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Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Interest income:      
Trading securities $ 524 $ 874 $ 1,627
Available-for-sale securities 58 98 175
Mortgage loans 98,930 106,316 117,374
Securities purchased under agreements to resell or similar arrangements 21 146 843
Other 142 135 163
Total interest income 99,675 107,569 120,182
Interest expense:      
Short-term debt (4) (182) (501)
Long-term debt (70,084) (82,521) (98,388)
Total interest expense (70,088) (82,703) (98,889)
Net interest income 29,587 24,866 21,293
Benefit (provision) for credit losses 5,130 (678) 4,011
Net interest income after benefit (provision) for credit losses 34,717 24,188 25,304
Non-interest Income:      
Investment gains, net 1,352 907 1,770
Fair value gains (losses), net 155 (2,501) (2,214)
Fee and other income 361 462 566
Non-interest income (loss) 1,868 (1,132) 122
Administrative expenses:      
Salaries and employee benefits (1,493) (1,554) (1,486)
Professional services (817) (921) (967)
Other administrative expenses (755) (593) (570)
Total administrative expenses (3,065) (3,068) (3,023)
Foreclosed property expense (33) (177) (515)
Temporary Payroll Tax Cut Continuation Act of 2011 (“TCCA”) fees (3,071) (2,673) (2,432)
Credit enhancement expense (1,051) (1,361) (1,134)
Change in expected credit enhancement recoveries (194) 233 0
Other expenses, net (1,222) (1,131) (745)
Total expenses (8,636) (8,177) (7,849)
Income before federal income taxes 27,949 14,879 17,577
Provision for federal income taxes (5,773) (3,074) (3,417)
Net income 22,176 11,805 14,160
Other comprehensive loss:      
Changes in unrealized gains on available-for-sale securities, net of reclassification adjustments and taxes (67) (23) (179)
Other, net of taxes (11) 8 (12)
Total other comprehensive loss (78) (15) (191)
Total comprehensive income 22,098 11,790 13,969
Dividends distributed or amounts attributable to senior preferred stock (22,098) (11,790) (13,969)
Net income attributable to common stockholders $ 78 $ 15 $ 191
Earnings (loss) per share - basic (in dollars per share) $ 0.01 $ 0.00 $ 0.03
Earnings (loss) per share - diluted (in dollars per share) $ 0.01 $ 0.00 $ 0.03
Weighted-average common shares outstanding, basic 5,867 5,867 5,762
Weighted-average common shares outstanding, diluted 5,893 5,893 5,893