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Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest income:        
Trading securities $ 515 $ 134 $ 980 $ 396
Available-for-sale securities 10 11 29 48
Mortgage loans 30,114 24,798 86,338 73,083
Securities purchased under agreements to resell 171 5 205 17
Other 40 33 93 106
Total interest income 30,850 24,981 87,645 73,650
Interest expense:        
Short-term debt (17) 0 (23) (4)
Long-term debt (23,709) (18,009) (65,291) (51,646)
Total interest expense (23,726) (18,009) (65,314) (51,650)
Net interest income 7,124 6,972 22,331 22,000
Benefit (provision) for credit losses (2,536) 937 (2,994) 4,290
Net interest income after benefit (provision) for credit losses 4,588 7,909 19,337 26,290
Investment gains (losses), net (172) 243 (323) 934
Fair value gains (losses), net 292 (17) 1,301 321
Fee and other income 105 111 269 301
Non-interest income 225 337 1,247 1,556
Administrative expenses:        
Salaries and employee benefits (439) (376) (1,244) (1,128)
Professional services (229) (184) (636) (582)
Other administrative expenses (202) (185) (593) (529)
Total administrative expenses (870) (745) (2,473) (2,239)
Foreclosed property income (expense) 15 (69) 21 (105)
TCCA fees (850) (781) (2,515) (2,270)
Credit enhancement expense (364) (233) (974) (791)
Change in expected credit enhancement recoveries 290 (42) 303 (117)
Other expenses, net (169) (268) (633) (867)
Total expenses (1,948) (2,138) (6,271) (6,389)
Income before federal income taxes 2,865 6,108 14,313 21,457
Provision for federal income taxes (429) (1,266) (2,816) (4,470)
Net income 2,436 4,842 11,497 16,987
Other comprehensive loss:        
Changes in unrealized losses on available-for-sale securities, net of reclassification adjustments and taxes (1) (10) (8) (64)
Other, net of taxes (2) (4) (6) (9)
Total other comprehensive loss (3) (14) (14) (73)
Total comprehensive income 2,433 4,828 11,483 16,914
Dividends distributed or amounts attributable to senior preferred stock (2,433) (4,828) (11,483) (16,914)
Net income attributable to common stockholders 3 14 14 73
Net income attributable to common stockholders $ 3 $ 14 $ 14 $ 73
Earnings per share, Basic (in usd per share) $ 0.00 $ 0.00 $ 0.00 $ 0.01
Earnings per share, Diluted (in usd per share) $ 0.00 $ 0.00 $ 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