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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, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income:        
Trading securities $ 309 $ 122 $ 465 $ 262
Available-for-sale securities 9 18 19 37
Mortgage loans 29,082 24,932 56,224 48,285
Securities purchased under agreements to resell 28 4 34 12
Other 27 31 53 73
Total interest income 29,455 25,107 56,795 48,669
Interest expense:        
Short-term debt (5) (1) (6) (4)
Long-term debt (21,642) (16,820) (41,582) (33,637)
Total interest expense (21,647) (16,821) (41,588) (33,641)
Net interest income 7,808 8,286 15,207 15,028
Benefit (provision) for credit losses (218) 2,588 (458) 3,353
Net interest income after benefit (provision) for credit losses 7,590 10,874 14,749 18,381
Investment gains (losses), net (49) 646 (151) 691
Fair value gains (losses), net 529 (446) 1,009 338
Fee and other income 81 103 164 190
Non-interest income 561 303 1,022 1,219
Administrative expenses:        
Salaries and employee benefits (398) (365) (805) (752)
Professional services (198) (184) (407) (398)
Other administrative expenses (199) (197) (391) (344)
Total administrative expenses (795) (746) (1,603) (1,494)
Foreclosed property income (expense) (33) (41) 6 (36)
TCCA fees (841) (758) (1,665) (1,489)
Credit enhancement expense (332) (274) (610) (558)
Change in expected credit enhancement recoveries (47) (44) 13 (75)
Other expenses, net (228) (280) (464) (599)
Total expenses (2,276) (2,143) (4,323) (4,251)
Income before federal income taxes 5,875 9,034 11,448 15,349
Provision for federal income taxes (1,222) (1,882) (2,387) (3,204)
Net income 4,653 7,152 9,061 12,145
Other comprehensive loss:        
Changes in unrealized losses on available-for-sale securities, net of reclassification adjustments and taxes (2) (31) (7) (54)
Other, net of taxes (2) (1) (4) (5)
Total other comprehensive loss (4) (32) (11) (59)
Total comprehensive income 4,649 7,120 9,050 12,086
Dividends distributed or amounts attributable to senior preferred stock (4,649) (7,120) (9,050) (12,086)
Net income attributable to common stockholders 4 32 11 59
Net income attributable to common stockholders $ 4 $ 32 $ 11 $ 59
Earnings per share, Basic (in usd per share) $ 0.00 $ 0.01 $ 0.00 $ 0.01
Earnings per share, Diluted (in usd per share) $ 0.00 $ 0.01 $ 0.00 $ 0.01
Weighted-average common shares outstanding, Basic (shares) 5,867 5,867 5,867 5,867
Weighted-average common shares outstanding, Diluted (shares) 5,893 5,893 5,893 5,893