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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, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest income:        
Investments in securities $ 1,170 $ 915 $ 2,297 $ 1,836
Mortgage loans 37,693 35,617 75,092 70,833
Other 548 743 1,038 1,404
Total interest income 39,411 37,275 78,427 74,073
Interest expense:        
Short-term debt (103) (130) (208) (325)
Long-term debt (32,153) (29,877) (64,063) (59,457)
Total interest expense (32,256) (30,007) (64,271) (59,782)
Net interest income 7,155 7,268 14,156 14,291
(Provision) benefit for credit losses (946) 300 (970) 480
Net interest income after (provision) benefit for credit losses 6,209 7,568 13,186 14,771
Fair value gains (losses), net 211 447 334 927
Fee and other income 86 68 170 140
Investment gains (losses), net (8) (62) (8) (40)
Non-interest income 289 453 496 1,027
Non-interest expense:        
Salaries and employee benefits (492) (496) (1,103) (1,007)
Professional services, technology, and occupancy (355) (403) (736) (781)
Legislative assessments (939) (939) (1,870) (1,869)
Credit enhancement expense (400) (405) (879) (824)
Other income (expense), net (158) (174) (356) (280)
Total non-interest expense (2,344) (2,417) (4,944) (4,761)
Income before federal income taxes 4,154 5,604 8,738 11,037
Provision for federal income taxes (837) (1,120) (1,760) (2,233)
Net income 3,317 4,484 6,978 8,804
Other comprehensive income (loss) 7 (7) 1 (3)
Total comprehensive income 3,324 4,477 6,979 8,801
Dividends distributed or amounts attributable to senior preferred stock (3,324) (4,477) (6,979) (8,801)
Net income (loss) attributable to common stockholders, basic (7) 7 (1) 3
Net income (loss) attributable to common stockholders, diluted $ (7) $ 7 $ (1) $ 3
Earnings per share, Basic (in usd per share) $ 0.00 $ 0.00 $ 0.00 $ 0.00
Earnings per share, Diluted (in usd per share) $ 0.00 $ 0.00 $ 0.00 $ 0.00
Weighted-average common shares outstanding, Basic (shares) 5,867 5,867 5,867 5,867
Weighted-average common shares outstanding, Diluted (shares) 5,867 5,893 5,867 5,893