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Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income:        
Trading securities $ 219 $ 432 $ 535 $ 859
Available-for-sale securities 26 45 57 98
Mortgage loans 27,007 29,511 55,945 59,373
Federal funds sold and securities purchased under agreements to resell or similar arrangements 14 257 121 520
Other 25 41 59 73
Total interest income 27,291 30,286 56,717 60,923
Interest expense:        
Short-term debt (54) (119) (156) (244)
Long-term debt (21,460) (24,940) (45,437) (50,656)
Total interest expense (21,514) (25,059) (45,593) (50,900)
Net interest income 5,777 5,227 11,124 10,023
Benefit (provision) for credit losses (12) 1,225 (2,595) 1,875
Net interest income after benefit (provision) for credit losses 5,765 6,452 8,529 11,898
Non-interest income (loss):        
Investment gains (losses), net 149 461 (9) 594
Fair value losses, net (1,018) (754) (1,294) (1,585)
Fee and other income 90 113 210 247
Non-interest loss (779) (180) (1,093) (744)
Administrative expenses:        
Salaries and employee benefits (382) (376) (775) (762)
Professional services (231) (233) (443) (458)
Other administrative expenses (141) (135) (285) (268)
Total administrative expenses (754) (744) (1,503) (1,488)
Foreclosed property expense (10) (128) (90) (268)
Temporary Payroll Tax Cut Continuation Act of 2011 (“TCCA”) fees (660) (600) (1,297) (1,193)
Credit enhancement expense (360) (276) (736) (492)
Other expenses, net (261) (203) (479) (365)
Total expenses (1,772) (1,951) (3,644) (3,806)
Income before federal income taxes 3,214 4,321 3,792 7,348
Provision for federal income taxes (669) (889) (786) (1,516)
Other comprehensive income (loss):        
Changes in unrealized gains (losses) on available-for-sale securities, net of reclassification adjustments and taxes (11) (65) 7 (101)
Other, net of taxes (2) (2) (5) (5)
Total other comprehensive income (loss) (13) (67) 2 (106)
Total comprehensive income 2,532 3,365 3,008 5,726
Net income 2,545 3,432 3,006 5,832
Dividends distributed or amounts attributable to senior preferred stock (2,532) (3,365) (3,008) (5,726)
Net income (loss) attributable to common stockholders $ 13 $ 67 $ (2) $ 106
Earnings per share, Basic $ 0.00 $ 0.01 $ (0.00) $ 0.02
Earnings per share, Diluted $ 0.00 $ 0.01 $ (0.00) $ 0.02
Weighted-average common shares outstanding, Basic 5,867 5,762 5,867 5,762
Weighted-average common shares outstanding, Diluted 5,893 5,893 5,867 5,893
Accumulated deficit $ (116,909)   $ (116,909)  
Change in expected credit enhancement recoveries $ 273 $ 0 $ 461 $ 0