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Balance Sheet Offsetting
 6 Months Ended
Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Balance Sheet Offsetting Balance Sheet Offsetting and Repurchase Agreements
Balance Sheet Offsetting. Certain financial instruments, including resell and repurchase agreements and derivatives, may be eligible for offset in the consolidated balance sheet and/or subject to master netting arrangements or similar agreements. Our derivative transactions with upstream financial institution counterparties are generally executed under International Swaps and Derivative Association (“ISDA”) master agreements which include “right of set-off” provisions. In such cases there is generally a legally enforceable right to offset recognized amounts and there may be an intention to settle such amounts on a net basis. Nonetheless, we do not generally offset such financial instruments for financial reporting purposes.
Information about financial instruments that are eligible for offset in the consolidated balance sheet as of June 30, 2023 is presented in the following tables.
Gross Amount
Recognized		Gross Amount
Offset		Net Amount
Recognized
June 30, 2023
Financial assets:
Derivatives:
Interest rate contracts$92,961 $— $92,961 
Commodity contracts37,369 — 37,369 
Total derivatives130,330 — 130,330 
Resell agreements84,650 — 84,650 
Total$214,980 $— $214,980 
Financial liabilities:
Derivatives:
Interest rate contracts$1,332 $— $1,332 
Commodity contracts28,070 — 28,070 
Total derivatives29,402 — 29,402 
Repurchase agreements3,569,870 — 3,569,870 
Total$3,599,272 $— $3,599,272 
Gross Amounts Not Offset
Net Amount
Recognized		Financial
Instruments		CollateralNet
Amount
June 30, 2023
Financial assets:
Derivatives:
Counterparty B$32,143 $(9,548)$(22,595)$— 
Counterparty E16,312 (896)(15,240)176 
Counterparty F18,387 (8,839)(9,463)85 
Counterparty G10,484 — (10,430)54 
Other counterparties53,004 (10,119)(42,861)24 
Total derivatives130,330 (29,402)(100,589)339 
Resell agreements84,650 — (84,650)— 
Total$214,980 $(29,402)$(185,239)$339 
Financial liabilities:
Derivatives:
Counterparty B$9,548 $(9,548)$— $— 
Counterparty E896 (896)— — 
Counterparty F8,839 (8,839)— — 
Other counterparties10,119 (10,119)— — 
Total derivatives29,402 (29,402)— — 
Repurchase agreements3,569,870 — (3,569,870)— 
Total$3,599,272 $(29,402)$(3,569,870)$— 
Information about financial instruments that are eligible for offset in the consolidated balance sheet as of December 31, 2022 is presented in the following tables.
Gross Amount
Recognized		Gross Amount
Offset		Net Amount
Recognized
December 31, 2022
Financial assets:
Derivatives:
Interest rate contracts$85,691 $— $85,691 
Commodity contracts33,302 — 33,302 
Foreign currency contracts1 — 1 
Total derivatives118,994 — 118,994 
Resell agreements87,150 — 87,150 
Total$206,144 $— $206,144 
Financial liabilities:
Derivatives:
Interest rate contracts$1,102 $— $1,102 
Commodity contracts72,717 — 72,717 
Foreign currency contracts10 — 10 
Total derivatives73,829 — 73,829 
Repurchase agreements4,660,641 — 4,660,641 
Total$4,734,470 $— $4,734,470 
Gross Amounts Not Offset
Net Amount
Recognized		Financial
Instruments		CollateralNet
Amount
December 31, 2022
Financial assets:
Derivatives:
Counterparty B$39,370 $(24,500)$(14,870)$— 
Counterparty E14,430 (47)(14,131)252 
Counterparty F17,297 (17,297)— — 
Counterparty G10,660 — (10,660)— 
Other counterparties37,237 (20,684)(16,307)246 
Total derivatives118,994 (62,528)(55,968)498 
Resell agreements87,150 — (87,150)— 
Total$206,144 $(62,528)$(143,118)$498 
Financial liabilities:
Derivatives:
Counterparty B$24,500 $(24,500)$— $— 
Counterparty E47 (47)— — 
Counterparty F27,747 (17,297)(8,479)1,971 
Counterparty G— — — — 
Other counterparties21,535 (20,684)(851)— 
Total derivatives73,829 (62,528)(9,330)1,971 
Repurchase agreements4,660,641 — (4,660,641)— 
Total$4,734,470 $(62,528)$(4,669,971)$1,971 
Repurchase Agreements. We utilize securities sold under agreements to repurchase to facilitate the needs of our customers and to facilitate secured short-term funding needs. Securities sold under agreements to repurchase are stated at the amount of cash received in connection with the transaction. We monitor collateral levels on a continuous basis. We may be required to provide additional collateral based on the fair value of the underlying securities. Securities pledged as collateral under repurchase agreements are maintained with our safekeeping agents.
The remaining contractual maturity of repurchase agreements in the consolidated balance sheets as of June 30, 2023 and December 31, 2022 is presented in the following tables.
Remaining Contractual Maturity of the Agreements
Overnight and ContinuousUp to 30 Days30-90 DaysGreater than 90 DaysTotal
June 30, 2023
Repurchase agreements:
U.S. Treasury$2,716,439 $— $— $— $2,716,439 
Residential mortgage-backed securities853,431 — — — 853,431 
Total borrowings$3,569,870 $— $— $— $3,569,870 
Gross amount of recognized liabilities for repurchase agreements$3,569,870 
Amounts related to agreements not included in offsetting disclosures above$— 
December 31, 2022
Repurchase agreements:
U.S. Treasury$3,735,061 $— $— $— $3,735,061 
Residential mortgage-backed securities925,580 — — — 925,580 
Total borrowings$4,660,641 $— $— $— $4,660,641 
Gross amount of recognized liabilities for repurchase agreements$4,660,641 
Amounts related to agreements not included in offsetting disclosures above$—