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Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Interest income:    
Trading securities $ 140 $ 316
Available-for-sale securities 19 31
Mortgage loans 23,353 28,938
Federal funds sold and securities purchased under agreements to resell or similar arrangements 8 107
Other 42 34
Total interest income 23,562 29,426
Interest expense:    
Short-term debt (3) (102)
Long-term debt (16,817) (23,977)
Total interest expense (16,820) (24,079)
Net interest income 6,742 5,347
Benefit (provision) for credit losses 765 (2,583)
Net interest income after benefit (provision) for credit losses 7,507 2,764
Non-interest income (loss):    
Investment gains (losses), net 45 (158)
Fair value gains (losses), net 784 (276)
Fee and other income 87 120
Non-interest income (loss) 916 (314)
Administrative expenses:    
Salaries and employee benefits (387) (393)
Professional services (214) (212)
Other administrative expenses (147) (144)
Total administrative expenses (748) (749)
Foreclosed Real Estate Income (Expense) 5 (80)
Temporary Payroll Tax Cut Continuation Act of 2011 (“TCCA”) fees (731) (637)
Credit enhancement expense (284) (376)
Change in expected credit enhancement recoveries (31) 188
Other expenses, net (319) (218)
Total expenses (2,108) (1,872)
Income before federal income taxes 6,315 578
Provision for federal income taxes (1,322) (117)
Other comprehensive income (loss):    
Changes in unrealized gains (losses) on available-for-sale securities, net of reclassification adjustments and taxes (23) 18
Other, net of taxes (4) (3)
Total other comprehensive income (loss) (27) 15
Total comprehensive income 4,966 476
Net income 4,993 461
Dividends distributed or amounts attributable to senior preferred stock (4,966) (476)
Net income (loss) attributable to common stockholders $ 27 $ (15)
Earnings per share, Basic $ 0.00 $ (0.00)
Earnings per share, Diluted $ 0.00 $ (0.00)
Weighted-average common shares outstanding, Basic 5,867 5,867
Weighted-average common shares outstanding, Diluted 5,893 5,867