Federally chartered corporation | ||||||||
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
None | N/A | N/A |
Large accelerated filer | ☐ | Accelerated filer | ☐ | |||||||||||
☒ | Smaller reporting company | |||||||||||||
Emerging growth company |
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 March 31, 2022 | As of December 31, 2021 | ||||||||||
Assets | |||||||||||
Cash and due from banks | $ | $ | |||||||||
Interest-bearing deposits (including deposits with other FHLBanks of $3 as of March 31, 2022 and December 31, 2021) | |||||||||||
Securities purchased under agreements to resell | |||||||||||
Federal funds sold | |||||||||||
Investment securities: | |||||||||||
Available-for-sale securities (amortized cost of $2,648 as of March 31, 2022 and December 31, 2021) | |||||||||||
Held-to-maturity securities (fair value of $15,492 and $15,099 as of March 31, 2022 and December 31, 2021, respectively) | |||||||||||
Total investment securities | |||||||||||
Advances | |||||||||||
Mortgage loans held for portfolio, net | |||||||||||
Accrued interest receivable | |||||||||||
Derivative assets | |||||||||||
Other assets, net | |||||||||||
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 | |||||||||||
Capital | |||||||||||
Capital stock Class B putable ($100 par value) issued and outstanding shares: | |||||||||||
Subclass B1 issued and outstanding shares: 7,272,484 and 7,143,718 as of March 31, 2022 and December 31, 2021, respectively | |||||||||||
Subclass B2 issued and outstanding shares: 19,214,757 and 16,681,827 as of March 31, 2022 and December 31, 2021, respectively | |||||||||||
Subclass B3 issued and outstanding shares: 67,541 and 0 as of March 31, 2022 and December 31, 2021, respectively | |||||||||||
Total capital stock Class B putable | |||||||||||
Retained earnings: | |||||||||||
Restricted | |||||||||||
Unrestricted | |||||||||||
Total retained earnings | |||||||||||
Accumulated other comprehensive loss | ( | ( | |||||||||
Total capital | |||||||||||
Total liabilities and capital | $ | $ |
For the Three Months Ended March 31, | |||||||||||
2022 | 2021 | ||||||||||
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 | |||||||||||
Total interest expense | |||||||||||
Net interest income | |||||||||||
Noninterest income (loss) | |||||||||||
Net losses on trading securities | ( | ||||||||||
Net gains on derivatives | |||||||||||
Standby letters of credit fees | |||||||||||
Gain on litigation settlements, net | |||||||||||
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 March 31, | |||||||||||
2022 | 2021 | ||||||||||
Net income | $ | $ | |||||||||
Other comprehensive (loss) income: | |||||||||||
Net unrealized losses on available-for-sale securities | ( | ||||||||||
Pension and postretirement benefits | |||||||||||
Total other comprehensive (loss) income | ( | ||||||||||
Total comprehensive income | $ | $ |
Capital Stock Class B Putable | Retained Earnings | Accumulated Other Comprehensive Loss | Total Capital | ||||||||||||||||||||||||||||||||||||||
Shares | Par Value | Restricted | Unrestricted | Total | |||||||||||||||||||||||||||||||||||||
Balance, December 31, 2020 | $ | $ | $ | $ | $ | ( | $ | ||||||||||||||||||||||||||||||||||
Issuance of capital stock | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Repurchase/redemption of capital stock | ( | ( | — | — | — | — | ( | ||||||||||||||||||||||||||||||||||
Comprehensive income | — | — | |||||||||||||||||||||||||||||||||||||||
Cash dividends on capital stock | — | — | ( | ( | — | ( | |||||||||||||||||||||||||||||||||||
Balance, March 31, 2021 | $ | $ | $ | $ | $ | ( | $ | ||||||||||||||||||||||||||||||||||
Balance, December 31, 2021 | $ | $ | $ | $ | $ | ( | $ | ||||||||||||||||||||||||||||||||||
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, March 31, 2022 | $ | $ | $ | $ | $ | ( | $ |
For the Three Months Ended March 31, | |||||||||||
2022 | 2021 | ||||||||||
Operating activities | |||||||||||
Net income | $ | $ | |||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation and amortization (accretion) | ( | ( | |||||||||
Net change in derivative and hedging activities | |||||||||||
Net change in fair value adjustment on trading securities | |||||||||||
Net change in: | |||||||||||
Accrued interest receivable | |||||||||||
Other assets | |||||||||||
Affordable Housing Program payable | ( | ( | |||||||||
Accrued interest payable | |||||||||||
Other liabilities | ( | ( | |||||||||
Total adjustments | |||||||||||
Net cash provided by operating activities | |||||||||||
Investing activities | |||||||||||
Net change in: | |||||||||||
Interest-bearing deposits | ( | ||||||||||
Securities purchased under agreements to resell | |||||||||||
Federal funds sold | ( | ( | |||||||||
Trading securities: | |||||||||||
Proceeds from sales | |||||||||||
Proceeds from principal collected | |||||||||||
Held-to-maturity securities: | |||||||||||
Proceeds from principal collected | |||||||||||
Purchases of long-term | ( | ||||||||||
Advances: | |||||||||||
Proceeds from principal collected | |||||||||||
Made | ( | ( | |||||||||
Mortgage loans: | |||||||||||
Proceeds from principal collected | |||||||||||
Purchases of premises, equipment, and software | ( | ( | |||||||||
Net cash (used in) provided by investing activities | ( | ||||||||||
FEDERAL HOME LOAN BANK OF ATLANTA STATEMENTS OF CASH FLOWS—(Continued) (Unaudited) (Dollars in millions) | |||||||||||
For the Three Months Ended March 31, | |||||||||||
2022 | 2021 | ||||||||||
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 | ( | ||||||||||
Cash dividends paid | ( | ( | |||||||||
Net cash provided by (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 | |||||||||||||||||
Fair Value Hedging - Portfolio Layer Method (ASU 2022-01) | This guidance expands the current single-layer hedging method to allow multiple hedged layers of a single closed portfolio. | January 1, 2023 | This guidance is not expected to have any impact on the Bank's financial condition or results of operations. | |||||||||||||||||
Troubled Debt Restructurings and Vintage Disclosures (ASU 2022-02) | This guidance eliminates the accounting guidance for troubled debt restructurings by creditors that have adopted the current expected credit loss methodology while enhancing disclosure requirement for certain loan refinancings and restructurings by creditors made to borrowers experiencing financial difficulty. | January 1, 2023 | This guidance is not expected to have a material impact on the Bank's financial condition or results of operations. |
Amortized Cost (1) | Gross Unrealized Gains | Gross Unrealized Losses | Estimated Fair Value | ||||||||||||||||||||
As of March 31, 2022 | $ | $ | $ | ( | $ | ||||||||||||||||||
As of December 31, 2021 | $ | $ | $ | ( | $ |
Less than 12 Months | |||||||||||
Estimated Fair Value | Gross Unrealized Losses | ||||||||||
As of March 31, 2022 | $ | $ | ( | ||||||||
As of December 31, 2021 | $ | $ | ( |
As of March 31, 2022 | As of December 31, 2021 | ||||||||||||||||||||||
Amortized Cost (1) | Estimated Fair Value | Amortized Cost (1) | Estimated Fair Value | ||||||||||||||||||||
Due after one year through five years | $ | $ | $ | $ | |||||||||||||||||||
As of March 31, 2022 | As of December 31, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | ( | ( | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | ( | $ | $ | $ | $ | ( | $ |
As of March 31, 2022 | As of December 31, 2021 | ||||||||||||||||||||||
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 | $ | $ | $ | $ |
As of March 31, 2022 | As of December 31, 2021 | ||||||||||
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 March 31, 2022 | As of December 31, 2021 | ||||||||||
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 March 31, 2022 | As of December 31, 2021 | ||||||||||
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 March 31, 2022 | As of December 31, 2021 | |||||||||||||
Medium-term (15 years or less) | $ | $ | ||||||||||||
Long-term (greater than 15 years) | ||||||||||||||
Total unpaid principal balance | ||||||||||||||
Discounts | ( | |||||||||||||
Total mortgage loans held for portfolio (1) | ||||||||||||||
Allowance for credit losses on mortgage loans (2) | ||||||||||||||
Mortgage loans held for portfolio, net | $ | $ |
As of March 31, 2022 | As of December 31, 2021 | |||||||||||||
Conventional mortgage loans | $ | $ | ||||||||||||
Government-guaranteed or insured mortgage loans | ||||||||||||||
Total unpaid principal balance | $ | $ |
For the Three Months Ended March 31, | ||||||||||||||
2022(1) | 2021 | |||||||||||||
Balance, beginning of period | $ | $ | ||||||||||||
Provision for credit losses | ||||||||||||||
Balance, end of period | $ | $ |
As of March 31, 2022 | |||||||||||
Origination Year | |||||||||||
Prior to 2018 | Total | ||||||||||
Payment status, at amortized cost:(1) | |||||||||||
Past due 30-59 days | $ | $ | |||||||||
Past due 60-89 days (2) | |||||||||||
Past due 90 days or more | |||||||||||
Total past due mortgage loans | |||||||||||
Current mortgage loans | |||||||||||
Total conventional mortgage loans | $ | $ |
As of December 31, 2021 | |||||||||||||||||
Origination Year | |||||||||||||||||
2017(2) | Prior to 2017 | 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 March 31, 2022 | |||||||||||||||||
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, 2021 | |||||||||||||||||
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 March 31, 2022 | As of December 31, 2021 | ||||||||||
Fixed-rate | $ | $ | |||||||||
Simple variable-rate | |||||||||||
Step up/down | |||||||||||
Total par value | $ | $ |
As of March 31, 2022 | As of December 31, 2021 | ||||||||||||||||||||||
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 March 31, 2022 | As of December 31, 2021 | ||||||||||
Callable | $ | $ | |||||||||
Noncallable | |||||||||||
Total par value | $ | $ |
As of March 31, 2022 | As of December 31, 2021 | ||||||||||
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 March 31, 2022 | $ | $ | |||||||||||||||
As of December 31, 2021 | $ | $ |
As of March 31, 2022 | As of December 31, 2021 | ||||||||||||||||||||||
Required | Actual | Required | Actual | ||||||||||||||||||||
Risk-based capital | $ | $ | $ | $ | |||||||||||||||||||
Total regulatory capital ratio | % | % | % | % | |||||||||||||||||||
Total regulatory capital (1) | $ | $ | $ | $ | |||||||||||||||||||
Leverage capital ratio | % | % | % | % | |||||||||||||||||||
Leverage capital | $ | $ | $ | $ |
2022 | 2021 | |||||||||||||||||||||||||
Amount | Annualized Rate (%) | Amount | Annualized Rate (%) | |||||||||||||||||||||||
First quarter | $ | $ | ||||||||||||||||||||||||
Net Unrealized Gains (Losses) on Available-for-sale Securities | Pension and Postretirement Benefits | Total Accumulated Other Comprehensive Loss | |||||||||||||||
Balance, December 31, 2020 | $ | $ | ( | $ | ( | ||||||||||||
Reclassification from accumulated other comprehensive income to net income: | — | ||||||||||||||||
Amortization of pension and postretirement (1) | |||||||||||||||||
Net current period other comprehensive income | |||||||||||||||||
Balance, March 31, 2021 | $ | $ | ( | $ | ( | ||||||||||||
Balance, December 31, 2021 | $ | ( | $ | ( | $ | ( | |||||||||||
Other comprehensive income before reclassifications: | |||||||||||||||||
Net unrealized losses on available-for-sale securities | ( | ( | |||||||||||||||
Net current period other comprehensive loss | ( | ( | |||||||||||||||
Balance, March 31, 2022 | $ | ( | $ | ( | $ | ( |
As of March 31, 2022 | As of December 31, 2021 | ||||||||||||||||||||||||||||||||||
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 March 31, | ||||||||||||||||||||||||||
2022 | 2021 | |||||||||||||||||||||||||
Interest Income (Expense) | ||||||||||||||||||||||||||
Advances | Consolidated Obligation Bonds | Advances | Consolidated Obligation Bonds | |||||||||||||||||||||||
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 income effect from fair value hedging relationships | $ | ( | $ | $ | ( | $ |
As of March 31, 2022 | As of December 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||
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 | Total 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 | Total Amount of Fair Value Hedging Basis Adjustments | ||||||||||||||||||||||||||||||||||||||||||
Advances | $ | $ | ( | $ | $ | ( | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||
Consolidated obligations: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Bonds | ( | ( | ( | ( | ( | |||||||||||||||||||||||||||||||||||||||||||||
For the Three Months Ended March 31, | ||||||||||||||
2022 | 2021 | |||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||
Interest-rate swaps | $ | $ | ||||||||||||
Interest-rate caps or floors | ||||||||||||||
Net gains on derivatives | $ | $ | ||||||||||||
As of March 31, 2022 | As of December 31, 2021 | ||||||||||||||||||||||
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 March 31, 2022 | |||||||||||||||||||||||||||||
Estimated Fair Value | |||||||||||||||||||||||||||||
Carrying Value | Total | Level 1 | Level 2 | Netting Adjustments and Cash Collateral (2) | |||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||
Cash and due from banks | $ | $ | $ | $ | $ | — | |||||||||||||||||||||||
Interest-bearing deposits | — | ||||||||||||||||||||||||||||
Securities purchased under agreements to resell | |||||||||||||||||||||||||||||
Federal funds sold | — | ||||||||||||||||||||||||||||
Available-for-sale securities (1) | |||||||||||||||||||||||||||||
Held-to-maturity securities | |||||||||||||||||||||||||||||
Advances | — | ||||||||||||||||||||||||||||
Mortgage loans held for portfolio, net | — | ||||||||||||||||||||||||||||
Accrued interest receivable | — | ||||||||||||||||||||||||||||
Derivative (1) | |||||||||||||||||||||||||||||
Grantor trust assets (included in Other assets) (1) | — | ||||||||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||
Interest-bearing deposits | — | ||||||||||||||||||||||||||||
Consolidated obligations, net: | |||||||||||||||||||||||||||||
Discount notes | — | ||||||||||||||||||||||||||||
Bonds | — | ||||||||||||||||||||||||||||
Accrued interest payable | — | ||||||||||||||||||||||||||||
Derivative liabilities (1) | ( |
As of December 31, 2021 | |||||||||||||||||||||||||||||
Estimated Fair Value | |||||||||||||||||||||||||||||
Carrying Value | Total | Level 1 | Level 2 | Netting Adjustments and Cash Collateral (2) | |||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||
Cash and due from banks | $ | $ | $ | $ | $ | — | |||||||||||||||||||||||
Interest-bearing deposits | — | ||||||||||||||||||||||||||||
Securities purchased under agreements to resell | |||||||||||||||||||||||||||||
Federal funds sold | — | ||||||||||||||||||||||||||||
Available-for-sale securities (1) | |||||||||||||||||||||||||||||
Held-to-maturity securities | |||||||||||||||||||||||||||||
Advances | — | ||||||||||||||||||||||||||||
Mortgage loans held for portfolio, net | — | ||||||||||||||||||||||||||||
Accrued interest receivable | — | ||||||||||||||||||||||||||||
Derivative assets (1) | |||||||||||||||||||||||||||||
Grantor trust assets (included in Other assets) (1) | — | ||||||||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||
Interest-bearing deposits | — | ||||||||||||||||||||||||||||
Consolidated obligations, net: | |||||||||||||||||||||||||||||
Discount notes | — | ||||||||||||||||||||||||||||
Bonds | — | ||||||||||||||||||||||||||||
Mandatorily redeemable capital stock | |||||||||||||||||||||||||||||
Accrued interest payable | — | ||||||||||||||||||||||||||||
Derivative liabilities (1) | ( |
As of March 31, 2022 | As of December 31, 2021 | |||||||||||||||||||||||||||||||||||||
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 bonds, at par (2) | ||||||||||||||||||||||||||||||||||||||
Unsettled consolidated obligation discount notes, at par (2) |
As of March 31, 2022 | |||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||
Bank of America, National Association | $ | $ | $ | ||||||||||||||||||||||||||||||||
As of December 31, 2021 | |||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||
Bank of America, National Association | $ | $ | $ | ||||||||||||||||||||||||||||||||
TIAA, FSB |
Change | |||||||||||||||||||||||
As of March 31, 2022 | As of December 31, 2021 | Amount | Percent | ||||||||||||||||||||
Total assets | $ | 84,450 | $ | 78,746 | $ | 5,704 | 7.24 | ||||||||||||||||
Total liabilities | 79,591 | 74,151 | 5,440 | 7.34 | |||||||||||||||||||
Total capital | 4,859 | 4,595 | 264 | 5.74 |
For the Three Months Ended March 31, | Change | |||||||||||||||||||||||||
2022 | 2021 | Amount | Percent | |||||||||||||||||||||||
Net interest income | $ | 68 | $ | 79 | $ | (11) | (14.18) | |||||||||||||||||||
Noninterest income | 6 | 4 | 2 | 54.95 | ||||||||||||||||||||||
Noninterest expense | 34 | 36 | (2) | (6.53) | ||||||||||||||||||||||
Affordable Housing Program assessment | 4 | 4 | — | (14.31) | ||||||||||||||||||||||
Net income | $ | 36 | $ | 43 | $ | (7) | (14.39) |
For the Three Months Ended March 31, | ||||||||||||||||||||
2022 | 2021 | Change | ||||||||||||||||||
Return on average equity (ROE) | 3.19 | % | 3.35 | % | (0.16) | |||||||||||||||
ROE spread to average daily SOFR | 3.10 | 3.31 | (0.21) | |||||||||||||||||
Interest-rate spread | 0.33 | 0.34 | (0.01) |
As of March 31, 2022 | As of December 31, 2021 | Change | |||||||||||||||||||||||||||||||||
Amount | Percent of Total | Amount | Percent of Total | Amount | Percent | ||||||||||||||||||||||||||||||
Advances | $ | 51,538 | 61.03 | $ | 45,415 | 57.67 | $ | 6,123 | 13.48 | ||||||||||||||||||||||||||
Investment securities | 18,230 | 21.59 | 17,713 | 22.49 | 517 | 2.92 | |||||||||||||||||||||||||||||
Other investments | 13,175 | 15.60 | 14,108 | 17.92 | (933) | (6.62) | |||||||||||||||||||||||||||||
Mortgage loans, net | 139 | 0.16 | 149 | 0.19 | (10) | (6.91) | |||||||||||||||||||||||||||||
Other assets | 1,368 | 1.62 | 1,361 | 1.73 | 7 | 0.59 | |||||||||||||||||||||||||||||
Total assets | $ | 84,450 | 100.00 | $ | 78,746 | 100.00 | $ | 5,704 | 7.24 | ||||||||||||||||||||||||||
Consolidated obligations, net: | |||||||||||||||||||||||||||||||||||
Discount notes | $ | 27,228 | 34.21 | $ | 25,506 | 34.40 | $ | 1,722 | 6.75 | ||||||||||||||||||||||||||
Bonds | 49,407 | 62.08 | 46,186 | 62.29 | 3,221 | 6.97 | |||||||||||||||||||||||||||||
Deposits | 2,158 | 2.71 | 2,054 | 2.77 | 104 | 5.09 | |||||||||||||||||||||||||||||
Other liabilities | 798 | 1.00 | 405 | 0.54 | 393 | 97.22 | |||||||||||||||||||||||||||||
Total liabilities | $ | 79,591 | 100.00 | $ | 74,151 | 100.00 | $ | 5,440 | 7.34 | ||||||||||||||||||||||||||
Capital stock | $ | 2,656 | 54.65 | $ | 2,383 | 51.85 | $ | 273 | 11.46 | ||||||||||||||||||||||||||
Retained earnings | 2,242 | 46.15 | 2,228 | 48.49 | 14 | 0.64 | |||||||||||||||||||||||||||||
Accumulated other comprehensive loss | (39) | (0.80) | (16) | (0.34) | (23) | 148.55 | |||||||||||||||||||||||||||||
Total capital | $ | 4,859 | 100.00 | $ | 4,595 | 100.00 | $ | 264 | 5.74 |
As of March 31, 2022 | As of December 31, 2021 | ||||||||||||||||||||||
Amount | Percent of Total | Amount | Percent of Total | ||||||||||||||||||||
Fixed rate (1) | $ | 33,372 | 64.47 | $ | 29,288 | 65.19 | |||||||||||||||||
Adjustable or variable-rate indexed | 13,721 | 26.50 | 9,813 | 21.84 | |||||||||||||||||||
Convertible | 4,180 | 8.08 | 5,307 | 11.81 | |||||||||||||||||||
Principal reducing credit | 494 | 0.95 | 519 | 1.16 | |||||||||||||||||||
Total par value | $ | 51,767 | 100.00 | $ | 44,927 | 100.00 |
Change | |||||||||||||||||||||||
As of March 31, 2022 | As of December 31, 2021 | Amount | Percent | ||||||||||||||||||||
Available-for-sale securities: | |||||||||||||||||||||||
U. S. Treasury obligations | $ | 2,616 | $ | 2,639 | $ | (23) | (0.88) | ||||||||||||||||
Held-to-maturity securities: | |||||||||||||||||||||||
State or local housing agency debt obligations | 1 | 1 | — | — | |||||||||||||||||||
Government-sponsored enterprises debt obligations | 1,385 | 1,450 | (65) | (4.48) | |||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||
U.S. agency obligations-guaranteed residential | 203 | 221 | (18) | (8.12) | |||||||||||||||||||
Government-sponsored enterprises residential | 4,563 | 4,927 | (364) | (7.38) | |||||||||||||||||||
Government-sponsored enterprises commercial | 9,462 | 8,475 | 987 | 11.65 | |||||||||||||||||||
Total mortgage-backed securities | 14,228 | 13,623 | 605 | 4.45 | |||||||||||||||||||
Total held-to-maturity securities | 15,614 | 15,074 | 540 | 3.59 | |||||||||||||||||||
Total investment securities | 18,230 | 17,713 | 517 | 2.92 | |||||||||||||||||||
Interest-bearing deposits | 689 | 688 | 1 | 0.03 | |||||||||||||||||||
Securities purchased under agreements to resell | 3,750 | 7,000 | (3,250) | (46.43) | |||||||||||||||||||
Federal funds sold (1) | 8,736 | 6,420 | 2,316 | 36.07 | |||||||||||||||||||
Total other investments | 13,175 | 14,108 | (933) | (6.62) | |||||||||||||||||||
Total investments | $ | 31,405 | $ | 31,821 | $ | (416) | (1.31) | ||||||||||||||||
As of March 31, 2022 | As of December 31, 2021 | ||||||||||
Florida | 22.72 | 23.14 | |||||||||
South Carolina | 22.30 | 22.45 | |||||||||
Virginia | 11.16 | 10.92 | |||||||||
Georgia | 11.03 | 11.41 | |||||||||
North Carolina | 8.32 | 8.47 | |||||||||
All other | 24.47 | 23.61 | |||||||||
Total | 100.00 | 100.00 |
For the Three Months Ended March 31, | Change | |||||||||||||||||||||||||
2022 | 2021 | Amount | Percent | |||||||||||||||||||||||
Net interest income | $ | 68 | $ | 79 | $ | (11) | (14.18) | |||||||||||||||||||
Noninterest income | 6 | 4 | 2 | 54.95 | ||||||||||||||||||||||
Noninterest expense | 34 | 36 | (2) | (6.53) | ||||||||||||||||||||||
Affordable Housing Program assessment | 4 | 4 | — | (14.31) | ||||||||||||||||||||||
Net income | $ | 36 | $ | 43 | $ | (7) | (14.39) |
For the Three Months Ended March 31, | |||||||||||||||||||||||||||||||||||
2022 | 2021 | ||||||||||||||||||||||||||||||||||
Average Balance | Interest | Yield/ Rate (%) | Average Balance | Interest | Yield/ Rate (%) | ||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||||
Interest-bearing deposits (1) | $ | 1,693 | $ | 1 | 0.16 | $ | 1,951 | $ | 1 | 0.13 | |||||||||||||||||||||||||
Securities purchased under agreements to resell | 2,875 | 1 | 0.10 | 7,804 | 1 | 0.07 | |||||||||||||||||||||||||||||
Federal funds sold | 10,802 | 3 | 0.12 | 8,659 | 2 | 0.08 | |||||||||||||||||||||||||||||
Investment securities (2) | 17,250 | 27 | 0.63 | 20,283 | 35 | 0.70 | |||||||||||||||||||||||||||||
Advances (3) | 46,779 | 63 | 0.55 | 51,038 | 87 | 0.70 | |||||||||||||||||||||||||||||
Mortgage loans (4) | 144 | 2 | 5.20 | 208 | 3 | 5.32 | |||||||||||||||||||||||||||||
Total interest-earning assets | 79,543 | 97 | 0.49 | 89,943 | 129 | 0.58 | |||||||||||||||||||||||||||||
Allowance for credit losses on mortgage loans | — | (1) | |||||||||||||||||||||||||||||||||
Other assets | 983 | 1,256 | |||||||||||||||||||||||||||||||||
Total assets | $ | 80,526 | $ | 91,198 | |||||||||||||||||||||||||||||||
Liabilities and Capital | |||||||||||||||||||||||||||||||||||
Interest-bearing deposits (5) | $ | 2,234 | — | 0.04 | $ | 2,307 | — | — | |||||||||||||||||||||||||||
Consolidated obligations, net: | |||||||||||||||||||||||||||||||||||
Discount notes | 26,034 | 7 | 0.11 | 21,847 | 5 | 0.10 | |||||||||||||||||||||||||||||
Bonds | 46,676 | 22 | 0.19 | 61,107 | 45 | 0.30 | |||||||||||||||||||||||||||||
Other borrowings | 10 | — | 1.58 | — | — | 2.25 | |||||||||||||||||||||||||||||
Total interest-bearing liabilities | 74,954 | 29 | 0.16 | 85,261 | 50 | 0.24 | |||||||||||||||||||||||||||||
Other liabilities | 939 | 776 | |||||||||||||||||||||||||||||||||
Total capital | 4,633 | 5,161 | |||||||||||||||||||||||||||||||||
Total liabilities and capital | $ | 80,526 | $ | 91,198 | |||||||||||||||||||||||||||||||
Net interest income and net yield on interest-earning assets | $ | 68 | 0.35 | $ | 79 | 0.36 | |||||||||||||||||||||||||||||
Interest-rate spread | 0.33 | 0.34 | |||||||||||||||||||||||||||||||||
Average interest-earning assets to interest-bearing liabilities | 106.12 | 105.49 |
For the Three Months Ended March 31, | ||||||||||||||||||||
2022 vs. 2021 | ||||||||||||||||||||
Volume (1) | Rate (1) | Net Change | ||||||||||||||||||
Change in interest income: | ||||||||||||||||||||
Securities purchased under agreements to resell | $ | (1) | $ | 1 | $ | — | ||||||||||||||
Federal funds sold | — | 1 | 1 | |||||||||||||||||
Investment securities | (5) | (3) | (8) | |||||||||||||||||
Advances | (6) | (18) | (24) | |||||||||||||||||
Mortgage loans | (1) | — | (1) | |||||||||||||||||
Total | (13) | (19) | (32) | |||||||||||||||||
Change in interest expense: | ||||||||||||||||||||
Consolidated obligations, net: | ||||||||||||||||||||
Discount notes | 1 | 1 | 2 | |||||||||||||||||
Bonds | (9) | (14) | (23) | |||||||||||||||||
Total | (8) | (13) | (21) | |||||||||||||||||
Change in net interest income | $ | (5) | $ | (6) | $ | (11) |
For the Three Months Ended March 31, 2022 | |||||||||||||||||||||||
Advances | Consolidated Obligation Bonds | Balance Sheet | Total | ||||||||||||||||||||
Effect on net interest income: | |||||||||||||||||||||||
Amortization or accretion of active hedging relationships | $ | (42) | $ | — | $ | — | $ | (42) | |||||||||||||||
Net changes in fair value hedges | 52 | 11 | — | 63 | |||||||||||||||||||
Net interest settlements on derivatives (1) | (59) | 53 | — | (6) | |||||||||||||||||||
Other (2) | (11) | — | — | (11) | |||||||||||||||||||
Total effect on net interest income | $ | (60) | $ | 64 | $ | — | $ | 4 | |||||||||||||||
Effect on noninterest income: | |||||||||||||||||||||||
Gains on derivatives not receiving hedge accounting including net interest settlements | $ | — | $ | — | $ | 1 | $ | 1 | |||||||||||||||
For the Three Months Ended March 31, 2021 | |||||||||||||||||||||||
Advances | Investments | Consolidated Obligation Bonds | Total | ||||||||||||||||||||
Effect on net interest income: | |||||||||||||||||||||||
Amortization or accretion of active hedging relationships | $ | (45) | $ | — | $ | — | $ | (45) | |||||||||||||||
Net changes in fair value hedges | 70 | — | 1 | 71 | |||||||||||||||||||
Net interest settlements on derivatives (1) | (94) | — | 10 | (84) | |||||||||||||||||||
Other (2) | (3) | — | — | (3) | |||||||||||||||||||
Total effect on net interest income | $ | (72) | $ | — | $ | 11 | $ | (61) | |||||||||||||||
Effect on noninterest income: | |||||||||||||||||||||||
Gains on derivatives not receiving hedge accounting including net interest settlements | $ | 1 | $ | 1 | $ | — | $ | 2 | |||||||||||||||
Net losses on trading securities (3) | — | (1) | — | (1) | |||||||||||||||||||
Total effect on noninterest income | $ | 1 | $ | — | $ | — | $ | 1 |
For the Three Months Ended March 31, | Change | |||||||||||||||||||||||||
2022 | 2021 | Amount | Percent | |||||||||||||||||||||||
Net losses on trading securities | $ | — | $ | (1) | $ | 1 | 100.00 | |||||||||||||||||||
Net gains on derivatives | 1 | 1 | — | (26.39) | ||||||||||||||||||||||
Standby letters of credit fees | 2 | 4 | (2) | (55.65) | ||||||||||||||||||||||
Gain on litigation settlements, net | 4 | — | 4 | 100.00 | ||||||||||||||||||||||
Other | (1) | — | (1) | (191.62) | ||||||||||||||||||||||
Total noninterest income | $ | 6 | $ | 4 | $ | 2 | 54.95 |
As of and for the Three Months Ended | |||||||||||||||||||||||||||||
March 31, 2022 | December 31, 2021 | September 30, 2021 | June 30, 2021 | March 31, 2021 | |||||||||||||||||||||||||
Statements of Condition (at period end) | |||||||||||||||||||||||||||||
Total assets | $ | 84,450 | $ | 78,746 | $ | 77,508 | $ | 78,904 | $ | 86,095 | |||||||||||||||||||
Advances | 51,538 | 45,415 | 43,779 | 47,075 | 49,463 | ||||||||||||||||||||||||
Investments (1) | 31,405 | 31,821 | 30,979 | 30,078 | 32,880 | ||||||||||||||||||||||||
Mortgage loans held for portfolio, net | 139 | 149 | 162 | 178 | 199 | ||||||||||||||||||||||||
Interest-bearing deposits | 2,158 | 2,054 | 2,308 | 2,623 | 2,713 | ||||||||||||||||||||||||
Consolidated obligations, net: | |||||||||||||||||||||||||||||
Discount notes (2) | 27,228 | 25,506 | 22,796 | 22,318 | 19,901 | ||||||||||||||||||||||||
Bonds (2) | 49,407 | 46,186 | 47,609 | 49,030 | 58,475 | ||||||||||||||||||||||||
Total consolidated obligations, net (2) | 76,635 | 71,692 | 70,405 | 71,348 | 78,376 | ||||||||||||||||||||||||
Affordable Housing Program payable | 60 | 61 | 68 | 74 | 79 | ||||||||||||||||||||||||
Capital stock - putable | 2,656 | 2,383 | 2,332 | 2,448 | 2,543 | ||||||||||||||||||||||||
Retained earnings | 2,242 | 2,228 | 2,244 | 2,240 | 2,211 | ||||||||||||||||||||||||
Accumulated other comprehensive loss | (39) | (16) | (6) | (12) | (13) | ||||||||||||||||||||||||
Total capital | 4,859 | 4,595 | 4,570 | 4,676 | 4,741 | ||||||||||||||||||||||||
Statements of Income (for the period ended) | |||||||||||||||||||||||||||||
Net interest income | 68 | 44 | 64 | 94 | 79 | ||||||||||||||||||||||||
Net losses on trading securities | — | — | — | — | (1) | ||||||||||||||||||||||||
Net gains on derivatives | 1 | — | — | — | 1 | ||||||||||||||||||||||||
Standby letters of credit fees | 2 | 2 | 2 | 3 | 4 | ||||||||||||||||||||||||
Other income (3) | 3 | 1 | 2 | 1 | — | ||||||||||||||||||||||||
Noninterest expense | 34 | 40 | 38 | 35 | 36 | ||||||||||||||||||||||||
Income before assessment | 40 | 8 | 30 | 63 | 47 | ||||||||||||||||||||||||
Affordable Housing Program assessment | 4 | 1 | 3 | 7 | 4 | ||||||||||||||||||||||||
Net income | 36 | 7 | 27 | 56 | 43 | ||||||||||||||||||||||||
Performance Ratios (%) | |||||||||||||||||||||||||||||
Return on equity (4) | 3.19 | 0.58 | 2.31 | 4.82 | 3.35 | ||||||||||||||||||||||||
Return on assets (5) | 0.18 | 0.03 | 0.13 | 0.28 | 0.19 | ||||||||||||||||||||||||
Net interest margin (6) | 0.35 | 0.22 | 0.32 | 0.46 | 0.36 | ||||||||||||||||||||||||
Regulatory capital ratio (at period end) (7) | 5.80 | 5.86 | 5.90 | 5.94 | 5.52 | ||||||||||||||||||||||||
Equity to assets ratio (8) | 5.75 | 5.79 | 5.80 | 5.71 | 5.66 | ||||||||||||||||||||||||
Dividend payout ratio (9) | 60.82 | 333.49 | 84.86 | 47.83 | 70.82 |
March 31, 2022 | $ | 621,599 | |||
December 31, 2021 | 580,909 | ||||
September 30, 2021 | 570,985 | ||||
June 30, 2021 | 595,375 | ||||
March 31, 2021 | 617,965 |
For the Three Months Ended March 31, | ||||||||||||||
2022 | 2021 | |||||||||||||
Net cash provided by (used in): | ||||||||||||||
Operating activities | $ | 604 | $ | 495 | ||||||||||
Investing activities | (6,865) | 5,713 | ||||||||||||
Financing activities | 6,320 | (6,142) | ||||||||||||
Net change in cash and due from banks | $ | 59 | $ | 66 |
As of March 31, 2022 | |||||||||||||||||||||||
Due/Terminates in | Due/Terminates through | Due/Terminates | |||||||||||||||||||||
2022 | June 30, 2023 | thereafter | Total | ||||||||||||||||||||
Assets with LIBOR exposure | |||||||||||||||||||||||
Advance by redemption term (principal amount) (1) | $ | 18 | $ | 5 | $ | 830 | $ | 853 | |||||||||||||||
Investment securities by contractual maturity (principal amount) | |||||||||||||||||||||||
Non-mortgage-backed securities | 370 | — | 465 | 835 | |||||||||||||||||||
Mortgage-backed securities | — | 20 | 10,130 | 10,150 | |||||||||||||||||||
Total investment securities | 370 | 20 | 10,595 | 10,985 | |||||||||||||||||||
LIBOR-indexed interest-rate swaps notional amount (receive leg) | |||||||||||||||||||||||
Cleared | 282 | 314 | 3,097 | 3,693 | |||||||||||||||||||
Uncleared | 60 | 23 | 2,304 | 2,387 | |||||||||||||||||||
Total interest-rate swaps | 342 | 337 | 5,401 | 6,080 | |||||||||||||||||||
Total principal/notional amount | $ | 730 | $ | 362 | $ | 16,826 | $ | 17,918 | |||||||||||||||
Liabilities with LIBOR exposure | |||||||||||||||||||||||
LIBOR-indexed interest-rate swaps notional amount (pay leg) | |||||||||||||||||||||||
Cleared | $ | 142 | $ | 71 | $ | 50 | $ | 263 | |||||||||||||||
Uncleared | 20 | — | — | 20 | |||||||||||||||||||
Total notional amount interest-rate swaps | $ | 162 | $ | 71 | $ | 50 | $ | 283 | |||||||||||||||
____________ | |||||||||||||||||||||||
(1) Includes all fixed-rate advances that have cap/floor optionality and excludes convertible advances. |
As of December 31, 2021 | |||||||||||||||||||||||
Due/Terminates in | Due/Terminates through | Due/Terminates | |||||||||||||||||||||
2022 | June 30, 2023 | thereafter | Total | ||||||||||||||||||||
Assets with LIBOR exposure | |||||||||||||||||||||||
Advance by redemption term (principal amount) (1) | $ | 56 | $ | 5 | $ | 830 | $ | 891 | |||||||||||||||
Investment securities by contractual maturity (principal amount) | |||||||||||||||||||||||
Non-mortgage-backed securities | 435 | — | 465 | 900 | |||||||||||||||||||
Mortgage-backed securities | — | 23 | 10,994 | 11,017 | |||||||||||||||||||
Total investment securities | 435 | 23 | 11,459 | 11,917 | |||||||||||||||||||
LIBOR-indexed interest-rate swaps notional amount (receive leg) | |||||||||||||||||||||||
Cleared | 561 | 338 | 3,332 | 4,231 | |||||||||||||||||||
Uncleared | 88 | 23 | 2,512 | 2,623 | |||||||||||||||||||
Total interest-rate swaps | 649 | 361 | 5,844 | 6,854 | |||||||||||||||||||
Total principal/notional amount | $ | 1,140 | $ | 389 | $ | 18,133 | $ | 19,662 | |||||||||||||||
Liabilities with LIBOR exposure | |||||||||||||||||||||||
LIBOR-indexed interest-rate swaps notional amount (pay leg) | |||||||||||||||||||||||
Cleared | $ | 142 | $ | 71 | $ | 50 | $ | 263 | |||||||||||||||
Uncleared | 28 | — | — | 28 | |||||||||||||||||||
Total notional amount interest-rate swaps | $ | 170 | $ | 71 | $ | 50 | $ | 291 | |||||||||||||||
____________ | |||||||||||||||||||||||
(1) Includes all fixed-rate advances that have cap/floor optionality and excludes convertible advances. |
As of March 31, 2022 | As of December 31, 2021 | |||||||||||||
Terminates after June 30, 2023 (1) | $ | 4,000 | $ | 4,000 | ||||||||||
As of March 31, 2022 | As of December 31, 2021 | |||||||||||||||||||||||||
Rating | Number of Borrowers | Par Value of Outstanding Advances | Number of Borrowers | Par Value of Outstanding Advances | ||||||||||||||||||||||
101 | 229 | $ | 48,947 | 243 | $ | 42,946 | ||||||||||||||||||||
102 | 23 | 2,535 | 20 | 1,774 | ||||||||||||||||||||||
103 | 1 | 150 | 2 | 150 | ||||||||||||||||||||||
104 | 3 | 135 | 2 | 57 | ||||||||||||||||||||||
Unrated (1) | — | — | 1 | — | ||||||||||||||||||||||
Total | 256 | $ | 51,767 | 268 | $ | 44,927 |
Total Par Value of Outstanding Advances | LCV of Collateral Pledged by Members | First Mortgage Collateral (%) | Securities Collateral (%) | Other Real Estate Related Collateral (%) | |||||||||||||||||||||||||
As of March 31, 2022 | $ | 51,767 | $ | 299,724 | 64.51 | 11.47 | 24.02 | ||||||||||||||||||||||
As of December 31, 2021 | 44,927 | 299,844 | 63.09 | 12.52 | 24.39 |
As of March 31, 2022 | |||||||||||||||||
Federal Funds Sold | Interest-bearing Deposits | Total | |||||||||||||||
Australia | $ | 1,315 | $ | — | $ | 1,315 | |||||||||||
Austria | 47 | — | 47 | ||||||||||||||
Canada | 1,320 | — | 1,320 | ||||||||||||||
Finland | 1,305 | — | 1,305 | ||||||||||||||
France | 505 | — | 505 | ||||||||||||||
Germany | 1,845 | — | 1,845 | ||||||||||||||
Netherlands | 810 | — | 810 | ||||||||||||||
Norway | 300 | — | 300 | ||||||||||||||
Sweden | 810 | — | 810 | ||||||||||||||
United States of America | 479 | 689 | 1,168 | ||||||||||||||
Total | $ | 8,736 | $ | 689 | $ | 9,425 |
As of December 31, 2021 | |||||||||||||||||
Federal Funds Sold | Interest-bearing Deposits | Total | |||||||||||||||
Australia | $ | 820 | $ | — | $ | 820 | |||||||||||
Austria | 55 | — | 55 | ||||||||||||||
Canada | 2,315 | — | 2,315 | ||||||||||||||
Finland | 655 | — | 655 | ||||||||||||||
France | 376 | — | 376 | ||||||||||||||
Germany | 1,010 | — | 1,010 | ||||||||||||||
Netherlands | 790 | — | 790 | ||||||||||||||
Sweden | 200 | — | 200 | ||||||||||||||
United States of America | 199 | 688 | 887 | ||||||||||||||
Total | $ | 6,420 | $ | 688 | $ | 7,108 |
Carrying Value as of March 31, 2022 | |||||||||||||||||||||||||||||
Investment Grade | |||||||||||||||||||||||||||||
AAA | AA | A | BBB | Total | |||||||||||||||||||||||||
Investment securities: | |||||||||||||||||||||||||||||
Government-sponsored enterprises debt obligations | $ | — | $ | 1,385 | $ | — | $ | — | $ | 1,385 | |||||||||||||||||||
U.S. Treasury obligations | — | 2,616 | — | — | 2,616 | ||||||||||||||||||||||||
State or local housing agency debt obligations | — | 1 | — | — | 1 | ||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||||||
U.S. agency obligations-guaranteed residential | — | 203 | — | — | 203 | ||||||||||||||||||||||||
Government-sponsored enterprises residential | — | 4,563 | — | — | 4,563 | ||||||||||||||||||||||||
Government-sponsored enterprises commercial | 546 | 8,916 | — | — | 9,462 | ||||||||||||||||||||||||
Total mortgage-backed securities | 546 | 13,682 | — | — | 14,228 | ||||||||||||||||||||||||
Total investment securities | 546 | 17,684 | — | — | 18,230 | ||||||||||||||||||||||||
Other investments: | |||||||||||||||||||||||||||||
Interest-bearing deposits | — | 3 | 638 | 48 | 689 | ||||||||||||||||||||||||
Securities purchased under agreements to resell | — | 2,000 | 1,750 | — | 3,750 | ||||||||||||||||||||||||
Federal funds sold | — | 2,925 | 5,332 | 479 | 8,736 | ||||||||||||||||||||||||
Total other investments | — | 4,928 | 7,720 | 527 | 13,175 | ||||||||||||||||||||||||
Total investments | $ | 546 | $ | 22,612 | $ | 7,720 | $ | 527 | $ | 31,405 |
As of March 31, 2022 | ||||||||||||||||||||||||||
Notional Amount | Net Derivatives Fair Value Before Collateral | Cash Collateral Pledged To (From) Counterparty | Net Credit Exposure to Counterparties | |||||||||||||||||||||||
Non-member counterparties: | ||||||||||||||||||||||||||
Liability positions with credit exposure: | ||||||||||||||||||||||||||
Single-A | $ | 21,129 | $ | (740) | $ | 766 | $ | 26 | ||||||||||||||||||
Triple-B | 15,931 | (508) | 522 | 14 | ||||||||||||||||||||||
Cleared derivatives | 13,817 | (27) | 276 | 249 | ||||||||||||||||||||||
Total derivative positions with non-member counterparties to which the Bank had credit exposure | 50,877 | (1,275) | 1,564 | 289 | ||||||||||||||||||||||
Member institutions (1) | 12 | — | — | — | ||||||||||||||||||||||
Total | $ | 50,889 | $ | (1,275) | $ | 1,564 | $ | 289 |
As of December 31, 2021 | ||||||||||||||||||||||||||||||||
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: | ||||||||||||||||||||||||||||||||
Liability positions with credit exposure: | ||||||||||||||||||||||||||||||||
Single-A | $ | 10 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||
Cleared derivatives | 15,357 | (3) | 334 | — | 331 | |||||||||||||||||||||||||||
Total derivative positions with non-member counterparties to which the Bank had credit exposure | 15,367 | (3) | 334 | — | 331 | |||||||||||||||||||||||||||
Member institutions (1) | 12 | 1 | — | (1) | — | |||||||||||||||||||||||||||
Total | $ | 15,379 | $ | (2) | $ | 334 | $ | (1) | $ | 331 |
As of March 31, 2022 | As of December 31, 2021 | |||||||||||||||||||||||||
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 | $ | 1,883 | $ | 1,909 | ||||||||||||||||||||
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 | 15,782 | 18,420 | ||||||||||||||||||||||
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 | 704 | 742 | ||||||||||||||||||||||
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 | — | 8 | ||||||||||||||||||||||
Total | 18,369 | 21,079 | ||||||||||||||||||||||||
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 | 1,068 | 788 | ||||||||||||||||||||||
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 | 30,321 | 24,473 | ||||||||||||||||||||||
Total | 31,389 | 25,261 | ||||||||||||||||||||||||
Balance Sheet | ||||||||||||||||||||||||||
Pay variable, receive fixed interest rate swap | Interest-rate swap not linked to specific assets, liabilities or forecasted transactions. | Non-qualifying hedges | 20 | 20 | ||||||||||||||||||||||
Pay fixed, receive variable interest rate swap | Interest-rate swap not linked to specific assets, liabilities or forecasted transactions. | Non-qualifying hedges | 20 | 20 | ||||||||||||||||||||||
Interest-rate cap or floor | Protects against changes in income of certain assets due to changes in interest rates. | Non-qualifying hedges | 4,000 | 4,000 | ||||||||||||||||||||||
Total | 4,040 | 4,040 | ||||||||||||||||||||||||
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 | 23 | 24 | ||||||||||||||||||||||
Total notional amount | $ | 53,821 | $ | 50,404 |
As of March 31, 2022 | As of December 31, 2021 | ||||||||||||||||||||||||||||||||||
Down 200 Basis Points (1) | Current | Up 200 Basis Points | Down 200 Basis Points (1) | Current | Up 200 Basis Points | ||||||||||||||||||||||||||||||
Assets | 0.40 | 0.31 | 0.33 | 0.53 | 0.37 | 0.39 | |||||||||||||||||||||||||||||
Liabilities | 0.28 | 0.27 | 0.23 | 0.28 | 0.36 | 0.27 | |||||||||||||||||||||||||||||
Equity | 2.26 | 0.94 | 1.98 | 4.17 | 0.54 | 2.38 | |||||||||||||||||||||||||||||
Effective duration gap | 0.12 | 0.04 | 0.10 | 0.25 | 0.01 | 0.12 |
As of March 31, 2022 | As of December 31, 2021 | ||||||||||||||||||||||||||||||||||
Down 200 Basis Points (1) | Current | Up 200 Basis Points | Down 200 Basis Points (1) | Current | Up 200 Basis Points | ||||||||||||||||||||||||||||||
Assets | $ | 84,762 | $ | 83,973 | $ | 83,443 | $ | 78,898 | $ | 78,173 | $ | 77,600 | |||||||||||||||||||||||
Liabilities | 79,593 | 79,160 | 78,770 | 73,794 | 73,541 | 73,097 | |||||||||||||||||||||||||||||
Equity | 5,169 | 4,813 | 4,673 | 5,104 | 4,632 | 4,503 |
Exhibit No. | Description | Form | Dated Filed | |||||||||||||||||
1 | 8-K | 10/26/2012 | ||||||||||||||||||
3.2 | 8-K | 12/11/2021 | ||||||||||||||||||
4.1 | 8-K | 10/8/2021 | ||||||||||||||||||
10.7 | ||||||||||||||||||||
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: | May 6, 2022 | By /s/ Kirk R. Malmberg | ||||||
Name: Kirk R. Malmberg Title: President and Chief Executive Officer | ||||||||
Date: | May 6, 2022 | By /s/ Haig H. Kazazian III | ||||||
Name: Haig H. Kazazian III Title: Executive Vice President and Chief Financial Officer |
Date: | May 6, 2022 | /s/ Kirk R. Malmberg | ||||||
Kirk R. Malmberg | ||||||||
President and Chief Executive Officer |
Date: | May 6, 2022 | /s/ Haig H. Kazazian III | ||||||
Haig H. Kazazian III | ||||||||
Executive Vice President and | ||||||||
Chief Financial Officer |
Date: | May 6, 2022 | /s/ Kirk R. Malmberg | ||||||
Kirk R. Malmberg | ||||||||
President and Chief Executive Officer | ||||||||
Date: | May 6, 2022 | /s/ Haig H. Kazazian III | ||||||
Haig H. Kazazian III | ||||||||
Executive Vice President and Chief Financial Officer | ||||||||
Statements of Condition (Unaudited) (Parenthetical) - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
---|---|---|
Deposits with other FHLBanks | $ 3 | $ 3 |
Amortized cost of available-for-sale securities | 2,648 | 2,648 |
Held-to-maturity securities, fair value | $ 15,492 | $ 15,099 |
Capital stock Class B putable par value (per share) | $ 100 | $ 100 |
Subclass B1 [Member] | ||
Capital stock, shares issued | 7,272,484 | 7,143,718 |
Capital stock, shares outstanding | 7,272,484 | 7,143,718 |
Subclass B2 [Member] | ||
Capital stock, shares issued | 19,214,757 | 16,681,827 |
Capital stock, shares outstanding | 19,214,757 | 16,681,827 |
Subclass B3 [Member] | ||
Capital stock, shares issued | 67,541 | 0 |
Capital stock, shares outstanding | 67,541 | 0 |
Statements of Income (Unaudited) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Interest income | ||
Advances | $ 63 | $ 87 |
Interest-bearing deposits | 1 | 1 |
Securities purchased under agreements to resell | 1 | 1 |
Federal funds sold | 3 | 2 |
Trading securities | 0 | 1 |
Available-for-sale securities | 2 | 0 |
Held-to-maturity securities | 25 | 34 |
Mortgage loans | 2 | 3 |
Total interest income | 97 | 129 |
Interest expense | ||
Discount notes | 7 | 5 |
Bonds | 22 | 45 |
Total interest expense | 29 | 50 |
Net interest income | 68 | 79 |
Noninterest income (loss) | ||
Net losses on trading securities | 0 | (1) |
Net gains on derivatives | 1 | 1 |
Standby letters of credit fees | 2 | 4 |
Gain on litigation settlements, net | 4 | 0 |
Other | (1) | 0 |
Total noninterest income | 6 | 4 |
Noninterest expense | ||
Compensation and benefits | 18 | 19 |
Other operating expenses | 11 | 8 |
Federal Housing Finance Agency | 2 | 3 |
Office of Finance | 2 | 2 |
Other | 1 | 4 |
Total noninterest expense | 34 | 36 |
Income before assessment | 40 | 47 |
Affordable Housing Program assessment | 4 | 4 |
Net income | $ 36 | $ 43 |
Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Statement of Comprehensive Income [Abstract] | ||
Net income | $ 36 | $ 43 |
Other comprehensive (loss) income: | ||
Net unrealized losses on available-for-sale securities | (23) | 0 |
Pension and postretirement benefits | 0 | 3 |
Total other comprehensive (loss) income | (23) | 3 |
Total comprehensive income | $ 13 | $ 46 |
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, 2020 | 31 | |||||
Beginning balance at Dec. 31, 2020 | $ 5,260 | $ 3,078 | $ 2,198 | $ 588 | $ 1,610 | $ (16) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Issuance of capital stock (shares) | 3 | |||||
Issuance of capital stock | 358 | $ 358 | ||||
Repurchase/redemption of capital stock (shares) | (9) | |||||
Repurchase/redemption of capital stock | (893) | $ (893) | ||||
Net shares reclassified to mandatorily redeemable capital stock | 0 | |||||
Comprehensive income (loss) | 46 | 43 | 8 | 35 | 3 | |
Cash dividends on capital stock | (30) | (30) | 0 | (30) | ||
Ending balance (shares) at Mar. 31, 2021 | 25 | |||||
Ending balance at Mar. 31, 2021 | 4,741 | $ 2,543 | 2,211 | 596 | 1,615 | (13) |
Beginning balance (shares) at Dec. 31, 2021 | 24 | |||||
Beginning balance at Dec. 31, 2021 | 4,595 | $ 2,383 | 2,228 | 615 | 1,613 | (16) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Issuance of capital stock (shares) | 8 | |||||
Issuance of capital stock | 843 | $ 843 | ||||
Repurchase/redemption of capital stock (shares) | (5) | |||||
Repurchase/redemption of capital stock | (547) | $ (547) | ||||
Net Shares Reclassified to Mandatorily Redeemable Capital Stock, Shares | 0 | |||||
Net shares reclassified to mandatorily redeemable capital stock | (23) | $ (23) | ||||
Comprehensive income (loss) | 13 | 36 | 7 | 29 | (23) | |
Cash dividends on capital stock | (22) | (22) | 0 | (22) | ||
Ending balance (shares) at Mar. 31, 2022 | 27 | |||||
Ending balance at Mar. 31, 2022 | $ 4,859 | $ 2,656 | $ 2,242 | $ 622 | $ 1,620 | $ (39) |
Statements of Cash Flows (Unaudited) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Operating Activities | ||
Net income | $ 36 | $ 43 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization (accretion) | (4) | (3) |
Net change in derivative and hedging activities | 567 | 452 |
Net losses on trading securities | 0 | (1) |
Net change in: | ||
Accrued interest receivable | 1 | 10 |
Other assets | 8 | 12 |
Affordable Housing Program payable | (1) | (4) |
Accrued interest payable | 8 | 3 |
Other liabilities | (11) | (19) |
Total adjustments | 568 | 452 |
Net cash provided by operating activities | 604 | 495 |
Investing activities | ||
Interest-bearing deposits | (838) | 1,113 |
Securities purchased under agreements to resell | 3,250 | 5,500 |
Federal funds sold | (2,316) | (5,431) |
Trading securities: | ||
Proceeds from sales | 0 | 61 |
Proceeds from Principal Collected | 0 | 1,000 |
Held-to-maturity securities: | ||
Proceeds from principal collected | 1,031 | 1,412 |
Purchases of long-term | (1,164) | 0 |
Advances: | ||
Proceeds from principal collected | 30,128 | 23,591 |
Made | (36,965) | (21,552) |
Mortgage loans: | ||
Proceeds from principal collected | 11 | 20 |
Purchase of premises, equipment, and software | (2) | (1) |
Net cash (used in) provided by investing activities | (6,865) | 5,713 |
Financing activities | ||
Net change in interest-bearing deposits | 105 | 715 |
Net payments on derivatives containing a financing element | (1) | (1) |
Proceeds from issuance of consolidated obligations: | ||
Discount notes | 165,196 | 173,787 |
Bonds | 10,768 | 17,006 |
Payments for debt issuance costs | (1) | (1) |
Payments for maturing and retiring consolidated obligations: | ||
Discount notes | (163,479) | (179,263) |
Bonds | (6,518) | (17,820) |
Proceeds from issuance of capital stock | 843 | 358 |
Payments for repurchase/redemption of capital stock | (547) | (893) |
Payments for repurchase/redemption of mandatorily redeemable capital stock | (24) | 0 |
Cash dividends paid | (22) | (30) |
Net cash provided by (used in) financing activities | 6,320 | (6,142) |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect | 59 | 66 |
Cash and due from banks at beginning of the period | 879 | 2,905 |
Cash and due from banks at end of the period | 938 | 2,971 |
Cash paid for: | ||
Interest | 16 | 55 |
Affordable Housing Program assessment, net | 4 | 8 |
Noncash investing and financing activities: | ||
Net shares reclassified to mandatorily redeemable capital stock | 23 | 0 |
HeldToMaturitySecuritiesAcquiredWithAccruedLiabilities | $ 572 | $ 0 |
Recently Issued But Not Yet Adopted Accounting Guidance |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounting Standards Update and Change in Accounting Principle [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DescriptionOfNewAccountingPronouncementsNotYetAdopted |
|
Basis of Presentation |
3 Months Ended |
---|---|
Mar. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Accounting | 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 2022, 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, 2021, which are contained in the Bank’s 2021 Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on March 3, 2022 (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 9—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. All investments in interest-bearing deposits and federal funds sold were repaid or expected to be repaid according to the contractual terms as of March 31, 2022 and December 31, 2021. No allowance for credit losses was recorded for these assets as of March 31, 2022 and December 31, 2021. The carrying values of these assets excludes accrued interest receivable that was not material as of March 31, 2022 and December 31, 2021. 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 March 31, 2022 and December 31, 2021. The carrying value of securities purchased under agreements to resell excludes accrued interest receivable that was not material as of March 31, 2022 and December 31, 2021. Refer to Note 2—Summary of Significant Accounting Policies to the Bank’s 2021 audited financial statements for a description of all the Bank’s significant accounting policies. There have been no changes to these policies as of March 31, 2022.
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Investment in Debt Securities |
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Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments in Debt Securities | Investments in Debt Securities Available-for-sale Securities Major Security Type. The following table presents available-for-sale securities. All of the Bank’s available-for-sale securities are U.S. Treasury obligations.
____________________ (1) Amortized cost includes adjustments made to the cost basis for accretion, amortization, and excludes accrued interest receivable that was not material as of March 31, 2022 and December 31, 2021. The following table presents available-for-sale securities 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.
Redemption Terms: The following table presents the amortized cost and estimated fair value of available-for-sale securities by contractual maturity.
____________ (1)Amortized cost includes adjustments made to the cost basis for accretion, amortization, and excludes accrued interest receivable that was not material as of as of March 31, 2022 and December 31, 2021. The Bank has not established an allowance for credit losses on its available-for-sale securities as of March 31, 2022 and December 31, 2021 because the securities carry an explicit government guarantee such that the Bank considers the risk of nonpayment to be zero. Held-to-maturity Securities Major Security Types. The following table presents held-to-maturity securities.
____________ (1) Excludes accrued interest receivable of $7 and $6 as of March 31, 2022 and December 31, 2021, respectively. Redemption Terms. The following table presents the amortized cost and estimated fair value of held-to-maturity securities by contractual maturity. Mortgage-backed securities (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 $7 and $6 as of March 31, 2022 and December 31, 2021, respectively. The Bank has not established an allowance for credit loss on any of its held-to-maturity securities as of March 31, 2022 and December 31, 2021 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.
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Advances |
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Advances [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Federal Home Loan Bank, Advances [Text Block] | 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 $47 and $50 as of March 31, 2022 and December 31, 2021, respectively. The following table presents advances by year of contractual maturity or, for convertible advances, next available conversion date.
Interest-rate Payment Terms. The following table presents interest-rate payment terms for advances.
Advances concentrations. The Bank’s advances are concentrated in commercial banks, credit unions, savings institutions, and insurance companies and further is concentrated in certain larger borrowing relationships. The concentration of the Bank’s advances to its 10 largest borrowers was $37,776 and $32,076 as of March 31, 2022 and December 31, 2021, respectively. This concentration represented 73.0 percent and 71.4 percent of total advances outstanding as of March 31, 2022 and December 31, 2021, 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 March 31, 2022 and December 31, 2021. No advance was past due, on nonaccrual status, or considered impaired, and there were no troubled debt restructurings related to advances as of March 31, 2022 and December 31, 2021.
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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 March 31, 2022 and December 31, 2021. (2) The amounts are not material. 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.
____________ (1) The amounts are not material. 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. Loans are grouped by loans originated in the most recent five years and those loans originated prior to the most recent five-year period.
____________ (1) Amortized cost excludes accrued interest receivable of $1 as of March 31, 2022. (2) The amount is not material.
____________ (1) Amortized cost excludes accrued interest receivable of $1 as of December 31, 2021. (2) Mortgage loans originated in 2017 had a current payment status and the amounts are not material. 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. The amounts are not material. (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 March 31, 2022, none of conventional mortgage loans on non-accrual status had an associated allowance for credit losses because these loans were either previously charged off to the expected recoverable value and/or the fair value of the underlying collateral, including any credit enhancements, is greater than the amortized cost of the loans.
____________ (1) Includes mortgage loans where the decision of foreclosure or similar alternative, such as a pursuit of deed-in-lieu, has been reported. The amounts are not material. (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 December 31, 2021, none of conventional mortgage loans on non-accrual status had an associated allowance for credit losses because these loans were either previously charged off to the expected recoverable value and/or the fair value of the underlying collateral, including any credit enhancements, is greater than the amortized cost of the loans.
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Consolidated Obligations |
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Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consolidated Obligations | Consolidated ObligationsConsolidated 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 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 loss, 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 2022 and 2021.
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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 The following table presents the components comprising accumulated other comprehensive loss.
____________ (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 13—Derivatives and Hedging Activities to the 2021 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 negative $284 as of March 31, 2022 and $300 as of December 31, 2021. (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 $1,597 and $759 as of March 31, 2022 and December 31, 2021, respectively. The Bank did not receive any cash collateral, including accrued interest, as of March 31, 2022 and December 31, 2021. The following table presents 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. The following table presents the total 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 gains on derivatives 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 (CFTC) 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 Nationally Recognized Statistical Rating Organization (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 March 31, 2022 was $3, for which the Bank was not required to post collateral as of March 31, 2022. If the Bank’s credit ratings had been lowered from its current rating to the next lower rating, the Bank would not have been required to post any additional collateral as of March 31, 2022. 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 $40 and $0 as of March 31, 2022 and December 31, 2021, respectively, 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 |
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated Fair Values | Estimated Fair Values The Bank records 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 March 31, 2022 and December 31, 2021. 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 available-for-sale securities and derivatives at fair value hierarchy Level 2 as of March 31, 2022 and December 31, 2021. Level 3 - unobservable inputs for the asset or liability. Valuations are derived from techniques that use significant assumptions not observable in the market, which include pricing models, discounted cash flow models, or similar techniques. The Bank did not carry any financial assets or liabilities, measured on a recurring basis, at fair value Level 3 as of March 31, 2022 and December 31, 2021. 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. There were no such transfers during the periods presented. 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 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 March 31, 2022 and December 31, 2021. 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. 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 significant assumptions used in this model are based on management’s best estimate of discount rates, market indices, and market volatility. The inputs for interest-rate related derivatives uses the Secured Overnight Financing Rate (SOFR) swap curve for the discounting of cleared derivatives and the Overnight Index Swap (OIS) curve for the discounting of 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 should 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 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 March 31, 2022 and December 31, 2021. 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) Financial instruments measured at fair value on a recurring basis. (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.
____________ (1) Financial instruments measured at fair value on a recurring basis. (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.
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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 $621,599 and $580,909 as of March 31, 2022 and December 31, 2021, 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 March 31, 2022 and December 31, 2021. Accordingly, the Bank has not recognized a liability for its joint and several obligation related to the other FHLBanks’ consolidated obligations as of March 31, 2022 and December 31, 2021. The following table presents the Bank’s outstanding commitments, which represent off-balance sheet obligations.
____________ (1)“Expire Within One Year” includes 18 standby letters of credit for a total of $16 and 19 standby letters of credit for a total of $15 as of March 31, 2022 and December 31, 2021, 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 $15 and $16 as of March 31, 2022 and December 31, 2021, respectively. Based on the Bank’s credit analyses and collateral requirements, the Bank does not deem it necessary to record any additional liability on the Statement of Condition for these commitments as of March 31, 2022 and December 31, 2021. 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. The following tables present transactions with shareholders whose holdings of regulatory capital stock exceed 10 percent of total regulatory capital stock outstanding.
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Subsequent Events |
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Mar. 31, 2022 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | Subsequent EventsOn April 28, 2022, the Bank's board of directors approved a first quarter 2022 cash dividend at an annualized rate of 3.74 percent. The Bank paid the first quarter 2022 dividend on May 3, 2022, in the amount of $22. |
Investments in Debt Securities (Tables) |
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Investment Holdings [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Available-for-sale Securities Reconciliation | Major Security Type. The following table presents available-for-sale securities. All of the Bank’s available-for-sale securities are U.S. Treasury obligations.
____________________ (1) Amortized cost includes adjustments made to the cost basis for accretion, amortization, and excludes accrued interest receivable that was not material as of March 31, 2022 and December 31, 2021.
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Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value | The following table presents available-for-sale securities 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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Available-for-Sale ClassifiedByContractualMaturityDateTableTextBlock | Redemption Terms: The following table presents the amortized cost and estimated fair value of available-for-sale securities by contractual maturity.
____________ (1)Amortized cost includes adjustments made to the cost basis for accretion, amortization, and excludes accrued interest receivable that was not material as of as of March 31, 2022 and December 31, 2021
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Debt Securities, Held-to-maturity [Table Text Block] | Major Security Types. The following table presents held-to-maturity securities.
____________ (1) Excludes accrued interest receivable of $7 and $6 as of March 31, 2022 and December 31, 2021, respectively.
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Investments Classified by Contractual Maturity Date | Redemption Terms. The following table presents the amortized cost and estimated fair value of held-to-maturity securities by contractual maturity. Mortgage-backed securities (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 $7 and $6 as of March 31, 2022 and December 31, 2021, respectively.
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Advances (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 $47 and $50 as of March 31, 2022 and December 31, 2021, respectively. The following table presents advances by year of contractual maturity or, for convertible advances, next available 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) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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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 March 31, 2022 and December 31, 2021. (2) The amounts are not material. 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. Loans are grouped by loans originated in the most recent five years and those loans originated prior to the most recent five-year period.
____________ (1) Amortized cost excludes accrued interest receivable of $1 as of March 31, 2022. (2) The amount is not material.
____________ (1) Amortized cost excludes accrued interest receivable of $1 as of December 31, 2021. (2) Mortgage loans originated in 2017 had a current payment status and the amounts are not material. 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. The amounts are not material. (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 March 31, 2022, none of conventional mortgage loans on non-accrual status had an associated allowance for credit losses because these loans were either previously charged off to the expected recoverable value and/or the fair value of the underlying collateral, including any credit enhancements, is greater than the amortized cost of the loans.
____________ (1) Includes mortgage loans where the decision of foreclosure or similar alternative, such as a pursuit of deed-in-lieu, has been reported. The amounts are not material. (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 December 31, 2021, none of conventional mortgage loans on non-accrual status had an associated allowance for credit losses because these loans were either previously charged off to the expected recoverable value and/or the fair value of the underlying collateral, including any credit enhancements, is greater than the amortized cost of the loans.
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Consolidated Obligations (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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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) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 loss, 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 2022 and 2021.
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Accumulated Other Comprehensive Income (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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.
____________ (1) Included in Noninterest expense - Other on the Statements of Income.
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Derivatives and Hedging Activities (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 negative $284 as of March 31, 2022 and $300 as of December 31, 2021. (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 $1,597 and $759 as of March 31, 2022 and December 31, 2021, respectively. The Bank did not receive any cash collateral, including accrued interest, as of March 31, 2022 and December 31, 2021.
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Net Gains (Losses) on Fair Value Hedging Relationships | The following table presents 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.
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Cumulative Basis Adjustments for Fair Value Hedges | The following table presents the total 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 gains on derivatives 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 $40 and $0 as of March 31, 2022 and December 31, 2021, respectively, 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) |
3 Months Ended | 9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2022 |
Sep. 30, 2021 |
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying Values and Estimated Fair Values | The following tables present the carrying values and estimated fair values of the Bank’s financial instruments.
____________ (1) Financial instruments measured at fair value on a recurring basis. (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.
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____________ (1) Financial instruments measured at fair value on a recurring basis. (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.
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Commitments and Contingencies (Tables) |
3 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 18 standby letters of credit for a total of $16 and 19 standby letters of credit for a total of $15 as of March 31, 2022 and December 31, 2021, respectively, which have no stated maturity date and are subject to renewal on an annual basis. (2)Expiration is based on settlement period rather than underlying contractual maturity of consolidated obligations.
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Transactions With Shareholders (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Transactions With Shareholders [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Transactions with Shareholders [Table Text Block] | Shareholder Concentrations. The Bank considers shareholder concentration as members or non-members with regulatory capital stock outstanding in excess of 10 percent of the Bank’s total regulatory capital stock. The following tables present transactions with shareholders whose holdings of regulatory capital stock exceed 10 percent of total regulatory capital stock outstanding.
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Available -for-sale Securities (Available-for-sale by Major Security Type) (Details) - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
||
---|---|---|---|---|
Debt Securities, Available-for-sale [Line Items] | ||||
Available-for-sale Securities | $ 2,616 | $ 2,639 | ||
US Treasury Securities [Member] | ||||
Debt Securities, Available-for-sale [Line Items] | ||||
Amortized cost of available-for-sale securities | [1] | 2,648 | 2,648 | |
Gross unrealized gains on available-for-sale securities | 2 | 0 | ||
Gross unrealized loss on available-for-sale securities | (34) | (9) | ||
Available-for-sale Securities | $ 2,616 | $ 2,639 | ||
|
Available-for-sale Securities (Summary of Available-for-sale Securities in a Continuous Unrealized Loss Position) (Details) - US Treasury Securities [Member] - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
---|---|---|
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ (1,564) | $ (1,589) |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ (34) | $ (9) |
Available-for-sale Securities (Redemption Terms) (Details) - US Treasury Securities [Member] - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
||
---|---|---|---|---|
Debt Securities, Available-for-sale [Line Items] | ||||
Due after one year through five years, Amortized Cost | [1] | $ 2,648 | $ 2,648 | |
Due after one through five years, Fair Value | $ 2,616 | $ 2,639 | ||
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Held-to-maturity Securities (Held-to-maturity by Major Security Type) (Details) - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
||
---|---|---|---|---|
Schedule of Held-to-maturity Securities [Line Items] | ||||
Held-to-maturity, Amortized Cost | [1] | $ 15,614 | $ 15,074 | |
Held-to-maturity securities Gross Unrealized Gains | 39 | 68 | ||
Gross Unrealized Losses on held-to-maturity securities | (161) | (43) | ||
Held-to-maturity securities, fair value | 15,492 | 15,099 | ||
Held-to-maturity Securities [Member] | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Held-to -maturity Securities accrued interest receivable | 7 | 6 | ||
State or local housing agency debt obligations [Member] | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Held-to-maturity, Amortized Cost | [1] | 1 | 1 | |
Held-to-maturity securities Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses on held-to-maturity securities | 0 | 0 | ||
Held-to-maturity securities, fair value | 1 | 1 | ||
Government-Sponsored Enterprises Debt Obligations [Member] | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Held-to-maturity, Amortized Cost | [1] | 1,385 | 1,450 | |
Held-to-maturity securities Gross Unrealized Gains | 3 | 6 | ||
Gross Unrealized Losses on held-to-maturity securities | (22) | (6) | ||
Held-to-maturity securities, fair value | 1,366 | 1,450 | ||
Residential [Member] | U.S. agency obligations-guaranteed residential [Member] | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Held-to-maturity, Amortized Cost | [1] | 203 | 221 | |
Held-to-maturity securities Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses on held-to-maturity securities | (12) | (3) | ||
Held-to-maturity securities, fair value | 191 | 218 | ||
Residential [Member] | Government-sponsored enterprises [Member] | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Held-to-maturity, Amortized Cost | [1] | 4,563 | 4,927 | |
Held-to-maturity securities Gross Unrealized Gains | 23 | 43 | ||
Gross Unrealized Losses on held-to-maturity securities | (44) | (9) | ||
Held-to-maturity securities, fair value | 4,542 | 4,961 | ||
Commercial [Member] | Government-sponsored enterprises [Member] | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Held-to-maturity, Amortized Cost | [1] | 9,462 | 8,475 | |
Held-to-maturity securities Gross Unrealized Gains | 13 | 19 | ||
Gross Unrealized Losses on held-to-maturity securities | (83) | (25) | ||
Held-to-maturity securities, fair value | $ 9,392 | $ 8,469 | ||
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Held-to-maturity Securities (Redemption Terms) (Details) - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
||
---|---|---|---|---|
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized cost of held-to-maturity securities | [1] | $ 15,614 | $ 15,074 | |
Estimated fair value of held-to-maturity securites | 15,492 | 15,099 | ||
Held-to-maturity Securities [Member] | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Held-to -maturity Securities accrued interest receivable | 7 | 6 | ||
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 | [1] | 370 | 435 | |
Amortized cost of held-to-maturity securities due after one year through five years | [1] | 956 | 856 | |
Amortized Cost of held-to-maturity securities due after five years through ten years | [1] | 0 | 100 | |
Amortized Cost of held-to-maturity securities due after 10 years | [1] | 60 | 60 | |
Amortized cost of held-to-maturity securities | [1] | 1,386 | 1,451 | |
Estimated fair value of held-to-maturity securities due in one year or less | 370 | 435 | ||
Estimated fair value of held-to-maturity securities due after one year through five years | 936 | 853 | ||
Estimated fair value of Held-to-maturity securities due after five years through ten years | 0 | 101 | ||
Estimated fair value of Held-to-maturity securities due after 10 Years, Fair Value | 61 | 62 | ||
Estimated fair value of held-to-maturity securites | 1,367 | 1,451 | ||
Mortgage-backed securities [Member] | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Amortized cost of held-to-maturity securities | [1] | 14,228 | 13,623 | |
Estimated fair value of held-to-maturity securites | $ 14,125 | $ 13,648 | ||
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Advances Advances (Redemption Terms) (Details) - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
||||||
---|---|---|---|---|---|---|---|---|
Advances [Abstract] | ||||||||
Due in one year or less | $ 31,349 | $ 21,819 | ||||||
Due after one year through two years | 3,527 | 3,247 | ||||||
Due after two years through three years | 2,191 | 2,236 | ||||||
Due after three years through four years | 2,017 | 3,145 | ||||||
Due after four years through five years | 3,247 | 3,047 | ||||||
Due after five years | 9,436 | 11,433 | ||||||
Total par value | 51,767 | 44,927 | ||||||
Deferred prepayment fees | (62) | (70) | ||||||
Discount on AHP Advances | [1] | (1) | (2) | |||||
Discount on EDGE advances | [2] | (1) | (1) | |||||
Hedging adjustments | (165) | 561 | ||||||
Total Federal Home Loan Bank Advances | [3] | 51,538 | 45,415 | |||||
Accrued Interest Receivable, Advances Disclosure | $ 47 | $ 50 | ||||||
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Advances (Advances by Year of Contractual Maturity for Convertible Advances) (Details) - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
---|---|---|
Advances [Abstract] | ||
Due or convertible in one year or less | $ 35,481 | $ 27,082 |
Due or convertible after one year through two years | 3,529 | 3,271 |
Due or convertible after two years through three years | 2,189 | 2,215 |
Due or convertible after three years through four years | 1,992 | 3,137 |
Due or convertible after four years through five years | 3,161 | 2,976 |
Due or convertible after five years | 5,415 | 6,246 |
Total par value | $ 51,767 | $ 44,927 |
Advances (Interest-rate Payment Terms) (Details) - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
---|---|---|
Advances [Abstract] | ||
Fixed-rate, due in one year or less | $ 20,473 | $ 14,715 |
Fixed-rate, due after one year | 17,573 | 20,391 |
Total fixed-rate | 38,046 | 35,106 |
Variable-rate, due in one year or less | 10,876 | 7,104 |
Variable-rate, due after one year | 2,845 | 2,717 |
Total variable-rate | 13,721 | 9,821 |
Total par value | $ 51,767 | $ 44,927 |
Advances (Credit Risk Narrative) (Details Textual) $ in Millions |
Mar. 31, 2022
USD ($)
Institutions
|
Dec. 31, 2021
USD ($)
Institutions
|
---|---|---|
Advances [Abstract] | ||
Number of Top Advances Borrowers | Institutions | 10 | 10 |
Advances to Ten Largest Borrowers | $ 37,776 | $ 32,076 |
Advances Ten Largest Borrowers Percent of Total | 73.00% | 71.40% |
Allowance for credit losses on advances | $ 0 | $ 0 |
Advances past due | $ 0 | $ 0 |
Mortgage Loans Held for Portfolio (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | ||||
---|---|---|---|---|---|---|
Mar. 31, 2022 |
Dec. 31, 2021 |
|||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Unpaid principal balance | $ 139 | $ 150 | ||||
Discounts | 0 | (1) | ||||
Total mortgage loans held for portfolio | [1] | 139 | 149 | |||
Allowance for credit losses on mortgage loans | [2] | 0 | 0 | |||
Mortgage loans held for portfolio, net | 139 | 149 | ||||
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 | $ 1 | $ 2 | ||||
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 | $ 138 | $ 148 | ||||
Conventional Mortgage Loan [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Unpaid principal balance | 127 | 137 | ||||
Government-guaranteed or insured mortgage loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Unpaid principal balance | $ 12 | $ 13 | ||||
|
Mortgage Loans Held for Portfolio Roll-forward of Allowance for Credit Losses (Details) - USD ($) $ in Millions |
3 Months Ended | ||||||
---|---|---|---|---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||||
Balance, beginning of period | [1] | $ 0 | |||||
Balance, end of period | [1] | 0 | |||||
Residential Portfolio Segment [Member] | Conventional Mortgage Loan [Member] | |||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||||
Balance, beginning of period | 0 | [2] | $ 1 | ||||
Provision for credit losses | 0 | [2] | 0 | ||||
Balance, end of period | $ 0 | [2] | $ 1 | ||||
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Mortgage Loans Held for Portfolio Credit Quality Indicators (Details) - Residential Portfolio Segment [Member] - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
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---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||||||||||||||||||
Accrued Interest Receivable on Conventional Mortgage Loans | $ 1 | $ 1 | ||||||||||||||||||||
In process of foreclosure at amortized cost | [1] | $ 1 | $ 0 | |||||||||||||||||||
Seriously delinquent rate at amortized cost | [2] | 5.04% | 4.83% | |||||||||||||||||||
Past due 90 days or more and still accruing interest at amortized cost | [3] | $ 1 | $ 1 | |||||||||||||||||||
Loans on nonaccrual status at amortized cost | 6 | [4] | 6 | [5] | ||||||||||||||||||
Government-guaranteed or insured mortgage loans [Member] | ||||||||||||||||||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||||||||||||||||||
In process of foreclosure at amortized cost | [1] | $ 0 | $ 0 | |||||||||||||||||||
Seriously delinquent rate at amortized cost | [2] | 7.40% | 6.26% | |||||||||||||||||||
Past due 90 days or more and still accruing interest at amortized cost | [3] | $ 1 | $ 1 | |||||||||||||||||||
Loans on nonaccrual status at amortized cost | 0 | [4] | 0 | [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 | 0 | |||||||||||||||||||||
Total Current Mortgage Loans at Amortized Cost Originated Four Years before Latest Fiscal Year | 0 | |||||||||||||||||||||
Total Mortgage Loans at Amortized Cost Originated Four Years before Latest Fiscal Year | [6] | 0 | ||||||||||||||||||||
Total Past Due Mortgage Loans at Amortized Cost Originated Five or More Years before Latest Fiscal Year | 10 | 10 | ||||||||||||||||||||
Total Current Mortgage Loans at Amortized Cost Originated Five or More Years before Latest Fiscal Year | 117 | 126 | ||||||||||||||||||||
Total past due mortgage loans at amortized cost | 10 | 10 | ||||||||||||||||||||
Total Current Mortgage Loans at Amortized Cost | 117 | 126 | ||||||||||||||||||||
Total Amortized Cost Originated Five or More Years before Latest Fiscal Year | 127 | 136 | ||||||||||||||||||||
Total Mortgage Loans at Amortized Cost | 127 | [7] | 136 | [8] | ||||||||||||||||||
In process of foreclosure at amortized cost | [1] | $ 1 | $ 0 | |||||||||||||||||||
Seriously delinquent rate at amortized cost | [2] | 4.82% | 4.70% | |||||||||||||||||||
Past due 90 days or more and still accruing interest at amortized cost | [3] | $ 0 | $ 0 | |||||||||||||||||||
Loans on nonaccrual status at amortized cost | 6 | [4] | 6 | [5] | ||||||||||||||||||
Loans on nonaccrual status at amortized cost with an associated allowance for credit losses | 0 | 0 | ||||||||||||||||||||
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 | 4 | 2 | ||||||||||||||||||||
Total past due mortgage loans at amortized cost | 4 | 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 | 0 | [9] | 1 | |||||||||||||||||||
Total past due mortgage loans at amortized cost | 0 | [9] | 1 | |||||||||||||||||||
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 | 0 | |||||||||||||||||||||
Past Due Mortgage Loans Originated Five or More Years before Latest Fiscal Year | 6 | 7 | ||||||||||||||||||||
Total past due mortgage loans at amortized cost | $ 6 | $ 7 | ||||||||||||||||||||
|
Consolidated Obligations (Narrative) (Details) |
3 Months Ended |
---|---|
Mar. 31, 2022
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 |
Mar. 31, 2022 |
Dec. 31, 2021 |
---|---|---|
Debt Instrument [Line Items] | ||
Bonds par value | $ 50,696 | $ 46,446 |
Fixed-rate [Member] | ||
Debt Instrument [Line Items] | ||
Bonds par value | 31,408 | 27,751 |
Simple variable-rate [Member] | ||
Debt Instrument [Line Items] | ||
Bonds par value | 16,030 | 16,400 |
Step up/down [Member] | ||
Debt Instrument [Line Items] | ||
Bonds par value | $ 3,258 | $ 2,295 |
Consolidated Obligations (Redemption Terms) (Details) - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
---|---|---|
Debt Instrument [Line Items] | ||
Federal Home Loan Bank, Consolidated Obligations, Bonds | $ 49,407 | $ 46,186 |
Consolidated Obligation Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Bonds, Due in one year or less | 16,738 | 16,640 |
Bonds, Due after one year through two years | 3,838 | 2,110 |
Bonds, Due after two years through three years | 12,374 | 10,700 |
Bonds, Due after three years through four years | 6,020 | 4,720 |
Bonds, Due after four years through five years | 8,426 | 7,829 |
Bonds, Due after five years | 3,300 | 4,447 |
Bonds par value | 50,696 | 46,446 |
Premiums | 8 | 10 |
Discounts | (16) | (17) |
Hedging adjustments | (1,281) | (253) |
Federal Home Loan Bank, Consolidated Obligations, Bonds | $ 49,407 | $ 46,186 |
Bonds, Due in one year or less, weighted average interest rate | 0.37% | 0.16% |
Bonds, Due after one year through two years, weighted average interest rate | 1.35% | 0.55% |
Bonds, Due after two years through three years, weighted average interest rate | 0.81% | 0.81% |
Bonds, Due after three years through four years, weighted average interest rate | 0.82% | 0.67% |
Bonds, Due after four years through five years, weighted average interest rate | 1.23% | 0.94% |
Bonds, Due after five years, weighted average interest rate | 2.06% | 1.76% |
Total, weighted average interest rate | 0.85% | 0.67% |
Consolidated Obligations (Bonds by Callable Feature) (Details) - Consolidated Obligation Bonds [Member] - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
---|---|---|
Debt Instrument [Line Items] | ||
Bonds par value | $ 50,696 | $ 46,446 |
Callable [Member] | ||
Debt Instrument [Line Items] | ||
Bonds par value | 29,170 | 24,393 |
Noncallable [Member] | ||
Debt Instrument [Line Items] | ||
Bonds par value | $ 21,526 | $ 22,053 |
Consolidated Obligations (Bonds by Maturity or Call Date) (Details) - Consolidated Obligation Bonds [Member] - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
---|---|---|
Debt Instrument [Line Items] | ||
Bonds, Due in one year or less | $ 16,738 | $ 16,640 |
Bonds, Due after one year through two years | 3,838 | 2,110 |
Bonds, Due after two years through three years | 12,374 | 10,700 |
Bonds, Due after three years through four years | 6,020 | 4,720 |
Bonds, Due after four years through five years | 8,426 | 7,829 |
Bonds, Due after five years | 3,300 | 4,447 |
Bonds par value | 50,696 | 46,446 |
Earlier of Contractual Maturity or Next Call Date [Member] | ||
Debt Instrument [Line Items] | ||
Bonds, Due in one year or less | 45,486 | 40,712 |
Bonds, Due after one year through two years | 2,206 | 1,778 |
Bonds, Due after two years through three years | 567 | 1,674 |
Bonds, Due after three years through four years | 1,217 | 1,090 |
Bonds, Due after four years through five years | 43 | 3 |
Bonds, Due after five years | $ 1,177 | $ 1,189 |
Consolidated Obligations (Discount Notes) (Details) - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
---|---|---|
Short-term Debt [Line Items] | ||
Discount notes | $ 27,228 | $ 25,506 |
Discount Notes | ||
Short-term Debt [Line Items] | ||
Discount notes | 27,228 | 25,506 |
Discount notes par value | $ 27,235 | $ 25,507 |
Discount notes weighted average interest rate | 0.24% | 0.04% |
Capital and Mandatorily Redeemable Capital Stock (Regulatory Capital Rules and Requirements) (Details) - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
||
---|---|---|---|---|
Banking Regulation, Total Capital [Abstract] | ||||
Risk-based capital, Required | $ 612 | $ 814 | ||
Risk-based capital, Actual | $ 4,898 | $ 4,612 | ||
Total regulatory capital ratio, Required | 4.00% | 4.00% | ||
Total regulatory capital ratio, Actual | 5.80% | 5.86% | ||
Total regulatory capital, Required | [1] | $ 3,378 | $ 3,150 | |
Total regulatory capital, Actual | [1] | $ 4,898 | $ 4,612 | |
Leverage capital ratio, Required | 5.00% | 5.00% | ||
Leverage capital ratio, Actual | 8.70% | 8.79% | ||
Leverage capital, Required | $ 4,223 | $ 3,937 | ||
Leverage capital, Actual | $ 7,347 | $ 6,918 | ||
|
Capital and Mandatorily Redeemable Capital Stock Schedule of Declared and Paid Quarterly Dividends (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Statement of Stockholders' Equity [Abstract] | ||
Dividends, Common Stock, Cash | $ 22 | $ 30 |
Common Stock Dividend-Annualized Rate | 3.70% | 3.72% |
Capital and Mandatorily Redeemable Capital Stock (Mandatorily Redeemable Capital Stock by Year of Redemption) (Details) - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
---|---|---|
Banking Regulation, Total Capital [Abstract] | ||
Mandatorily redeemable capital stock | $ 0 | $ 1 |
Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions |
3 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Accumulated Other Comprehensive Income (Loss), Beginning of period | $ (16) | |||
Amortization of pension and posttretirement | 0 | $ 3 | ||
Total other comprehensive income (loss) | (23) | 3 | ||
Accumulated Other Comprehensive Income (Loss), End of period | (39) | |||
Net Unrealized Gains (Losses) on Available-for-sale Securities | ||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Accumulated Other Comprehensive Income (Loss), Beginning of period | (9) | 0 | ||
Net unrealized losses on available-for-sale securities | (23) | |||
Amortization of pension and posttretirement | 0 | |||
Total other comprehensive income (loss) | (23) | 0 | ||
Accumulated Other Comprehensive Income (Loss), End of period | (32) | 0 | ||
Pension and Postretirement Benefits [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Accumulated Other Comprehensive Income (Loss), Beginning of period | (7) | (16) | ||
Net unrealized losses on available-for-sale securities | 0 | |||
Amortization of pension and posttretirement | [1] | 3 | ||
Total other comprehensive income (loss) | 0 | 3 | ||
Accumulated Other Comprehensive Income (Loss), End of period | (7) | (13) | ||
Total Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Accumulated Other Comprehensive Income (Loss), Beginning of period | (16) | (16) | ||
Net unrealized losses on available-for-sale securities | (23) | |||
Amortization of pension and posttretirement | [1] | 3 | ||
Total other comprehensive income (loss) | (23) | 3 | ||
Accumulated Other Comprehensive Income (Loss), End of period | $ (39) | $ (13) | ||
|
Derivatives and Hedging Activities (Fair Value of Derivative Instruments) (Details) - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
||||||
---|---|---|---|---|---|---|---|---|
Derivative [Line Items] | ||||||||
Derivative, Notional Amount | $ 53,821 | $ 50,404 | ||||||
Variation Margin for Daily Settled Contracts, Net | (284) | 300 | ||||||
Cash collateral posted | 1,597 | 759 | ||||||
Derivative Assets | 13 | 4 | ||||||
Derivative Liabilities | 1,332 | 455 | ||||||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | [1],[2] | 276 | 327 | |||||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | [1],[2] | (1,322) | (433) | |||||
Derivative assets | 289 | 331 | ||||||
Derivative liabilities (1) | 10 | 22 | ||||||
Designated as Hedging Instrument [Member] | Interest-rate swaps [Member] | ||||||||
Derivative [Line Items] | ||||||||
Derivative, Notional Amount | [3] | 49,758 | 46,340 | |||||
Derivative Assets | [3] | 8 | 2 | |||||
Derivative Liabilities | [3] | 1,330 | 453 | |||||
Not Designated as Hedging Instrument [Member] | ||||||||
Derivative [Line Items] | ||||||||
Derivative, Notional Amount | 4,063 | 4,064 | ||||||
Derivative Assets | 5 | 2 | ||||||
Derivative Liabilities | 2 | 2 | ||||||
Not Designated as Hedging Instrument [Member] | Interest-rate swaps [Member] | ||||||||
Derivative [Line Items] | ||||||||
Derivative, Notional Amount | [3] | 63 | 64 | |||||
Derivative Assets | [3] | 2 | 1 | |||||
Derivative Liabilities | [3] | 0 | 1 | |||||
Not Designated as Hedging Instrument [Member] | Interest rate caps or floors [Member] | ||||||||
Derivative [Line Items] | ||||||||
Derivative, Notional Amount | 4,000 | 4,000 | ||||||
Derivative Assets | 3 | 1 | ||||||
Derivative Liabilities | $ 2 | $ 1 | ||||||
|
Derivatives and Hedging Activities (Net Gains (Losses) on Fair Value Hedging Relationships) (Details) - USD ($) $ in Millions |
3 Months Ended | |||||
---|---|---|---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Interest Income, Advances | $ 63 | $ 87 | ||||
Interest Expense, Other Long-term Debt | (22) | (45) | ||||
Interest Expense, Consolidated Obligation Discount notes | (7) | (5) | ||||
Interest Income [Member] | Advances [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Hedged Items | (673) | (621) | ||||
Derivatives | 725 | 691 | ||||
Net changes in fair value | 52 | 70 | ||||
Net interest settlements on derivatives | [1],[2] | (59) | (94) | |||
Amortization Accretion of Active Hedging Relationships | (42) | (45) | ||||
Other | (11) | (3) | ||||
Total net interest (expense) income effect from fair value hedging relationships | (60) | (72) | ||||
Interest Expense [Member] | Bonds | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Hedged Items | 1,029 | 89 | ||||
Derivatives | (1,018) | (88) | ||||
Net changes in fair value | 11 | 1 | ||||
Net interest settlements on derivatives | [1],[2] | 53 | 10 | |||
Amortization Accretion of Active Hedging Relationships | 0 | 0 | ||||
Other | 0 | 0 | ||||
Total net interest (expense) income effect from fair value hedging relationships | $ 64 | $ 11 | ||||
|
Derivatives and Hedging Activities (Total Basis Adjustments for Fair Value Hedges) (Details) - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
||
---|---|---|---|---|
Advances [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Amortized Cost of Hedged Asset | [1] | $ 18,583 | $ 21,293 | |
Basis Adjustments for Active Hedging Relationships Included in Amortized Cost | (221) | 492 | ||
Basis Adjustments for Discontinued Hedging Relationships included in Amortized Cost | 56 | 69 | ||
Total Amount of Fair Value Hedging Basis Adjustments | (165) | 561 | ||
Bonds | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Amortized Cost of Hedged Liability | [1] | 30,313 | 25,256 | |
Basis Adjustments for Active Hedging Relationships included in Amortized Cost) | (1,281) | (252) | ||
Basis Adjustments for Discontinued Hedging Relationships included in Amortized Cost | 0 | (1) | ||
Total Amount of Fair Value Hedging Basis Adjustments | $ (1,281) | $ (253) | ||
|
Derivatives and Hedging Activities (Net Gains (Losses) on Derivatives and Hedging Activities Recorded in Non-interest Income) (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Interest-rate swaps | $ 1 | $ 1 |
Gain (Loss) on Derivative Instruments, Net, Pretax | 1 | 1 |
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 | 0 | 1 |
Gain (Loss) on Derivative Instruments [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member] | Interest rate caps or floors [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Interest-rate swaps | $ 1 | $ 0 |
Derivatives and Hedging Activities (Offsetting of Derivative Assets and Derivative Liabilities) (Details) - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
||||||
---|---|---|---|---|---|---|---|---|
Derivatives, Fair Value [Line Items] | ||||||||
Derivative Asset | $ 13 | $ 4 | ||||||
Derivative Liability | 1,332 | 455 | ||||||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | [1],[2] | 276 | 327 | |||||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | [1],[2] | (1,322) | (433) | |||||
Derivative assets | 289 | 331 | ||||||
Derivative liabilities (1) | 10 | 22 | ||||||
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] | 289 | 331 | |||||
Derivative Liability, Fair Value, Amount Offset Against Collateral | [3] | 10 | 22 | |||||
Credit Risk Contract [Member] | ||||||||
Derivatives, Fair Value [Line Items] | ||||||||
Credit Derivative Exposure Net | 40 | 0 | ||||||
Uncleared derivatives [Member] | ||||||||
Derivatives, Fair Value [Line Items] | ||||||||
Derivative Asset | 11 | 4 | ||||||
Derivative Liability | 1,303 | 451 | ||||||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | 29 | (3) | ||||||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | (1,293) | (429) | ||||||
Derivative assets | 40 | 1 | ||||||
Derivative liabilities (1) | 10 | 22 | ||||||
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] | 40 | 1 | |||||
Derivative Liability, Fair Value, Amount Offset Against Collateral | [3] | 10 | 22 | |||||
Cleared derivatives [Member] | ||||||||
Derivatives, Fair Value [Line Items] | ||||||||
Derivative Asset | 2 | 0 | ||||||
Derivative Liability | 29 | 4 | ||||||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | 247 | 330 | ||||||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | (29) | (4) | ||||||
Derivative assets | 249 | 330 | ||||||
Derivative liabilities (1) | 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] | 249 | 330 | |||||
Derivative Liability, Fair Value, Amount Offset Against Collateral | [3] | $ 0 | $ 0 | |||||
|
Derivatives and Hedging Activities (Narrative) (Details) $ in Millions |
Mar. 31, 2022
USD ($)
|
---|---|
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |
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) | $ 3 |
Estimated Fair Values (Fair Value Summary) (Details) - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
|||||||
---|---|---|---|---|---|---|---|---|---|
Assets: | |||||||||
Cash and Due from Banks | $ 938 | $ 879 | |||||||
Available-for-sale Securities | 2,616 | 2,639 | |||||||
Held-to-maturity securities | 15,614 | 15,074 | |||||||
Held-to-maturity securities, fair value | 15,492 | 15,099 | |||||||
Interest Receivable | 56 | 57 | |||||||
Derivative assets | 289 | 331 | |||||||
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | [1],[2] | 276 | 327 | ||||||
Liabilities: | |||||||||
Interest Payable | 80 | 72 | |||||||
Derivative liabilities (1) | 10 | 22 | |||||||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | [1],[2] | (1,322) | (433) | ||||||
Fair Value, Inputs, Level 1 [Member] | |||||||||
Assets: | |||||||||
Cash and Due from Banks | 938 | 879 | |||||||
Interest-bearing Deposits, Fair Value Disclosure | 0 | 0 | |||||||
Securities purchased under agreements to resell | 0 | 0 | |||||||
Federal funds sold | 0 | 0 | |||||||
Available-for-sale Securities | [3] | 0 | 0 | ||||||
Held-to-maturity securities, fair value | 0 | 0 | |||||||
Advances | 0 | ||||||||
Mortgage loans held for portfolio, net | 0 | 0 | |||||||
Interest Receivable | 0 | 0 | |||||||
Derivative assets | [3] | 0 | 0 | ||||||
Grantor trust assets (included in Other assets) (1) | [3] | 29 | 35 | ||||||
Liabilities: | |||||||||
Interest-bearing deposits | 0 | 0 | |||||||
Mandatorily redeemable capital stock | 1 | ||||||||
Interest Payable | 0 | 0 | |||||||
Derivative liabilities (1) | 0 | 0 | [3] | ||||||
Fair Value, Inputs, Level 2 [Member] | |||||||||
Assets: | |||||||||
Cash and Due from Banks | 0 | 0 | |||||||
Interest-bearing Deposits, Fair Value Disclosure | 689 | 688 | |||||||
Securities purchased under agreements to resell | 3,750 | 7,000 | |||||||
Federal funds sold | 8,736 | 6,420 | |||||||
Available-for-sale Securities | [3] | 2,616 | 2,639 | ||||||
Held-to-maturity securities, fair value | 15,492 | 15,099 | |||||||
Advances | 51,553 | 45,635 | |||||||
Mortgage loans held for portfolio, net | 144 | 161 | |||||||
Accrued Interest Receivable, Fair Value Disclosure | 56 | 57 | |||||||
Derivative assets | [3] | 13 | 4 | ||||||
Grantor trust assets (included in Other assets) (1) | [3] | 0 | 0 | ||||||
Liabilities: | |||||||||
Interest-bearing deposits | 2,158 | 2,054 | |||||||
Mandatorily redeemable capital stock | 0 | ||||||||
Interest Payable | 80 | 72 | |||||||
Derivative liabilities (1) | 1,332 | 455 | [3] | ||||||
Carrying Value [Member] | |||||||||
Assets: | |||||||||
Cash and Due from Banks | 938 | 879 | |||||||
Interest-bearing Deposits, Fair Value Disclosure | 689 | 688 | |||||||
Securities purchased under agreements to resell | 3,750 | 7,000 | |||||||
Federal funds sold | 8,736 | 6,420 | |||||||
Available-for-sale Securities | [3] | 2,616 | 2,639 | ||||||
Held-to-maturity securities | 15,614 | 15,074 | |||||||
Advances | 51,538 | 45,415 | |||||||
Mortgage loans held for portfolio, net | 139 | 149 | |||||||
Interest Receivable | 56 | 57 | |||||||
Derivative assets | [3] | 289 | 331 | ||||||
Grantor trust assets (included in Other assets) (1) | [3] | 29 | 35 | ||||||
Liabilities: | |||||||||
Interest-bearing deposits | 2,158 | 2,054 | |||||||
Mandatorily redeemable capital stock | 1 | ||||||||
Interest Payable | 80 | 72 | |||||||
Derivative liabilities (1) | 10 | 22 | [3] | ||||||
Estimate of Fair Value Measurement [Member] | |||||||||
Assets: | |||||||||
Cash and Due from Banks | 938 | 879 | |||||||
Interest-bearing Deposits, Fair Value Disclosure | 689 | 688 | |||||||
Securities purchased under agreements to resell | 3,750 | 7,000 | |||||||
Federal funds sold | 8,736 | 6,420 | |||||||
Available-for-sale Securities | [3] | 2,616 | 2,639 | ||||||
Held-to-maturity securities, fair value | 15,492 | 15,099 | |||||||
Advances | 51,553 | 45,635 | |||||||
Mortgage loans held for portfolio, net | 144 | 161 | |||||||
Accrued Interest Receivable, Fair Value Disclosure | 56 | 57 | |||||||
Derivative assets | [3] | 289 | 331 | ||||||
Grantor trust assets (included in Other assets) (1) | [3] | 29 | 35 | ||||||
Liabilities: | |||||||||
Interest-bearing deposits | 2,158 | 2,054 | |||||||
Mandatorily redeemable capital stock | 1 | ||||||||
Accrued Interest Payable, Fair Value Disclosure | 80 | 72 | |||||||
Derivative liabilities (1) | 10 | 22 | [3] | ||||||
Discount Notes | Fair Value, Inputs, Level 1 [Member] | |||||||||
Liabilities: | |||||||||
Discount notes | 0 | 0 | |||||||
Discount Notes | Fair Value, Inputs, Level 2 [Member] | |||||||||
Liabilities: | |||||||||
Discount notes | 27,226 | 25,506 | |||||||
Discount Notes | Carrying Value [Member] | |||||||||
Liabilities: | |||||||||
Discount notes | 27,228 | 25,506 | |||||||
Discount Notes | Estimate of Fair Value Measurement [Member] | |||||||||
Liabilities: | |||||||||
Discount notes | 27,226 | 25,506 | |||||||
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 | 49,253 | 46,338 | |||||||
Consolidated Obligation Bonds [Member] | Carrying Value [Member] | |||||||||
Liabilities: | |||||||||
Bonds | 49,407 | 46,186 | |||||||
Consolidated Obligation Bonds [Member] | Estimate of Fair Value Measurement [Member] | |||||||||
Liabilities: | |||||||||
Bonds | 49,253 | 46,338 | |||||||
Fair Value, Recurring [Member] | |||||||||
Assets: | |||||||||
Securities purchased under agreements to resell | 0 | 0 | |||||||
Available-for-sale Securities | 0 | 0 | |||||||
Held-to-maturity securities, fair value | $ 0 | 0 | |||||||
Liabilities: | |||||||||
Mandatorily redeemable capital stock | $ 0 | ||||||||
|
Commitments and Contingencies (Details) $ in Millions |
Mar. 31, 2022
USD ($)
letter_of_credit
|
Dec. 31, 2021
USD ($)
letter_of_credit
|
||||
---|---|---|---|---|---|---|
Standby Letters of Credit [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | [1] | $ 3,078 | $ 3,757 | |||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | 3,688 | 3,914 | ||||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | $ 6,766 | $ 7,671 | ||||
Number Of Outstanding Standby Letters Of Credit Renewable Annually | letter_of_credit | 18 | 19 | ||||
Standby Letters Of Credit Issued Renewable Annually | $ 16 | $ 15 | ||||
Commitments to Fund Additional Advances [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | 39 | 96 | ||||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | 30 | 38 | ||||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 69 | 134 | ||||
Unsettled Consolidated Obligation Bonds [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | [2] | 1,151 | 80 | |||
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 | 1,151 | 80 | ||||
Unsettled Discount Notes [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | [2] | 2,000 | 0 | |||
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 | $ 2,000 | $ 0 | ||||
|
Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
---|---|---|
Loss Contingencies [Line Items] | ||
The FHLBank's outstanding consolidated obligations for which the Bank is jointly and severally liable | $ 621,599 | $ 580,909 |
Other liabilities | 648 | 249 |
Standby Letters of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Other liabilities | $ 15 | $ 16 |
Transactions With Shareholders (Details) - USD ($) $ in Millions |
Mar. 31, 2022 |
Dec. 31, 2021 |
||
---|---|---|---|---|
Minimum | ||||
Definition of related party, minimum percent | 10.00% | |||
Definition of shareholder concentration, percentage | 10.00% | |||
Regulatory Capital Stock Outstanding | [1] | $ 4,898 | $ 4,612 | |
Federal Home Loan Bank, Advances, Par Value | 51,767 | 44,927 | ||
TIAA, FSB | ||||
Minimum | ||||
Regulatory Capital Stock Outstanding | $ 277 | |||
Percent of Total Regulatory Capital Stock Outstanding | 11.61% | |||
Federal Home Loan Bank, Advances, Par Value | $ 6,946 | |||
Percent of Total Par Value Advances | 15.46% | |||
Percent of Total Interest-bearing Deposits | 0.05% | |||
Interest-bearing Deposits | $ 1 | |||
Bank of America [Member] | ||||
Minimum | ||||
Regulatory Capital Stock Outstanding | $ 297 | $ 298 | ||
Percent of Total Regulatory Capital Stock Outstanding | 11.20% | 12.49% | ||
Federal Home Loan Bank, Advances, Par Value | $ 7,506 | $ 7,506 | ||
Percent of Total Par Value Advances | 14.50% | 16.71% | ||
Percent of Total Interest-bearing Deposits | 0.00% | 0.02% | ||
Interest-bearing Deposits | $ 0 | $ 0 | ||
|
Subsequent (Details) |
May 03, 2022
USD ($)
|
---|---|
Subsequent Event [Member] | |
Subsequent Event [Line Items] | |
Payments of Dividends | $ 22 |
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