13 standby letters of credit for a total of $36 as of September 30, 2020 and December 31, 2019, respectively, which have no stated maturity date and are subject to renewal on an annual basis. (2)Expiration is based on settlement period rather than underlying contractual maturity of consolidated obligations.
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Transactions With Shareholders (Tables) |
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Transactions With Shareholders [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Transactions with Shareholders [Table Text Block] | Shareholder Concentrations. The Bank considers shareholder concentration as members or non-members with regulatory capital stock outstanding in excess of 10 percent of the Bank’s total regulatory capital stock. There were no shareholders whose regulatory capital stock exceeded 10 percent of the total regulatory capital stock outstanding as of September 30, 2020. The following table presents transactions with shareholders whose holdings of regulatory capital stock exceeded 10 percent of total regulatory capital stock outstanding as of December 31, 2019.
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Basis of Presentation Accounting Policies (Details) - USD ($) |
Sep. 30, 2020 |
Dec. 31, 2019 |
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Federal Funds Sold [Domain] | ||
Measurement of Credit Losses on Financial Instruments | ||
Allowance for Credit Loss | $ 0 | $ 0 |
Accrued Interest Receivable | 0 | 10 |
Interest-bearing Deposits in Banks and Other Financial Institutions | ||
Measurement of Credit Losses on Financial Instruments | ||
Allowance for Credit Loss | 0 | 0 |
Accrued Interest Receivable | $ 0 | $ 0 |
Trading Securities (Trading Securities by Major Security Type) (Details) - USD ($) $ in Millions |
Sep. 30, 2020 |
Dec. 31, 2019 |
---|---|---|
Schedule of Trading Securities | ||
Trading Securities | $ 1,563 | $ 1,558 |
US Treasury Securities [Member] | ||
Schedule of Trading Securities | ||
Trading Securities | 1,501 | 1,499 |
Government-Sponsored Enterprises Debt Obligations [Member] | ||
Schedule of Trading Securities | ||
Trading Securities | $ 62 | $ 59 |
Trading Securities (Net Gains on Trading Securities) (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2020 |
Sep. 30, 2019 |
Sep. 30, 2020 |
Sep. 30, 2019 |
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Debt Securities, Trading, Gain (Loss) [Abstract] | ||||
Net gains on trading securities held at period end | $ 0 | $ 1 | $ 5 | $ 3 |
Available-for-sale Securities (Available-for-sale by Major Security Type) (Details) - USD ($) $ in Millions |
Sep. 30, 2020 |
Dec. 31, 2019 |
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Debt Securities, Available-for-sale [Line Items] | ||||
Amortized cost of available-for-sale securities | $ 0 | $ 643 | ||
Available-for-sale Securities | 0 | 684 | ||
Mortgage-backed Securities, Private-label residential [Member] | ||||
Debt Securities, Available-for-sale [Line Items] | ||||
Amortized cost of available-for-sale securities | 0 | 643 | ||
Other-than-temporary Impairment Recognized in Accumulated Other Comprehensive Income | [1] | 0 | (1) | |
Gross unrealized gains on available-for-sale securities | 0 | 42 | ||
Gross unrealized losses on available-for-sale securities | 0 | 0 | ||
Available-for-sale Securities | $ 0 | $ 684 | ||
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Available-for-sale Securities (Summary of Available-for-sale Securities in a Continuous Unrealized Loss Position) (Details) - Mortgage-backed Securities, Private-label residential [Member] $ in Millions |
Sep. 30, 2020
USD ($)
positions
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Dec. 31, 2019
USD ($)
positions
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Debt Securities, Available-for-sale [Line Items] | ||
Number of available-for-sale securities in unrealized loss position for less than 12 months | positions | 0 | 4 |
Number of available-for-sale securities in unrealized loss position for 12 months or more | positions | 0 | 2 |
Number of available-for-sale securities in unrealized loss position | positions | 0 | 6 |
Estimated fair value of available-for-sale securities in unrealized loss position for less than 12 months | $ 0 | $ 14 |
Estimated fair value of available-for-sale securities in unrealized loss position for 12 months or more | 0 | 3 |
Estimated fair value of available-for-sale securities in unrealized loss position | 0 | 17 |
Available For Sale Securities Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses Accumulated In Investments | 0 | 0 |
Available For Sale Securities Continuous Unrealized Loss Position 12 Months Or Longer Aggregate Losses Accumulated In Investments | 0 | (1) |
Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses Accumulated In Investments | $ 0 | $ (1) |
Available-for-sale Securities (Summary of Available-for-sale MBS issued by Members or Affiliates of Members) (Details) - USD ($) $ in Millions |
Sep. 30, 2020 |
Dec. 31, 2019 |
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Debt Securities, Available-for-sale [Line Items] | ||||
Amortized cost of available-for-sale securities | $ 0 | $ 643 | ||
Available-for-sale Securities | 0 | 684 | ||
M B S Issued by Members or Affiliates of Members [Member] | ||||
Debt Securities, Available-for-sale [Line Items] | ||||
Amortized cost of available-for-sale securities | 0 | 456 | ||
Other-than-temporary Impairment Recognized in Accumulated Other Comprehensive Income | [1] | 0 | 0 | |
Gross unrealized gains on available-for-sale securities | 0 | 31 | ||
Gross unrealized losses on available-for-sale securities | 0 | 0 | ||
Available-for-sale Securities | $ 0 | $ 487 | ||
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Available-for-sale Securities Narrative (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2020 |
Sep. 30, 2019 |
Sep. 30, 2020 |
Sep. 30, 2019 |
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Investments, Debt and Equity Securities [Abstract] | ||||
Proceeds from sales | $ 726 | $ 0 | ||
Net realized gains from sale of available-for-sale securities | $ 0 | $ 0 | $ 82 | $ 0 |
Held-to-maturity Securities (Held-to-maturity by Major Security Type) (Details) - USD ($) $ in Millions |
Sep. 30, 2020 |
Dec. 31, 2019 |
---|---|---|
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized cost of held-to-maturity securities | $ 23,729 | $ 25,939 |
Held-to-maturity securities, Gross Unrealized Gains | 110 | 28 |
Held-to-maturity securities, Gross Unrealized Loss | (18) | (64) |
Held-to-maturity securities, fair value | 23,821 | 25,903 |
State or local housing agency debt obligations | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized cost of held-to-maturity securities | 1 | 1 |
Held-to-maturity securities, Gross Unrealized Gains | 0 | 0 |
Held-to-maturity securities, Gross Unrealized Loss | 0 | 0 |
Held-to-maturity securities, fair value | 1 | 1 |
Government-Sponsored Enterprises Debt Obligations [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized cost of held-to-maturity securities | 3,905 | 4,497 |
Held-to-maturity securities, Gross Unrealized Gains | 5 | 7 |
Held-to-maturity securities, Gross Unrealized Loss | 0 | 0 |
Held-to-maturity securities, fair value | 3,910 | 4,504 |
Mortgage-backed Securities, Private-label residential[Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized cost of held-to-maturity securities | 0 | 192 |
Held-to-maturity securities, Gross Unrealized Gains | 0 | 1 |
Held-to-maturity securities, Gross Unrealized Loss | 0 | (1) |
Held-to-maturity securities, fair value | 0 | 192 |
Mortgage-backed Securities, Private-label residential[Member] | Held-to-maturity Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to -maturity Securities accrued interest receivable | 11 | 27 |
Residential [Member] | U.S. agency obligations-guaranteed residential | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized cost of held-to-maturity securities | 312 | 89 |
Held-to-maturity securities, Gross Unrealized Gains | 2 | 0 |
Held-to-maturity securities, Gross Unrealized Loss | 0 | 0 |
Held-to-maturity securities, fair value | 314 | 89 |
Residential [Member] | Government-sponsored enterprises | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized cost of held-to-maturity securities | 7,986 | 8,642 |
Held-to-maturity securities, Gross Unrealized Gains | 69 | 20 |
Held-to-maturity securities, Gross Unrealized Loss | (6) | (29) |
Held-to-maturity securities, fair value | 8,049 | 8,633 |
Commercial [Member] | Government-sponsored enterprises | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized cost of held-to-maturity securities | 11,525 | 12,518 |
Held-to-maturity securities, Gross Unrealized Gains | 34 | 0 |
Held-to-maturity securities, Gross Unrealized Loss | (12) | (34) |
Held-to-maturity securities, fair value | $ 11,547 | $ 12,484 |
Held-to-maturity Securities (Redemption Terms) (Details) - USD ($) $ in Millions |
Sep. 30, 2020 |
Dec. 31, 2019 |
---|---|---|
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized cost of held-to-maturity securities | $ 23,729 | $ 25,939 |
Estimated fair value of held-to-maturity securities | 23,821 | 25,903 |
Non Mortgage Backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized cost of held-to-maturity securities due in one year or less | 270 | 1,202 |
Amortized cost of held-to-maturity securities due after one year through five years | 3,375 | 3,035 |
Amortized cost of held-to-maturity securities due after five years through ten years | 201 | 201 |
Due after 10 years | 60 | 60 |
Amortized cost of held-to-maturity securities | 3,906 | 4,498 |
Estimated fair value of held-to-maturity securities due in one year or less | 270 | 1,203 |
Estimated fair value of held-to-maturity securities due after one year through five years | 3,377 | 3,037 |
Estimated fair value of held-to-maturity securities due after five years through ten years | 203 | 204 |
Due after 10 years | 61 | 61 |
Estimated fair value of held-to-maturity securities | 3,911 | 4,505 |
Mortgage-backed securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized cost of held-to-maturity securities | 19,823 | 21,441 |
Estimated fair value of held-to-maturity securities | 19,910 | 21,398 |
Residential Mortgage Backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized cost of held-to-maturity securities | 0 | 192 |
Estimated fair value of held-to-maturity securities | 0 | 192 |
Residential Mortgage Backed Securities [Member] | Held-to-maturity Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to -maturity Securities accrued interest receivable | $ 11 | $ 27 |
Held-to-maturity Securities (Summary of Held-to-Maturity MBS issued by Members or Affliates of Members (Details) - USD ($) $ in Millions |
Sep. 30, 2020 |
Dec. 31, 2019 |
---|---|---|
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized cost of held-to-maturity securities | $ 23,729 | $ 25,939 |
Held-to-maturity securities, Gross Unrealized Gains | 110 | 28 |
Held-to-maturity securities, Gross Unrealized Loss | (18) | (64) |
Held-to-maturity securities, fair value | 23,821 | 25,903 |
M B S Issued by Members or Affiliates of Members [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized cost of held-to-maturity securities | 0 | 65 |
Held-to-maturity securities, Gross Unrealized Gains | 0 | 0 |
Held-to-maturity securities, Gross Unrealized Loss | 0 | 0 |
Held-to-maturity securities, fair value | $ 0 | $ 65 |
Held-to-maturity Securities Narrative (Details) - USD ($) $ in Millions |
9 Months Ended | |
---|---|---|
Sep. 30, 2020 |
Dec. 31, 2019 |
|
Investments, Debt and Equity Securities [Abstract] | ||
Debt Securities, Held-to-maturity, Amortized Cost, before Other-than-temporary Impairment | $ 23,729 | $ 25,939 |
Amortized cost of held-to-maturity private-label MBS sold | $ 192 | |
Proceeds from Sale and Maturity of Held-to-maturity Securities | 195 | |
Debt Securities, Held-to-maturity, Sold, Realized Gain (Loss) | $ 3 |
Advances Advances (Redemption Terms) (Details) - USD ($) $ in Millions |
Sep. 30, 2020 |
Dec. 31, 2019 |
||||||
---|---|---|---|---|---|---|---|---|
Advances [Abstract] | ||||||||
Due in one year or less | $ 28,120 | $ 64,413 | ||||||
Due after one year through two years | 3,523 | 7,421 | ||||||
Due after two years through three years | 4,719 | 5,420 | ||||||
Due after three years through four years | 2,869 | 3,382 | ||||||
Due after four years through five years | 4,450 | 4,778 | ||||||
Due after five years | 13,280 | 11,042 | ||||||
Federal Home Loan Bank, Advances, Par Value, Total | 56,961 | 96,456 | ||||||
Deferred Prepayment Fees on Advances | (10) | (9) | ||||||
Discount on AHP advances | [1] | (3) | (3) | |||||
Discount on EDGE advances | [2] | (1) | (2) | |||||
Hedging adjustments | 1,855 | 725 | ||||||
Total Federal Home Loan Bank Advances | [3] | 58,802 | 97,167 | |||||
Accrued Interest Receivable, Advances Disclosure | $ 84 | $ 214 | ||||||
|
Advances (Advances by Year of Contractual Maturity for Convertible Advances) (Details) - USD ($) $ in Millions |
Sep. 30, 2020 |
Dec. 31, 2019 |
---|---|---|
Advances [Abstract] | ||
Due or convertible in one year or less | $ 33,690 | $ 68,520 |
Due or convertible after one year through two years | 3,872 | 7,437 |
Due or convertible after two years through three years | 4,591 | 5,319 |
Due or convertible after three years through four years | 2,843 | 3,342 |
Due or convertible after four years through five years | 4,403 | 4,529 |
Due or convertible after five years | 7,562 | 7,309 |
Federal Home Loan Bank, Advances, Par Value, Total | $ 56,961 | $ 96,456 |
Advances (Interest-rate Payment Terms) (Details) - USD ($) $ in Millions |
Sep. 30, 2020 |
Dec. 31, 2019 |
---|---|---|
Advances [Abstract] | ||
Fixed-rate, due in one year or less | $ 17,607 | $ 36,366 |
Fixed-rate, due after one year | 25,720 | 25,985 |
Total fixed-rate | 43,327 | 62,351 |
Variable-rate, due in one year or less | 10,513 | 28,047 |
Variable-rate, due after one year | 3,121 | 6,058 |
Total variable-rate | 13,634 | 34,105 |
Federal Home Loan Bank, Advances, Par Value, Total | $ 56,961 | $ 96,456 |
Advances (Credit Risk Narrative) (Details Textual) $ in Millions |
Sep. 30, 2020
USD ($)
Institutions
|
Dec. 31, 2019
USD ($)
Institutions
|
---|---|---|
Advances [Abstract] | ||
Number of Top Advances Borrowers | Institutions | 10 | 10 |
Advances to Ten Largest Borrowers | $ 37,117 | $ 71,769 |
Advances Ten Largest Borrowers Percent of Total | 65.20% | 74.40% |
Allowance for credit losses on advances | $ 0 | $ 0 |
Advances past due | $ 0 | $ 0 |
Mortgage Loans Held for Portfolio (Details) - USD ($) $ in Millions |
9 Months Ended | 12 Months Ended | |||
---|---|---|---|---|---|
Sep. 30, 2020 |
Dec. 31, 2019 |
Sep. 30, 2019 |
|||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Unpaid principal balance | $ 243 | $ 297 | |||
Premiums | 1 | 1 | |||
Discounts | (1) | (1) | |||
Total mortgage loans held for portfolio | [1] | 243 | 297 | ||
Allowance for credit losses on mortgage loans | (1) | (1) | $ (1) | ||
Mortgage loans held for portfolio, net | 242 | 296 | |||
Accrued Interest on Mortgage Loans | 1 | 1 | |||
Fixed-rate medium-term residential mortgage loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Unpaid principal balance | $ 3 | $ 5 | |||
Mortgage Loans on Real Estate, Original Contractual Terms | 15 years | 15 years | |||
Fixed-rate long-term residential mortgage loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Unpaid principal balance | $ 240 | $ 292 | |||
Conventional Mortgage Loan [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Unpaid principal balance | 226 | 278 | |||
Government-guaranteed or insured mortgage loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Unpaid principal balance | $ 17 | $ 19 | |||
|
Mortgage Loans Held for Portfolio Roll-forward of Allowance for Credit Losses (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2020 |
Sep. 30, 2019 |
Sep. 30, 2020 |
Sep. 30, 2019 |
|
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Balance, beginning of period | $ 1 | |||
Balance, end of period | $ 1 | $ 1 | 1 | $ 1 |
Residential Portfolio Segment [Member] | Conventional Mortgage Loan [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Balance, beginning of period | 1 | 1 | 1 | 1 |
Provision for credit losses | 0 | 0 | 0 | 0 |
Balance, end of period | $ 1 | $ 1 | $ 1 | $ 1 |
Mortgage Loans Held for Portfolio Credit Quality Indicators (Details) - Residential Portfolio Segment [Member] - USD ($) $ in Millions |
Sep. 30, 2020 |
Dec. 31, 2019 |
||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||||||||||||
Accrued Interest Receivable on Conventional Mortgage Loans | $ 1 | $ 1 | ||||||||||||||
In process of foreclosure at amortized cost | [1] | $ 0 | ||||||||||||||
Seriously delinquent rate at amortized cost | [2] | 6.03% | ||||||||||||||
Past due 90 days or more and still accruing interest at amortized cost | [3] | $ 1 | ||||||||||||||
Loans on nonaccrual status at amortized cost | [4] | 14 | ||||||||||||||
In process of foreclosure at recorded investment | [1] | $ 1 | ||||||||||||||
Seriously delinquent rate at recorded investment | [2] | 1.86% | ||||||||||||||
Past due 90 days or more and still accruing interest at recorded investment | [3] | $ 0 | ||||||||||||||
Loans on nonaccrual status at recorded investment | [5] | 5 | ||||||||||||||
Government-guaranteed or insured mortgage loans [Member] | ||||||||||||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||||||||||||
In process of foreclosure at amortized cost | [1] | $ 0 | ||||||||||||||
Seriously delinquent rate at amortized cost | [2] | 5.96% | ||||||||||||||
Past due 90 days or more and still accruing interest at amortized cost | [3] | $ 1 | ||||||||||||||
Loans on nonaccrual status at amortized cost | [4] | 0 | ||||||||||||||
In process of foreclosure at recorded investment | [1] | $ 0 | ||||||||||||||
Seriously delinquent rate at recorded investment | [2] | 0.39% | ||||||||||||||
Past due 90 days or more and still accruing interest at recorded investment | [3] | $ 0 | ||||||||||||||
Loans on nonaccrual status at recorded investment | [5] | 0 | ||||||||||||||
Conventional Mortgage Loan [Member] | ||||||||||||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||||||||||||
Total past due mortgage loans at recorded investment | 16 | |||||||||||||||
Total current mortgage loans at recorded investment | 263 | |||||||||||||||
Total conventional mortgage loans | [6] | 279 | ||||||||||||||
In process of foreclosure at recorded investment | [1] | $ 1 | ||||||||||||||
Seriously delinquent rate at recorded investment | [2] | 1.96% | ||||||||||||||
Past due 90 days or more and still accruing interest at recorded investment | [3] | $ 0 | ||||||||||||||
Loans on nonaccrual status at recorded investment | [5] | 5 | ||||||||||||||
Conventional Mortgage Loan [Member] | ||||||||||||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||||||||||||
Total Past Due Mortgage Loans at Amortized Cost Originated Four Years before Latest Fiscal Year | 1 | |||||||||||||||
Total Current Mortgage Loans at Amortzied Cost Originated Four Years before Latest Fiscal Year | 52 | |||||||||||||||
Total Amortzied Cost Originated Four Years before Latest Fiscal Year | 53 | |||||||||||||||
Total Past Due Mortgage Loans at Amortized Cost Originated Five or More Years before Latest Fiscal Year | 20 | |||||||||||||||
Total Current Mortgage Loans at Amortzied Cost Originated Five or More Years before Latest Fiscal Year | 153 | |||||||||||||||
Total Amortzied Cost Originated Five or More Years before Latest Fiscal Year | 173 | |||||||||||||||
Total past due mortgage loans at amortized cost | 21 | |||||||||||||||
Total Current Mortgage Loans at Amortzied Cost | 205 | |||||||||||||||
Total Amortized Cost | [7] | 226 | ||||||||||||||
In process of foreclosure at amortized cost | [1] | $ 0 | ||||||||||||||
Seriously delinquent rate at amortized cost | [2] | 6.03% | ||||||||||||||
Past due 90 days or more and still accruing interest at amortized cost | [3] | $ 0 | ||||||||||||||
Loans on nonaccrual status at amortized cost | [4] | $ 14 | ||||||||||||||
Ratio of Conventional Mortgage Loans Amortzied Cost on Nonaccrual Status with an Associated Allowance for Credit Losses | 0.64% | |||||||||||||||
Financial Asset, 30 to 59 Days Past Due [Member] | ||||||||||||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||||||||||||
Total past due mortgage loans at recorded investment | 8 | |||||||||||||||
Financial Asset, 30 to 59 Days Past Due [Member] | Conventional Mortgage Loan [Member] | ||||||||||||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||||||||||||
Past Due Mortgage Loans Originated Four Years before Latest Fiscal Year | $ 0 | |||||||||||||||
Past Due Mortgage Loans Originated Five or More Years before Latest Fiscal Year | 6 | |||||||||||||||
Total past due mortgage loans at amortized cost | 6 | |||||||||||||||
Financial Asset, 60 to 89 Days Past Due [Member] | ||||||||||||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||||||||||||
Total past due mortgage loans at recorded investment | 2 | |||||||||||||||
Financial Asset, 60 to 89 Days Past Due [Member] | Conventional Mortgage Loan [Member] | ||||||||||||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||||||||||||
Past Due Mortgage Loans Originated Four Years before Latest Fiscal Year | 0 | |||||||||||||||
Past Due Mortgage Loans Originated Five or More Years before Latest Fiscal Year | 2 | |||||||||||||||
Total past due mortgage loans at amortized cost | 2 | |||||||||||||||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||||||||||||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||||||||||||
Total past due mortgage loans at recorded investment | $ 6 | |||||||||||||||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Conventional Mortgage Loan [Member] | ||||||||||||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||||||||||||
Past Due Mortgage Loans Originated Four Years before Latest Fiscal Year | 1 | |||||||||||||||
Past Due Mortgage Loans Originated Five or More Years before Latest Fiscal Year | 12 | |||||||||||||||
Total past due mortgage loans at amortized cost | $ 13 | |||||||||||||||
|
Mortgage Loans Held for Portfolio (Details) $ in Millions |
Sep. 30, 2020
USD ($)
|
---|---|
Receivables [Abstract] | |
Conventional mortgage loans in a forbearance plan due to COVID-19, Unpaid principal balance | $ 18 |
Ratio of conventional mortgage loans in a forbearance plan due to COVID-19 to total mortgage loans outstanding | 7.57% |
Unpaid principal balance of conventional mortgage loans in a forbearance plan due to COVID-19, current payment status | $ 5 |
Unpaid principal balance of conventional mortgage loans in a forbearance plan due to COVID-19, 30 to 59 days past due | 2 |
Unpaid principal balance of conventional mortgage loans in a forbearance plan due to COVID-19, 60 to 89 days past due | 1 |
Unpaid principal balance of conventional mortgage loans in a forbearance plan due to COVID-19, 90 days or more past due and nonaccrual | $ 10 |
Consolidated Obligations (Narrative) (Details) |
9 Months Ended |
---|---|
Sep. 30, 2020
bank
| |
Debt Disclosure [Abstract] | |
Number of Federal Home Loan Banks | 11 |
Maximum contractual maturity period of discount notes (up to one year) | 1 year |
Consolidated Obligations (Interest-rate Payment Terms) (Details) - Consolidated Obligation Bonds [Member] - USD ($) $ in Millions |
Sep. 30, 2020 |
Dec. 31, 2019 |
---|---|---|
Debt Instrument [Line Items] | ||
Bonds par value | $ 68,801 | $ 88,483 |
Fixed-rate [Member] | ||
Debt Instrument [Line Items] | ||
Bonds par value | 7,067 | 30,810 |
Step up/down [Member] | ||
Debt Instrument [Line Items] | ||
Bonds par value | 90 | 735 |
Simple variable-rate [Member] | ||
Debt Instrument [Line Items] | ||
Bonds par value | $ 61,644 | $ 56,938 |
Consolidated Obligations (Redemption Terms) (Details) - USD ($) $ in Millions |
Sep. 30, 2020 |
Dec. 31, 2019 |
---|---|---|
Debt Instrument [Line Items] | ||
Federal Home Loan Bank, Consolidated Obligations, Bonds | $ 68,858 | $ 88,503 |
Consolidated Obligation Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Bonds, Due in one year or less | 55,412 | 79,699 |
Bonds, Due after one year through two years | 8,779 | 4,426 |
Bonds, Due after two years through three years | 435 | 817 |
Bonds, Due after three years through four years | 1,603 | 546 |
Bonds, Due after four years through five years | 1,382 | 1,635 |
Bonds, Due after five years | 1,190 | 1,360 |
Bonds par value | 68,801 | 88,483 |
Premiums | 12 | 4 |
Discounts | (21) | (20) |
Hedging adjustments | 66 | 36 |
Federal Home Loan Bank, Consolidated Obligations, Bonds | $ 68,858 | $ 88,503 |
Bonds, Due in one year or less, weighted average interest rate | 0.21% | 1.75% |
Bonds, Due after one year through two years, weighted average interest rate | 0.42% | 1.90% |
Bonds, Due after two years through three years, weighted average interest rate | 2.18% | 2.32% |
Bonds, Due after three years through four years, weighted average interest rate | 2.31% | 2.84% |
Bonds, Due after four years through five years, weighted average interest rate | 0.95% | 2.47% |
Bonds, Due after five years, weighted average interest rate | 3.76% | 3.54% |
Total, weighted average interest rate | 0.37% | 1.82% |
Consolidated Obligations (Bonds by Callable Feature) (Details) - Consolidated Obligation Bonds [Member] - USD ($) $ in Millions |
Sep. 30, 2020 |
Dec. 31, 2019 |
---|---|---|
Debt Instrument [Line Items] | ||
Bonds par value | $ 68,801 | $ 88,483 |
Noncallable [Member] | ||
Debt Instrument [Line Items] | ||
Bonds par value | 68,576 | 76,243 |
Callable [Member] | ||
Debt Instrument [Line Items] | ||
Bonds par value | $ 225 | $ 12,240 |
Consolidated Obligations (Bonds by Maturity or Call Date) (Details) - Consolidated Obligation Bonds [Member] - USD ($) $ in Millions |
Sep. 30, 2020 |
Dec. 31, 2019 |
---|---|---|
Debt Instrument [Line Items] | ||
Bonds, Due in one year or less | $ 55,412 | $ 79,699 |
Bonds, Due after one year through two years | 8,779 | 4,426 |
Bonds, Due after two years through three years | 435 | 817 |
Bonds, Due after three years through four years | 1,603 | 546 |
Bonds, Due after four years through five years | 1,382 | 1,635 |
Bonds, Due after five years | 1,190 | 1,360 |
Bonds par value | 68,801 | 88,483 |
Earlier of Contractual Maturity or Next Call Date [Member] | ||
Debt Instrument [Line Items] | ||
Bonds, Due in one year or less | 55,637 | 81,624 |
Bonds, Due after one year through two years | 8,779 | 3,746 |
Bonds, Due after two years through three years | 370 | 432 |
Bonds, Due after three years through four years | 1,493 | 171 |
Bonds, Due after four years through five years | 1,332 | 1,320 |
Bonds, Due after five years | $ 1,190 | $ 1,190 |
Consolidated Obligations (Discount Notes) (Details) - USD ($) $ in Millions |
Sep. 30, 2020 |
Dec. 31, 2019 |
---|---|---|
Short-term Debt [Line Items] | ||
Discount notes | $ 35,519 | $ 52,134 |
Discount Notes | ||
Short-term Debt [Line Items] | ||
Discount notes | 35,519 | 52,134 |
Discount notes par value | $ 35,531 | $ 52,298 |
Discount notes weighted average interest rate | 0.22% | 1.64% |
Capital and Mandatorily Redeemable Capital Stock (Narrative) (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | 36 Months Ended | ||||
---|---|---|---|---|---|---|---|
Jun. 30, 2020 |
Sep. 30, 2020 |
Sep. 30, 2019 |
Dec. 31, 1989 |
Dec. 31, 2019 |
Jun. 30, 2019 |
Dec. 31, 2018 |
|
Banking Regulation, Total Capital [Abstract] | |||||||
Mandatorily redeemable capital stock | $ 1 | $ 1 | $ 1 | $ 1 | $ 1 | $ 1 | |
Partial recovery of prior capital distribution to Financing Corporation | $ 29 | $ 29 | $ 0 | ||||
Total FICO distributions made by the FHLBanks | $ 680 |
Capital and Mandatorily Redeemable Capital Stock (Regulatory Capital Rules and Requirements) (Details) - USD ($) $ in Millions |
Sep. 30, 2020 |
Dec. 31, 2019 |
||
---|---|---|---|---|
Banking Regulation, Total Capital [Abstract] | ||||
Risk-based capital, Required | $ 1,530 | $ 1,423 | ||
Risk-based capital, Actual | $ 5,540 | $ 7,142 | ||
Total regulatory capital ratio, Required | 4.00% | 4.00% | ||
Total regulatory capital ratio, Actual | 4.94% | 4.77% | ||
Total regulatory capital, Required | [1] | $ 4,487 | $ 5,994 | |
Total regulatory capital, Actual | [1] | $ 5,540 | $ 7,142 | |
Leverage capital ratio, Required | 5.00% | 5.00% | ||
Leverage capital ratio, Actual | 7.41% | 7.15% | ||
Leverage capital, Required | $ 5,608 | $ 7,493 | ||
Leverage capital, Actual | $ 8,310 | $ 10,713 | ||
|
Capital and Mandatorily Redeemable Capital Stock Schedule of Declared and Paid Quarterly Dividends (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Sep. 30, 2020 |
Jun. 30, 2020 |
Mar. 31, 2020 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Sep. 30, 2020 |
Sep. 30, 2019 |
|
Statement of Stockholders' Equity [Abstract] | ||||||||
Dividends, Common Stock, Cash | $ 58 | $ 70 | $ 76 | $ 82 | $ 81 | $ 85 | $ 204 | $ 248 |
Common Stock Dividend-Annualized Rate | 4.35% | 5.53% | 5.93% | 6.36% | 6.54% | 6.47% | 4.90% | 6.46% |
Capital and Mandatorily Redeemable Capital Stock (Mandatorily Redeemable Capital Stock Roll-forward) (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2020 |
Sep. 30, 2019 |
Sep. 30, 2020 |
Sep. 30, 2019 |
|
Banking Regulation, Total Capital [Abstract] | ||||
Balance, beginning of period | $ 1 | $ 1 | $ 1 | $ 1 |
Net Shares Reclassified to Mandatorily Redeemable Capital Stock | 0 | 3 | 22 | 3 |
Repurchase/redemption of mandatorily redeemable capital stock | 0 | (3) | (22) | (3) |
Balance, end of period | $ 1 | $ 1 | $ 1 | $ 1 |
Capital and Mandatorily Redeemable Capital Stock (Mandatorily Redeemable Capital Stock by Year of Redemption) (Details) - USD ($) $ in Millions |
Sep. 30, 2020 |
Jun. 30, 2020 |
Dec. 31, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Dec. 31, 2018 |
---|---|---|---|---|---|---|
Banking Regulation, Total Capital [Abstract] | ||||||
Due after two years through three years | $ 1 | $ 0 | ||||
Due after three years through four years | 0 | 1 | ||||
Mandatorily redeemable capital stock | $ 1 | $ 1 | $ 1 | $ 1 | $ 1 | $ 1 |
Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | |||||
---|---|---|---|---|---|---|---|
Sep. 30, 2020 |
Sep. 30, 2019 |
Sep. 30, 2020 |
Sep. 30, 2019 |
||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||||
Accumulated Other Comprehensive Income (Loss), Beginning of period | $ 22 | ||||||
Amortization of pension and posttretirement | $ 1 | $ 1 | 2 | $ 2 | |||
Net current period other comprehensive Income (loss) | 1 | (7) | (39) | (22) | |||
Accumulated Other Comprehensive Income (Loss), End of period | (17) | (17) | |||||
Net Unrealized Gains (Losses) on Available-for-sale Securities | |||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||||
Accumulated Other Comprehensive Income (Loss), Beginning of period | 0 | 0 | 0 | 0 | |||
Adoption of ASU 2016-13 as amended | 41 | ||||||
Net unrealized gains on available-for-sale securities | 0 | 41 | 0 | ||||
Noncredit other-than-temporary impairment losses | 0 | 0 | |||||
Net realized gains from sale of available-for-sales securities | (82) | ||||||
Amortization of pension and posttretirement | 0 | 0 | 0 | 0 | |||
Net current period other comprehensive Income (loss) | 0 | 0 | 0 | 0 | |||
Accumulated Other Comprehensive Income (Loss), End of period | 0 | 0 | 0 | 0 | |||
Pension and Postretirement Benefits [Member] | |||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||||
Accumulated Other Comprehensive Income (Loss), Beginning of period | (18) | (20) | (19) | (21) | |||
Adoption of ASU 2016-13 as amended | 0 | ||||||
Net unrealized gains on available-for-sale securities | 0 | 0 | 0 | ||||
Noncredit other-than-temporary impairment losses | 0 | 0 | |||||
Net realized gains from sale of available-for-sales securities | 0 | ||||||
Amortization of pension and posttretirement | 1 | 1 | 2 | 2 | [1] | ||
Net current period other comprehensive Income (loss) | 1 | 1 | 2 | 2 | |||
Accumulated Other Comprehensive Income (Loss), End of period | (17) | (19) | (17) | (19) | |||
Total Accumulated Other Comprehensive Income (Loss) [Member] | |||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||||
Accumulated Other Comprehensive Income (Loss), Beginning of period | (18) | 36 | 22 | 51 | |||
Adoption of ASU 2016-13 as amended | 0 | ||||||
Net unrealized gains on available-for-sale securities | (12) | 41 | (31) | ||||
Noncredit other-than-temporary impairment losses | 4 | 7 | |||||
Net realized gains from sale of available-for-sales securities | (82) | ||||||
Amortization of pension and posttretirement | 1 | 1 | 2 | 2 | [1] | ||
Net current period other comprehensive Income (loss) | 1 | (7) | (39) | (22) | |||
Accumulated Other Comprehensive Income (Loss), End of period | (17) | 29 | (17) | 29 | |||
Available-for-sale Securities [Member] | Net Noncredit Portion of Other-than-Temporary Impairment Losses on Available-for-sale securities | |||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||||
Accumulated Other Comprehensive Income (Loss), Beginning of period | 0 | 56 | 41 | 72 | |||
Adoption of ASU 2016-13 as amended | (41) | ||||||
Net unrealized gains on available-for-sale securities | (12) | 0 | (31) | ||||
Noncredit other-than-temporary impairment losses | 4 | 7 | |||||
Net realized gains from sale of available-for-sales securities | 0 | ||||||
Amortization of pension and posttretirement | 0 | 0 | 0 | 0 | |||
Net current period other comprehensive Income (loss) | 0 | (8) | (41) | (24) | |||
Accumulated Other Comprehensive Income (Loss), End of period | $ 0 | $ 48 | $ 0 | $ 48 | |||
|
Derivatives and Hedging Activities (Fair Value of Derivative Instruments) (Details) - USD ($) $ in Millions |
Sep. 30, 2020 |
Dec. 31, 2019 |
||||||
---|---|---|---|---|---|---|---|---|
Derivative [Line Items] | ||||||||
Derivative, Notional Amount | $ 43,698 | $ 81,199 | ||||||
Variation Margin for Daily Settled Contracts, Net | 1,326 | 503 | ||||||
Cash collateral posted | 984 | 543 | ||||||
Cash collateral received | 0 | 25 | ||||||
Derivative Assets | 27 | 76 | ||||||
Derivative Liabilities | 580 | 222 | ||||||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | [1],[2] | 413 | 304 | |||||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | [1],[2] | (571) | (215) | |||||
Derivative assets | 440 | 380 | ||||||
Derivative liabilities | 9 | 7 | ||||||
Designated as Hedging Instrument [Member] | Interest-rate swaps [Member] | ||||||||
Derivative [Line Items] | ||||||||
Derivative, Notional Amount | [3] | 36,617 | 73,637 | |||||
Derivative Assets | [3] | 25 | 71 | |||||
Derivative Liabilities | [3] | 578 | 221 | |||||
Not Designated as Hedging Instrument [Member] | ||||||||
Derivative [Line Items] | ||||||||
Derivative, Notional Amount | 7,081 | 7,562 | ||||||
Derivative Assets | 2 | 5 | ||||||
Derivative Liabilities | 2 | 1 | ||||||
Not Designated as Hedging Instrument [Member] | Interest-rate swaps [Member] | ||||||||
Derivative [Line Items] | ||||||||
Derivative, Notional Amount | [3] | 81 | 478 | |||||
Derivative Assets | [3] | 1 | 5 | |||||
Derivative Liabilities | [3] | 1 | 1 | |||||
Not Designated as Hedging Instrument [Member] | Interest rate caps or floors [Member] | ||||||||
Derivative [Line Items] | ||||||||
Derivative, Notional Amount | 7,000 | 7,084 | ||||||
Derivative Assets | 1 | 0 | ||||||
Derivative Liabilities | $ 1 | $ 0 | ||||||
|
Derivatives and Hedging Activities (Net Gains (Losses) on Fair Value Hedging Relationships) (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2020 |
Sep. 30, 2019 |
Sep. 30, 2020 |
Sep. 30, 2019 |
|||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||
Interest Income, Advances | $ 135 | $ 584 | $ 786 | $ 1,899 | ||||||
Interest Expense, Consolidated Obligation Bonds | 59 | 424 | 530 | 1,340 | ||||||
Interest Expense, Consolidated Obligation Discount notes | (40) | (363) | (344) | (1,145) | ||||||
Interest Income [Member] | Advances [Member] | ||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||
Hedged Items | (202) | 232 | 1,173 | 990 | ||||||
Derivatives | 219 | (244) | (1,164) | (1,002) | ||||||
Net changes in fair value | 17 | (12) | 9 | (12) | ||||||
Net interest settlements on derivatives | (109) | 1 | (238) | [1],[2] | 35 | [1],[2] | ||||
Amortization Accretion of Active Hedging Relationships | (15) | (5) | (39) | (17) | ||||||
Other | (1) | (3) | (1) | (3) | ||||||
Total net interest (expense) income effect from fair value hedging relationships | (108) | (19) | (269) | 3 | ||||||
Interest Expense [Member] | Bonds | ||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||
Hedged Items | 17 | (10) | (28) | (179) | ||||||
Derivatives | (16) | 11 | 30 | 175 | ||||||
Net changes in fair value | 1 | 1 | 2 | (4) | ||||||
Net interest settlements on derivatives | 15 | (2) | 34 | [1],[2] | (32) | [1],[2] | ||||
Amortization Accretion of Active Hedging Relationships | 0 | 0 | (2) | 0 | ||||||
Other | 0 | (1) | 0 | (1) | ||||||
Total net interest (expense) income effect from fair value hedging relationships | 16 | (2) | 34 | (37) | ||||||
Interest Expense [Member] | Discount Notes | ||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||
Hedged Items | 1 | (1) | 0 | (1) | ||||||
Derivatives | (2) | 1 | 0 | 1 | ||||||
Net changes in fair value | (1) | 0 | 0 | 0 | ||||||
Net interest settlements on derivatives | 0 | 0 | 38 | [1],[2] | 0 | |||||
Amortization Accretion of Active Hedging Relationships | 0 | 0 | 0 | 0 | ||||||
Other | 0 | 0 | ||||||||
Total net interest (expense) income effect from fair value hedging relationships | $ (1) | $ 0 | $ 38 | $ 0 | ||||||
|
Derivatives and Hedging Activities (Cumulative Basis Adjustments for Fair Value Hedges) (Details) - USD ($) $ in Millions |
Sep. 30, 2020 |
Dec. 31, 2019 |
||
---|---|---|---|---|
Advances [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Amortized Cost of Hedged Asset | [1] | $ 27,518 | $ 29,984 | |
Basis Adjustments for Active Hedging Relationships Included in Amortized Cost | 1,845 | 716 | ||
Basis Adjustments for Discontinued Hedging Relationships included in Amortized Cost | 10 | 9 | ||
Cumulative Amount of Fair Value Hedging Basis Adjustments | 1,855 | 725 | ||
Discount Notes | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Amortized Cost of Hedged Liability | [1] | 7,368 | 17,742 | |
Basis Adjustments for Active Hedging Relationships included in Amortized Cost) | 0 | 0 | ||
Basis Adjustments for Discontinued Hedging Relationships included in Amortized Cost | 0 | 0 | ||
Cumulative Amount of Fair Value Hedging Basis Adjustments | 0 | 0 | ||
Bonds | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Amortized Cost of Hedged Liability | [1] | 1,994 | 26,348 | |
Basis Adjustments for Active Hedging Relationships included in Amortized Cost) | 66 | 36 | ||
Basis Adjustments for Discontinued Hedging Relationships included in Amortized Cost | 0 | 0 | ||
Cumulative Amount of Fair Value Hedging Basis Adjustments | $ 66 | $ 36 | ||
|
Derivatives and Hedging Activities (Net Gains (Losses) on Derivatives and Hedging Activities Recorded in Non-interest Income) (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2020 |
Sep. 30, 2019 |
Sep. 30, 2020 |
Sep. 30, 2019 |
|
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Interest-rate swaps | $ 1 | $ (1) | $ (6) | $ (5) |
Gain (Loss) on Derivative Instruments, Net, Pretax | 1 | (1) | (6) | (5) |
Gain (Loss) on Derivative Instruments [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member] | Interest-rate swaps [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Interest-rate swaps | 1 | (1) | (5) | (5) |
Gain (Loss) on Derivative Instruments [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member] | Net Interest Settlements [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Interest-rate swaps | $ 0 | $ 0 | $ (1) | $ 0 |
Derivatives and Hedging Activities (Offsetting of Derivative Assets and Derivative Liabilities) (Details) - USD ($) $ in Millions |
Sep. 30, 2020 |
Dec. 31, 2019 |
||||||
---|---|---|---|---|---|---|---|---|
Derivatives, Fair Value [Line Items] | ||||||||
Derivative Asset, Fair Value, Gross Asset | $ 27 | $ 76 | ||||||
Derivative Liability, Fair Value, Gross Liability | 580 | 222 | ||||||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | [1],[2] | 413 | 304 | |||||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | [1],[2] | (571) | (215) | |||||
Derivative assets | 440 | 380 | ||||||
Derivative liabilities | 9 | 7 | ||||||
Derivative, Collateral, Obligation to Return Securities | [3] | 1 | 4 | |||||
Derivative, Collateral, Right to Reclaim Securities | [3] | 0 | 0 | |||||
Derivative Asset, Fair Value, Amount Offset Against Collateral | [3] | 439 | 376 | |||||
Derivative Liability, Fair Value, Amount Offset Against Collateral | [3] | 9 | 7 | |||||
Credit Risk Contract [Member] | ||||||||
Derivatives, Fair Value [Line Items] | ||||||||
Credit Derivative Exposure Net | 36 | 6 | ||||||
Uncleared derivatives [Member] | ||||||||
Derivatives, Fair Value [Line Items] | ||||||||
Derivative Asset, Fair Value, Gross Asset | 10 | 59 | ||||||
Derivative Liability, Fair Value, Gross Liability | 579 | 219 | ||||||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | 26 | (47) | ||||||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | (570) | (212) | ||||||
Derivative assets | 36 | 12 | ||||||
Derivative liabilities | 9 | 7 | ||||||
Derivative, Collateral, Obligation to Return Securities | [3] | 1 | 4 | |||||
Derivative, Collateral, Right to Reclaim Securities | [3] | 0 | 0 | |||||
Derivative Asset, Fair Value, Amount Offset Against Collateral | [3] | 35 | 8 | |||||
Derivative Liability, Fair Value, Amount Offset Against Collateral | [3] | 9 | 7 | |||||
Cleared derivatives [Member] | ||||||||
Derivatives, Fair Value [Line Items] | ||||||||
Derivative Asset, Fair Value, Gross Asset | 17 | 17 | ||||||
Derivative Liability, Fair Value, Gross Liability | 1 | 3 | ||||||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | 387 | 351 | ||||||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | (1) | (3) | ||||||
Derivative assets | 404 | 368 | ||||||
Derivative liabilities | 0 | 0 | ||||||
Derivative, Collateral, Obligation to Return Securities | [3] | 0 | 0 | |||||
Derivative, Collateral, Right to Reclaim Securities | [3] | 0 | 0 | |||||
Derivative Asset, Fair Value, Amount Offset Against Collateral | [3] | 404 | 368 | |||||
Derivative Liability, Fair Value, Amount Offset Against Collateral | [3] | $ 0 | $ 0 | |||||
|
Derivatives and Hedging Activities (Narrative) (Details) $ in Millions |
9 Months Ended |
---|---|
Sep. 30, 2020
USD ($)
| |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |
Document Period End Date | Sep. 30, 2020 |
Derivative, Net Liability Position, Aggregate Fair Value | $ 9 |
Collateral already posted, aggregate fair value | 0 |
Additional Collateral, Aggregate Fair Value | $ 4 |
Estimated Fair Values (Estimated Fair Value Measurements on a Recurring Basis) (Details) - USD ($) $ in Millions |
Sep. 30, 2020 |
Dec. 31, 2019 |
||||
---|---|---|---|---|---|---|
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Trading Securities | $ 1,563 | $ 1,558 | ||||
Assets: | ||||||
Available-for-sale Securities | 0 | 684 | ||||
Derivative assets | 440 | 380 | ||||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | [1],[2] | 413 | 304 | |||
Liabilities: | ||||||
Derivative liabilities | 9 | 7 | ||||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | [1],[2] | (571) | (215) | |||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||||||
Assets: | ||||||
Available-for-sale Securities | 0 | 684 | ||||
US Treasury Securities [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Trading Securities | 1,501 | 1,499 | ||||
Government-Sponsored Enterprises Debt Obligations [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Trading Securities | 62 | 59 | ||||
Fair Value, Inputs, Level 1 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Trading Securities | 0 | 0 | ||||
Assets: | ||||||
Available-for-sale Securities | 0 | |||||
Derivative assets | 0 | 0 | ||||
Grantor trust assets (included in Other assets) | 71 | 68 | ||||
Liabilities: | ||||||
Derivative liabilities | 0 | 0 | ||||
Fair Value, Inputs, Level 2 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Trading Securities | 1,563 | 1,558 | ||||
Assets: | ||||||
Available-for-sale Securities | 0 | |||||
Derivative assets | 27 | 76 | ||||
Grantor trust assets (included in Other assets) | 0 | 0 | ||||
Liabilities: | ||||||
Derivative liabilities | 580 | 222 | ||||
Fair Value, Inputs, Level 3 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Trading Securities | 0 | 0 | ||||
Assets: | ||||||
Available-for-sale Securities | 684 | |||||
Derivative assets | 0 | 0 | ||||
Grantor trust assets (included in Other assets) | 0 | 0 | ||||
Liabilities: | ||||||
Derivative liabilities | 0 | 0 | ||||
Fair Value, Recurring [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Trading Securities | 0 | 0 | ||||
Assets: | ||||||
Available-for-sale Securities | 0 | |||||
Derivative, Collateral, Right to Reclaim Cash | [1] | 413 | 304 | |||
Grantor trust assets (included in Other assets) | 0 | 0 | ||||
Liabilities: | ||||||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | [1] | (571) | (215) | |||
Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||||||
Assets: | ||||||
Available-for-sale Securities | 0 | |||||
Fair Value, Recurring [Member] | US Treasury Securities [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Trading Securities | 0 | 0 | ||||
Fair Value, Recurring [Member] | Government-Sponsored Enterprises Debt Obligations [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Trading Securities | 0 | 0 | ||||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Trading Securities | 0 | 0 | ||||
Assets: | ||||||
Grantor trust assets (included in Other assets) | 71 | 68 | ||||
Total recurring assets at fair value | 71 | 68 | ||||
Liabilities: | ||||||
Total recurring liabilities at fair value | 0 | 0 | ||||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||||||
Assets: | ||||||
Available-for-sale Securities | 0 | |||||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Treasury Securities [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Trading Securities | 0 | 0 | ||||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Government-Sponsored Enterprises Debt Obligations [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Trading Securities | 0 | 0 | ||||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Trading Securities | 1,563 | 1,558 | ||||
Assets: | ||||||
Grantor trust assets (included in Other assets) | 0 | 0 | ||||
Total recurring assets at fair value | 1,590 | 1,634 | ||||
Liabilities: | ||||||
Total recurring liabilities at fair value | 580 | 222 | ||||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||||||
Assets: | ||||||
Available-for-sale Securities | 0 | |||||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Treasury Securities [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Trading Securities | 1,501 | 1,499 | ||||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Government-Sponsored Enterprises Debt Obligations [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Trading Securities | 62 | 59 | ||||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Trading Securities | 0 | 0 | ||||
Assets: | ||||||
Grantor trust assets (included in Other assets) | 0 | 0 | ||||
Total recurring assets at fair value | 0 | 684 | ||||
Liabilities: | ||||||
Total recurring liabilities at fair value | 0 | 0 | ||||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||||||
Assets: | ||||||
Available-for-sale Securities | 684 | |||||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Government-Sponsored Enterprises Debt Obligations [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Trading Securities | 0 | 0 | ||||
Interest-rate swaps [Member] | Fair Value, Recurring [Member] | ||||||
Assets: | ||||||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | 413 | 304 | ||||
Liabilities: | ||||||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | (571) | (215) | ||||
Interest-rate swaps [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Assets: | ||||||
Derivative assets | 0 | 0 | ||||
Liabilities: | ||||||
Derivative liabilities | 0 | 0 | ||||
Interest-rate swaps [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Assets: | ||||||
Derivative assets | 27 | 76 | ||||
Liabilities: | ||||||
Derivative liabilities | 580 | 222 | ||||
Interest-rate swaps [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Assets: | ||||||
Derivative assets | 0 | 0 | ||||
Liabilities: | ||||||
Derivative liabilities | 0 | 0 | ||||
Estimate of Fair Value Measurement [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Trading Securities | 1,563 | 1,558 | ||||
Assets: | ||||||
Available-for-sale Securities | 684 | |||||
Derivative assets | 440 | 380 | ||||
Grantor trust assets (included in Other assets) | 71 | 68 | ||||
Liabilities: | ||||||
Derivative liabilities | 9 | 7 | ||||
Estimate of Fair Value Measurement [Member] | Fair Value, Recurring [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Trading Securities | 1,563 | 1,558 | ||||
Assets: | ||||||
Grantor trust assets (included in Other assets) | 71 | 68 | ||||
Total recurring assets at fair value | 2,074 | 2,690 | ||||
Liabilities: | ||||||
Total recurring liabilities at fair value | 9 | 7 | ||||
Estimate of Fair Value Measurement [Member] | Fair Value, Recurring [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||||||
Assets: | ||||||
Available-for-sale Securities | 684 | |||||
Estimate of Fair Value Measurement [Member] | Fair Value, Recurring [Member] | US Treasury Securities [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Trading Securities | 1,501 | 1,499 | ||||
Estimate of Fair Value Measurement [Member] | Fair Value, Recurring [Member] | Government-Sponsored Enterprises Debt Obligations [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Trading Securities | 62 | 59 | ||||
Estimate of Fair Value Measurement [Member] | Interest-rate swaps [Member] | Fair Value, Recurring [Member] | ||||||
Assets: | ||||||
Derivative assets | 440 | 380 | ||||
Liabilities: | ||||||
Derivative liabilities | $ 9 | $ 7 | ||||
|
Estimated Fair Values (Roll-forward of Level 3 Assets and Liabilities) (Details) - Fair Value, Recurring [Member] - Fair Value, Inputs, Level 3 [Member] - Available-for-Sale Securities, Private Label Residential Mortgage Backed Securities [Member] - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2020 |
Sep. 30, 2019 |
Sep. 30, 2020 |
Sep. 30, 2019 |
||||||
Reconciliation of Available-For-Sale Securities Measured at Fair Value | |||||||||
Balance, beginning of year | $ 0 | $ 777 | $ 684 | $ 865 | |||||
Net realized gains from sale of available-for-sale securities | [1] | 0 | 0 | 82 | |||||
Net impairment losses recognized in earnings | 0 | (4) | [1] | 0 | [1] | (7) | [1] | ||
Included in other comprehensive income | 0 | (8) | [1] | (41) | [1] | (24) | [1] | ||
Accretion of credit losses in net interest income | 0 | 13 | [1] | 1 | [1] | 40 | [1] | ||
Sales | 0 | 0 | (726) | 0 | |||||
Settlements | 0 | (51) | 0 | (147) | |||||
Balance, end of year | $ 0 | $ 727 | $ 0 | $ 727 | |||||
|
Estimated Fair Values (Fair Value Summary) (Details) - USD ($) $ in Millions |
Sep. 30, 2020 |
Dec. 31, 2019 |
||||
---|---|---|---|---|---|---|
Assets: | ||||||
Cash and Due from Banks | $ 4,186 | $ 911 | ||||
Trading Securities | 1,563 | 1,558 | ||||
Available-for-sale Securities | 0 | 684 | ||||
Held-to-maturity securities | 23,729 | 25,939 | ||||
Held-to-maturity securities, fair value | 23,821 | 25,903 | ||||
Interest Receivable | 97 | 259 | ||||
Derivative assets | 440 | 380 | ||||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | [1],[2] | 413 | 304 | |||
Liabilities: | ||||||
Interest Payable | 60 | 212 | ||||
Derivative liabilities | 9 | 7 | ||||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | [1],[2] | (571) | (215) | |||
Fair Value, Inputs, Level 1 [Member] | ||||||
Assets: | ||||||
Cash and Due from Banks | 4,186 | 911 | ||||
Interest-bearing Deposits, Fair Value Disclosure | 0 | 0 | ||||
Securities purchased under agreements to resell | 0 | |||||
Federal funds sold | 0 | 0 | ||||
Trading Securities | 0 | 0 | ||||
Available-for-sale Securities | 0 | |||||
Held-to-maturity securities, fair value | 0 | 0 | ||||
Advances | 0 | |||||
Mortgage loans held for portfolio, net | 0 | 0 | ||||
Loan to another FHLBank | 0 | |||||
Interest Receivable | 0 | 0 | ||||
Derivative assets | 0 | 0 | ||||
Grantor trust assets (included in Other assets) | 71 | 68 | ||||
Liabilities: | ||||||
Interest-bearing deposits | 0 | 0 | ||||
Mandatorily redeemable capital stock | 1 | 1 | ||||
Interest Payable | 0 | 0 | ||||
Derivative liabilities | 0 | 0 | ||||
Fair Value, Inputs, Level 2 [Member] | ||||||
Assets: | ||||||
Cash and Due from Banks | 0 | 0 | ||||
Interest-bearing Deposits, Fair Value Disclosure | 1,398 | 3,810 | ||||
Securities purchased under agreements to resell | 8,800 | |||||
Federal funds sold | 8,565 | 9,826 | ||||
Trading Securities | 1,563 | 1,558 | ||||
Available-for-sale Securities | 0 | |||||
Held-to-maturity securities, fair value | 23,821 | 25,711 | ||||
Advances | 97,365 | |||||
Mortgage loans held for portfolio, net | 59,232 | 324 | ||||
Loan to another FHLBank | 258 | |||||
Accrued Interest Receivable, Fair Value Disclosure | 97 | 259 | ||||
Derivative assets | 27 | 76 | ||||
Grantor trust assets (included in Other assets) | 0 | 0 | ||||
Liabilities: | ||||||
Interest-bearing deposits | 1,967 | 1,492 | ||||
Mandatorily redeemable capital stock | 0 | 0 | ||||
Interest Payable | 60 | 212 | ||||
Derivative liabilities | 580 | 222 | ||||
Fair Value, Inputs, Level 3 [Member] | ||||||
Assets: | ||||||
Cash and Due from Banks | 0 | 0 | ||||
Interest-bearing Deposits, Fair Value Disclosure | 0 | 0 | ||||
Securities purchased under agreements to resell | 0 | |||||
Federal funds sold | 0 | 0 | ||||
Trading Securities | 0 | 0 | ||||
Available-for-sale Securities | 684 | |||||
Held-to-maturity securities, fair value | 0 | 192 | ||||
Advances | 0 | |||||
Mortgage loans held for portfolio, net | 0 | 0 | ||||
Loan to another FHLBank | 0 | |||||
Interest Receivable | 0 | 0 | ||||
Derivative assets | 0 | 0 | ||||
Grantor trust assets (included in Other assets) | 0 | 0 | ||||
Liabilities: | ||||||
Interest-bearing deposits | 0 | 0 | ||||
Mandatorily redeemable capital stock | 0 | 0 | ||||
Interest Payable | 0 | 0 | ||||
Derivative liabilities | 0 | 0 | ||||
Carrying Value [Member] | ||||||
Assets: | ||||||
Cash and Due from Banks | 4,186 | 911 | ||||
Interest-bearing Deposits, Fair Value Disclosure | 1,398 | 3,810 | ||||
Securities purchased under agreements to resell | 8,800 | |||||
Federal funds sold | 8,565 | 9,826 | ||||
Trading Securities | 1,563 | 1,558 | ||||
Available-for-sale Securities | 684 | |||||
Held-to-maturity securities | 23,729 | 25,939 | ||||
Advances | 97,167 | |||||
Mortgage loans held for portfolio, net | 58,802 | 296 | ||||
Loan to another FHLBank | 242 | |||||
Interest Receivable | 97 | 259 | ||||
Derivative assets | 440 | 380 | ||||
Grantor trust assets (included in Other assets) | 71 | 68 | ||||
Liabilities: | ||||||
Interest-bearing deposits | 1,967 | 1,492 | ||||
Mandatorily redeemable capital stock | 1 | 1 | ||||
Interest Payable | 60 | 212 | ||||
Derivative liabilities | 9 | 7 | ||||
Estimate of Fair Value Measurement [Member] | ||||||
Assets: | ||||||
Cash and Due from Banks | 4,186 | 911 | ||||
Interest-bearing Deposits, Fair Value Disclosure | 1,398 | 3,810 | ||||
Securities purchased under agreements to resell | 8,800 | |||||
Federal funds sold | 8,565 | 9,826 | ||||
Trading Securities | 1,563 | 1,558 | ||||
Available-for-sale Securities | 684 | |||||
Held-to-maturity securities, fair value | 23,821 | 25,903 | ||||
Advances | 59,232 | 97,365 | ||||
Mortgage loans held for portfolio, net | 258 | 324 | ||||
Accrued Interest Receivable, Fair Value Disclosure | 97 | 259 | ||||
Derivative assets | 440 | 380 | ||||
Grantor trust assets (included in Other assets) | 71 | 68 | ||||
Liabilities: | ||||||
Interest-bearing deposits | 1,967 | 1,492 | ||||
Mandatorily redeemable capital stock | 1 | 1 | ||||
Accrued Interest Payable, Fair Value Disclosure | 60 | 212 | ||||
Derivative liabilities | 9 | 7 | ||||
Discount Notes | Fair Value, Inputs, Level 1 [Member] | ||||||
Liabilities: | ||||||
Discount notes | 0 | 0 | ||||
Discount Notes | Fair Value, Inputs, Level 2 [Member] | ||||||
Liabilities: | ||||||
Discount notes | 35,527 | 52,138 | ||||
Discount Notes | Fair Value, Inputs, Level 3 [Member] | ||||||
Liabilities: | ||||||
Discount notes | 0 | 0 | ||||
Discount Notes | Carrying Value [Member] | ||||||
Liabilities: | ||||||
Discount notes | 35,519 | 52,134 | ||||
Discount Notes | Estimate of Fair Value Measurement [Member] | ||||||
Liabilities: | ||||||
Discount notes | 35,527 | 52,138 | ||||
Consolidated Obligation Bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Liabilities: | ||||||
Bonds | 0 | 0 | ||||
Consolidated Obligation Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Liabilities: | ||||||
Bonds | 69,336 | 88,764 | ||||
Consolidated Obligation Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Liabilities: | ||||||
Bonds | 0 | 0 | ||||
Consolidated Obligation Bonds [Member] | Carrying Value [Member] | ||||||
Liabilities: | ||||||
Bonds | 68,858 | 88,503 | ||||
Consolidated Obligation Bonds [Member] | Estimate of Fair Value Measurement [Member] | ||||||
Liabilities: | ||||||
Bonds | 69,336 | 88,764 | ||||
Fair Value, Recurring [Member] | ||||||
Assets: | ||||||
Securities purchased under agreements to resell | 0 | |||||
Trading Securities | 0 | 0 | ||||
Available-for-sale Securities | 0 | |||||
Held-to-maturity securities, fair value | 0 | 0 | ||||
Grantor trust assets (included in Other assets) | 0 | 0 | ||||
Liabilities: | ||||||
Mandatorily redeemable capital stock | 0 | 0 | ||||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | [1] | (571) | (215) | |||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Assets: | ||||||
Trading Securities | 0 | 0 | ||||
Grantor trust assets (included in Other assets) | 71 | 68 | ||||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Assets: | ||||||
Trading Securities | 1,563 | 1,558 | ||||
Grantor trust assets (included in Other assets) | 0 | 0 | ||||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Assets: | ||||||
Trading Securities | 0 | 0 | ||||
Grantor trust assets (included in Other assets) | 0 | 0 | ||||
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||||||
Assets: | ||||||
Trading Securities | 1,563 | 1,558 | ||||
Grantor trust assets (included in Other assets) | 71 | 68 | ||||
Interest rate swap [Member] | Fair Value, Recurring [Member] | ||||||
Assets: | ||||||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | 413 | 304 | ||||
Liabilities: | ||||||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | (571) | (215) | ||||
Interest rate swap [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Assets: | ||||||
Derivative assets | 0 | 0 | ||||
Liabilities: | ||||||
Derivative liabilities | 0 | 0 | ||||
Interest rate swap [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Assets: | ||||||
Derivative assets | 27 | 76 | ||||
Liabilities: | ||||||
Derivative liabilities | 580 | 222 | ||||
Interest rate swap [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||
Assets: | ||||||
Derivative assets | 0 | 0 | ||||
Liabilities: | ||||||
Derivative liabilities | 0 | 0 | ||||
Interest rate swap [Member] | Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||||||
Assets: | ||||||
Derivative assets | 440 | 380 | ||||
Liabilities: | ||||||
Derivative liabilities | $ 9 | $ 7 | ||||
|
Commitments and Contingencies (Details) $ in Millions |
Sep. 30, 2020
USD ($)
letter_of_credit
|
Dec. 31, 2019
USD ($)
letter_of_credit
|
||||
---|---|---|---|---|---|---|
Standby Letters of Credit [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Number Of Outstanding Standby Letters Of Credit Renewable Annually | letter_of_credit | 14 | 13 | ||||
Standby Letters Of Credit Issued Renewable Annually | $ 19 | $ 36 | ||||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | [1] | 8,284 | 8,532 | |||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | 7,871 | 23,973 | ||||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 16,155 | 32,505 | ||||
Commitments to Fund Additional Advances [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | 10 | 0 | ||||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | 10 | 0 | ||||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 20 | 0 | ||||
Unsettled Discount Notes [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | [2] | 0 | 2,000 | |||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | [2] | 0 | 0 | |||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | $ 0 | $ 2,000 | ||||
|
Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions |
Sep. 30, 2020 |
Dec. 31, 2019 |
---|---|---|
Loss Contingencies [Line Items] | ||
The FHLBank's outstanding consolidated obligations for which the Bank is jointly and severally liable | $ 715,531 | $ 885,114 |
Other liabilities | 143 | 256 |
Standby Letters of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Other liabilities | $ 34 | $ 117 |
Transactions With Shareholders (Details) - USD ($) $ in Millions |
Sep. 30, 2020 |
Dec. 31, 2019 |
||
---|---|---|---|---|
Minimum | ||||
Definition of related party, minimum percent | 10.00% | |||
Definition of shareholder concentration, percentage | 10.00% | |||
Regulatory Capital Stock Outstanding | [1] | $ 5,540 | $ 7,142 | |
Federal Home Loan Bank, Advances, Par Value | $ 56,961 | 96,456 | ||
Truist Bank [Member] | ||||
Minimum | ||||
Regulatory Capital Stock Outstanding | $ 760 | |||
Percent of Total Regulatory Capital Stock Outstanding | 15.24% | |||
Federal Home Loan Bank, Advances, Par Value | $ 17,537 | |||
Percent of Total Par Value Advances | 18.18% | |||
Interest-bearing Deposits | $ 0 | |||
Percent of Total Interest-bearing Deposits | 0.00% | |||
|
Subsequent (Details) $ in Millions |
Nov. 03, 2020
USD ($)
|
---|---|
Subsequent Event [Member] | |
Subsequent Event [Line Items] | |
Payments of Dividends | $ 35 |
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