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Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Interest income:    
Investments in securities $ 1,127 $ 921
Mortgage loans 37,399 35,216
Other 490 661
Total interest income 39,016 36,798
Interest expense:    
Short-term debt (105) (195)
Long-term debt (31,910) (29,580)
Total interest expense (32,015) (29,775)
Net interest income 7,001 7,023
(Provision) benefit for credit losses (24) 180
Net interest income after (provision) benefit for credit losses 6,977 7,203
Fair value gains (losses), net 123 480
Fee and other income 84 72
Investment gains (losses), net 0 22
Non-interest income 207 574
Non-interest expense:    
Salaries and employee benefits (611) (511)
Professional services, technology, and occupancy (381) (378)
Legislative assessments (931) (930)
Credit enhancement expense (479) (419)
Other income (expense), net (198) (106)
Total non-interest expense (2,600) (2,344)
Income before federal income taxes 4,584 5,433
Provision for federal income taxes (923) (1,113)
Net income 3,661 4,320
Other comprehensive income (loss) (6) 4
Total comprehensive income 3,655 4,324
Dividends distributed or amounts attributable to senior preferred stock (3,655) (4,324)
Net income (loss) attributable to common stockholders, basic 6 (4)
Net income (loss) attributable to common stockholders, diluted $ 6 $ (4)
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) 5,893 5,867