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Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest income:    
Investments in securities $ 981 $ 166
Mortgage loans 32,137 27,142
Other 452 32
Total interest income 33,570 27,340
Interest expense:    
Short-term debt (119) (1)
Long-term debt (26,665) (19,940)
Total interest expense (26,784) (19,941)
Net interest income 6,786 7,399
Provision for credit losses (132) (240)
Net interest income after provision for credit losses 6,654 7,159
Investment losses, net (67) (102)
Fair value gains, net 204 480
Fee and other income 63 83
Non-interest income 200 461
Administrative expenses:    
Salaries and employee benefits (480) (407)
Professional services (184) (209)
Other administrative expenses (204) (192)
Total administrative expenses (868) (808)
TCCA fees (855) (824)
Credit enhancement expense (341) (278)
Change in expected credit enhancement recoveries 120 60
Other expenses, net (130) (197)
Total expenses (2,074) (2,047)
Income before federal income taxes 4,780 5,573
Provision for federal income taxes (1,008) (1,165)
Net income 3,772 4,408
Other comprehensive loss 0 (7)
Total comprehensive income 3,772 4,401
Dividends distributed or amounts attributable to senior preferred stock (3,772) (4,401)
Net income attributable to common stockholders, basic 0 7
Net income attributable to common stockholders, diluted $ 0 $ 7
Earnings per share, Basic (in usd per share) $ (0.00) $ 0.00
Earnings per share, Diluted (in usd per share) $ (0.00) $ 0.00
Weighted-average common shares outstanding, Basic (shares) 5,867 5,867
Weighted-average common shares outstanding, Diluted (shares) 5,867 5,893