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Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Interest income:      
Investments in securities $ 3,916 $ 4,158 $ 1,828
Mortgage loans 144,152 133,234 117,813
Other 2,498 2,322 656
Total interest income 150,566 139,714 120,297
Interest expense:      
Short-term debt (595) (672) (76)
Long-term debt (121,223) (110,269) (90,798)
Total interest expense (121,818) (110,941) (90,874)
Net interest income 28,748 28,773 29,423
Benefit (provision) for credit losses 186 1,670 (6,277)
Net interest income after benefit (provision) for credit losses 28,934 30,443 23,146
Fair value gains (losses), net 1,821 1,304 1,284
Investment gains (losses), net (38) (53) (297)
Fee and other income 321 275 312
Non-interest income 2,104 1,526 1,299
Non-interest expense:      
Salaries and employee benefits (2,004) (1,906) (1,671)
Professional services, technology, and occupancy (1,615) (1,539) (1,526)
Legislative assessments (3,766) (3,745) (3,788)
Credit enhancement expense (1,641) (1,512) (1,323)
Change in expected credit enhancement recoveries 194 (193) 727
Other expenses, net (937) (1,118) (631)
Total non-interest expense (9,769) (10,013) (8,212)
Income before federal income taxes 21,269 21,956 16,233
Provision for federal income taxes (4,291) (4,548) (3,310)
Net income 16,978 17,408 12,923
Other comprehensive income (loss) (3) (3) (3)
Total comprehensive income 16,975 17,405 12,920
Dividends distributed or amounts attributable to senior preferred stock (16,975) (17,405) (12,920)
Net income attributable to common stockholders, basic 3 3 3
Net income attributable to common stockholders, diluted $ 3 $ 3 $ 3
Earnings per share:      
Basic (in dollars per share) $ 0.00 $ 0.00 $ 0.00
Diluted (in dollars per share) $ 0.00 $ 0.00 $ 0.00
Weighted-average common shares outstanding:      
Basic (in shares) 5,867 5,867 5,867
Diluted (in shares) 5,893 5,893 5,893