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Derivatives and Hedging Activities (Tables)
 9 Months Ended
Sep. 30, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
The following table summarizes the notional balances and estimated fair values of the Bank’s outstanding derivatives at September 30, 2013 and December 31, 2012 (in thousands).
 
 
September 30, 2013
 
December 31, 2012
 
 
Notional Amount of
Derivatives
 
Estimated Fair Value
 
Notional Amount of
Derivatives
 
Estimated Fair Value
 
 
 
Derivative
Assets
 
Derivative
Liabilities
 
 
Derivative
Assets
 
Derivative
Liabilities
Derivatives designated as hedging instruments under ASC 815
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
 
 
 
 
 
 
 
 
 
 
 
 
Advances
 
$
5,041,678

 
$
13,081

 
$
273,413

 
$
6,723,412

 
$
115

 
$
521,397

Available-for-sale securities
 
4,924,934

 
7,013

 
584,956

 
4,924,934

 
30

 
797,572

Consolidated obligation bonds
 
15,944,410

 
42,034

 
104,731

 
19,401,230

 
95,457

 
16,946

Interest rate caps related to advances
 
25,000

 
6

 
—

 
28,000

 
9

 
—

Total derivatives designated as hedging instruments under ASC 815
 
25,936,022

 
62,134

 
963,100

 
31,077,576

 
95,611

 
1,335,915

Derivatives not designated as hedging instruments under ASC 815
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
 
 
 
 
 
 
 
 
 
 
 
 
Advances
 
14,800

 
—

 
45

 
5,292

 
—

 
59

Consolidated obligation bonds
 
—

 
—

 
—

 
650,000

 
969

 
—

Basis swaps
 
3,700,000

 
12,181

 
—

 
4,700,000

 
13,001

 
—

Intermediary transactions
 
110,896

 
4,167

 
3,939

 
104,154

 
7,029

 
6,805

Interest rate swaptions related to optional advance commitments
 
—

 
—

 
—

 
50,000

 
—

 
—

Interest rate caps
 
 
 
 
 
 
 
 
 
 
 
 
Held-to-maturity securities
 
4,100,000

 
960

 
—

 
3,900,000

 
295

 
—

Intermediary transactions
 
110,000

 
2,816

 
2,816

 
110,000

 
1,809

 
1,809

Total derivatives not designated as hedging instruments under ASC 815
 
8,035,696

 
20,124

 
6,800

 
9,519,446

 
23,103

 
8,673

Total derivatives before collateral and netting adjustments
 
$
33,971,718

 
82,258

 
969,900

 
$
40,597,022

 
118,714

 
1,344,588

 
 
 
 
 
 
 
 
 
 
 
 
 
Cash collateral and related accrued interest
 
 
 
(937
)
 
(893,024
)
 
 
 
—

 
(1,228,553
)
Netting adjustments
 
 
 
(66,880
)
 
(66,880
)
 
 
 
(104,767
)
 
(104,767
)
Total collateral and netting adjustments(1)
 
 
 
(67,817
)
 
(959,904
)
 
 
 
(104,767
)
 
(1,333,320
)
Net derivative balances reported in statements of condition
 
 
 
$
14,441

 
$
9,996

 
 
 
$
13,947

 
$
11,268

_____________________________
(1) 
Amounts represent the effect of legally enforceable master netting agreements or other legally enforceable arrangements between the Bank and its derivative counterparties that allow the Bank to offset positive and negative positions as well as the cash collateral held or placed with those same counterparties.
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]
The following table presents the components of net gains (losses) on derivatives and hedging activities as presented in the statements of income for the three and nine months ended September 30, 2013 and 2012 (in thousands).

 
Gain (Loss) Recognized in Earnings for the
 
Gain (Loss) Recognized in Earnings for the
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2013
 
2012
 
2013
 
2012
Derivatives and hedged items in ASC 815 fair value hedging relationships
 
 
 
 
 
 
 
Interest rate swaps
$
601

 
$
(896
)
 
$
2,850

 
$
(3,213
)
Interest rate caps
(3
)
 
(14
)
 
(3
)
 
(88
)
Total net gain (loss) related to fair value hedge ineffectiveness
598

 
(910
)
 
2,847

 
(3,301
)
Derivatives not designated as hedging instruments under ASC 815
 
 
 
 
 
 
 
Net interest income on interest rate swaps
692

 
2,491

 
2,958

 
8,357

Interest rate swaps
 

 
 

 
 

 
 

Advances
139

 
2

 
190

 
50

Consolidated obligation bonds
(154
)
 
395

 
(769
)
 
2,653

Consolidated obligation discount notes
—

 
—

 
—

 
784

Basis swaps
(1,270
)
 
(8,383
)
 
(452
)
 
(7,878
)
Intermediary transactions
(7
)
 
(3
)
 
4

 
(7
)
Interest rate swaptions related to optional advance commitments
—

 
(199
)
 
—

 
(1,933
)
Interest rate caps
 
 
 
 
 
 
 
Held-to-maturity securities
(661
)
 
(501
)
 
(565
)
 
(3,301
)
Intermediary transactions
—

 
—

 
—

 
6

Total net gain (loss) related to derivatives not designated as hedging instruments under ASC 815
(1,261
)
 
(6,198
)
 
1,366

 
(1,269
)
Net gains (losses) on derivatives and hedging activities reported in the statements of income
$
(663
)
 
$
(7,108
)
 
$
4,213

 
$
(4,570
)
Schedule of Derivative Instruments By Type, Gain (Loss) in Statement of Financial Performance [Table Text Block]
The following table presents, by type of hedged item, the gains (losses) on derivatives and the related hedged items in ASC 815 fair value hedging relationships and the impact of those derivatives on the Bank’s net interest income for the three and nine months ended September 30, 2013 and 2012 (in thousands).
Hedged Item
 
Gain (Loss) on
Derivatives
 
Gain (Loss) on
Hedged Items
 
Net Fair Value
Hedge
Ineffectiveness (1)
 
Derivative Net
Interest Income (Expense)(2)
 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2013
 
 

 
 

 
 

 
 

Advances
 
$
11,284

 
$
(11,539
)
 
$
(255
)
 
$
(32,660
)
Available-for-sale securities
 
(13,603
)
 
14,650

 
1,047

 
(20,117
)
Consolidated obligation bonds
 
10,041

 
(10,235
)
 
(194
)
 
29,898

Total
 
$
7,722

 
$
(7,124
)
 
$
598

 
$
(22,879
)
 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2012
 
 

 
 

 
 

 
 

Advances
 
$
(14,908
)
 
$
14,353

 
$
(555
)
 
$
(39,967
)
Available-for-sale securities
 
(51,566
)
 
51,536

 
(30
)
 
(18,275
)
Consolidated obligation bonds
 
3,550

 
(3,875
)
 
(325
)
 
34,945

Total
 
$
(62,924
)
 
$
62,014

 
$
(910
)
 
$
(23,297
)
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2013
 
 

 
 

 
 

 
 

Advances
 
$
173,158

 
$
(173,037
)
 
$
121

 
$
(107,868
)
Available-for-sale securities
 
152,903

 
(150,404
)
 
2,499

 
(60,327
)
Consolidated obligation bonds
 
(140,643
)
 
140,870

 
227

 
91,822

Total
 
$
185,418

 
$
(182,571
)
 
$
2,847

 
$
(76,373
)
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2012
 
 

 
 

 
 

 
 

Advances
 
$
(18,117
)
 
$
17,006

 
$
(1,111
)
 
$
(128,105
)
Available-for-sale securities
 
(147,513
)
 
147,067

 
(446
)
 
(52,232
)
Consolidated obligation bonds
 
(35,113
)
 
33,369

 
(1,744
)
 
123,386

Total
 
$
(200,743
)
 
$
197,442

 
$
(3,301
)
 
$
(56,951
)
_____________________________
(1) 
Reported as net gains (losses) on derivatives and hedging activities in the statements of income.
(2) 
The net interest income (expense) associated with derivatives in ASC 815 fair value hedging relationships is reported in the statements of income in the interest income/expense line item for the indicated hedged item.