Document and Entity Information
Document and Entity Information Document - shares | 9 Months Ended | |
Sep. 30, 2019 | Oct. 31, 2019 | |
Cover page. | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2019 | |
Document Transition Report | false | |
Entity File Number | 000-51399 | |
Entity Registrant Name | FEDERAL HOME LOAN BANK OF CINCINNATI | |
Entity Tax Identification Number | 31-6000228 | |
Entity Address, Address Line One | 600 Atrium Two, P.O. Box 598, | |
Entity Address, City or Town | Cincinnati, | |
Entity Address, State or Province | OH | |
Entity Address, Postal Zip Code | 45201-0598 | |
City Area Code | 513 | |
Local Phone Number | 852-7500 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 35,282,272 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Entity Central Index Key | 0001326771 | |
Current Fiscal Year End Date | --12-31 | |
Entity Incorporation, State or Country Code | X1 |
Statements of Condition
Statements of Condition - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | |
ASSETS | |||
Cash and due from banks | $ 15,417 | $ 10,037 | |
Interest-bearing deposits | 599,201 | 122 | |
Securities purchased under agreements to resell | 1,839,576 | 4,402,208 | |
Federal funds sold | 14,082,000 | 10,793,000 | |
Investment securities: | |||
Trading securities | 11,416,483 | 223,980 | |
Available-for-sale securities | 434,177 | 2,402,897 | |
Held-to-maturity securities (includes $0 and $0 pledged as collateral at September 30, 2019 and December 31, 2018, respectively, that may be repledged) (a) | [1] | 14,070,879 | 15,791,222 |
Total investment securities | 25,921,539 | 18,418,099 | |
Advances (includes $10,267 and $10,008 at fair value under fair value option at September 30, 2019 and December 31, 2018, respectively) | 46,358,204 | 54,822,252 | |
Mortgage loans held for portfolio, net of allowance for credit losses of $740 and $840 at September 30, 2019 and December 31, 2018, respectively | 10,883,590 | 10,500,917 | |
Accrued interest receivable | 204,910 | 169,982 | |
Derivative assets | 279,554 | 65,765 | |
Other assets | 27,051 | 20,191 | |
TOTAL ASSETS | 100,211,042 | 99,202,573 | |
LIABILITIES | |||
Deposits | 847,020 | 669,016 | |
Consolidated Obligations: | |||
Discount Notes (includes $13,914,315 and $0 at fair value under fair value option at September 30, 2019 and December 31, 2018, respectively) | 49,553,251 | 46,943,632 | |
Bonds (includes $5,436,423 and $3,906,610 at fair value under fair value option at September 30, 2019 and December 31, 2018, respectively) | 44,590,325 | 45,659,138 | |
Total Consolidated Obligations | 94,143,576 | 92,602,770 | |
Mandatorily redeemable capital stock | 25,612 | 23,184 | |
Accrued interest payable | 144,699 | 147,337 | |
Affordable Housing Program payable | 114,288 | 117,336 | |
Derivative liabilities | 4,076 | 4,586 | |
Other liabilities | 291,685 | 308,128 | |
Total liabilities | 95,570,956 | 93,872,357 | |
Commitments and contingencies | |||
CAPITAL | |||
Capital stock Class B putable ($100 par value); issued and outstanding shares: 35,975 shares at September 30, 2019 and 43,205 shares at December 31, 2018 | 3,597,501 | 4,320,459 | |
Retained earnings: | |||
Unrestricted | 623,830 | 631,971 | |
Restricted | 430,864 | 390,829 | |
Total retained earnings | 1,054,694 | 1,022,800 | |
Accumulated other comprehensive loss | (12,109) | (13,043) | |
Total capital | 4,640,086 | 5,330,216 | |
TOTAL LIABILITIES AND CAPITAL | $ 100,211,042 | $ 99,202,573 | |
[1] | Fair values: $14,082,525 and $15,575,368 at September 30, 2019 and December 31, 2018 , respectively. |
Statements of Condition (Parent
Statements of Condition (Parenthetical) - USD ($) shares in Thousands, $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | |||
Debt Securities, Held-to-maturity, Restricted | $ 0 | $ 0 | |||
Advances, Fair Value Disclosure | [1] | 10,267 | 10,008 | ||
Allowance for credit losses on mortgage loans | $ 740 | $ 840 | |||
Common Stock, Par or Stated Value Per Share | $ 100 | $ 100 | |||
Common Stock, Shares, Issued | 35,975 | 43,205 | |||
Common Stock, Shares, Outstanding | 35,975 | 43,205 | |||
Debt Securities, Held-to-maturity, Fair Value | $ 14,082,525 | $ 15,575,368 | |||
Debt Securities, Held-to-maturity, Restricted [Extensible List] | us-gaap:CollateralPledgedMember | ||||
Consolidated Obligation Bonds [Member] | |||||
Consolidated Obligations, Bonds | $ 5,436,423 | 3,906,610 | |||
Discount Notes [Member] | |||||
Consolidated Obligations, Discount Notes | 13,914,315 | 0 | |||
Fair Value | |||||
Debt Securities, Held-to-maturity, Fair Value | 14,082,525 | 15,575,368 | |||
Fair Value | Consolidated Obligation Bonds [Member] | |||||
Consolidated Obligations, Bonds | 45,032,831 | [2] | 45,385,615 | [3] | |
Fair Value | Discount Notes [Member] | |||||
Consolidated Obligations, Discount Notes | $ 49,558,074 | [4] | $ 46,944,523 | ||
[1] | At September 30, 2019 and December 31, 2018 , none of the Advances were 90 days or more past due or had been placed on non-accrual status. | ||||
[2] | Includes (in thousands) $5,436,423 of Consolidated Obligation Bonds recorded under the fair value option at September 30, 2019 . | ||||
[3] | Includes (in thousands) $3,906,610 of Consolidated Obligation Bonds recorded under the fair value option at December 31, 2018 . | ||||
[4] | Includes (in thousands) $13,914,315 of Consolidated Obligation Discount Notes recorded under the fair value option at September 30, 2019 . |
Statements of Income
Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
INTEREST INCOME: | ||||
Advances | $ 267,537 | $ 342,138 | $ 991,077 | $ 1,009,613 |
Prepayment fees on Advances, net | 724 | 27 | 904 | 488 |
Interest-bearing deposits | 3,823 | 194 | 9,104 | 449 |
Securities purchased under agreements to resell | 13,271 | 15,808 | 54,319 | 33,075 |
Federal funds sold | 62,322 | 44,203 | 185,343 | 130,216 |
Investment securities: | ||||
Trading securities | 61,653 | 35 | 112,213 | 45 |
Available-for-sale securities | 3,284 | 14,222 | 21,697 | 27,677 |
Held-to-maturity securities | 94,740 | 101,174 | 305,192 | 278,951 |
Total investment securities | 159,677 | 115,431 | 439,102 | 306,673 |
Mortgage loans held for portfolio | 83,506 | 80,188 | 257,758 | 235,609 |
Loans to other FHLBanks | 0 | 0 | 70 | 20 |
Total interest income | 590,860 | 597,989 | 1,937,677 | 1,716,143 |
Consolidated Obligations: | ||||
Discount Notes | 238,574 | 207,947 | 794,469 | 604,387 |
Bonds | 260,453 | 256,014 | 823,376 | 725,221 |
Total Consolidated Obligations | 499,027 | 463,961 | 1,617,845 | 1,329,608 |
Deposits | 4,337 | 3,455 | 12,008 | 7,906 |
Loans from other FHLBanks | 3 | 0 | 3 | 5 |
Mandatorily redeemable capital stock | 254 | 413 | 896 | 1,213 |
Total interest expense | 503,621 | 467,829 | 1,630,752 | 1,338,732 |
NET INTEREST INCOME | 87,239 | 130,160 | 306,925 | 377,411 |
NON-INTEREST INCOME (LOSS): | ||||
Net gains (losses) on investment securities | 70,146 | 805 | 263,733 | 800 |
Net gains (losses) on financial instruments held under fair value option | (8,681) | (3,607) | (50,615) | 12,224 |
Net gains (losses) on derivatives and hedging activities | (60,254) | (238,339) | ||
Net gains (losses) on derivatives and hedging activities | (8,804) | (46,769) | ||
Other, net | 3,083 | 2,683 | 8,457 | 8,156 |
Total non-interest income (loss) | 4,294 | (8,923) | (16,764) | (25,589) |
NON-INTEREST EXPENSE: | ||||
Compensation and benefits | 11,173 | 10,315 | 35,208 | 34,465 |
Other operating expenses | 5,498 | 4,987 | 16,443 | 15,082 |
Finance Agency | 1,695 | 1,565 | 5,086 | 4,694 |
Office of Finance | 1,204 | 1,219 | 3,684 | 3,653 |
Other | 2,273 | 1,322 | 7,223 | 5,779 |
Total non-interest expense | 21,843 | 19,408 | 67,644 | 63,673 |
INCOME BEFORE ASSESSMENTS | 69,690 | 101,829 | 222,517 | 288,149 |
Affordable Housing Program assessments | 6,995 | 10,224 | 22,342 | 28,936 |
NET INCOME | $ 62,695 | $ 91,605 | $ 200,175 | $ 259,213 |
Statements of Comprehensive Inc
Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Net income | $ 62,695 | $ 91,605 | $ 200,175 | $ 259,213 |
Other comprehensive income adjustments: | ||||
Net unrealized gains (losses) on available-for-sale securities | (192) | (101) | (442) | 243 |
Pension and postretirement benefits | 459 | 677 | 1,376 | 1,650 |
Total other comprehensive income (loss) adjustments | 267 | 576 | 934 | 1,893 |
Comprehensive income | $ 62,962 | $ 92,181 | $ 201,109 | $ 261,106 |
Statements of Capital
Statements of Capital - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Beginning balance | $ 4,831,113 | $ 5,507,475 | $ 5,330,216 | $ 5,164,513 |
Comprehensive Income | 62,962 | 92,181 | 201,109 | 261,106 |
Proceeds from sale of capital stock, par value | 147,464 | 7,656 | 523,257 | 303,488 |
Repurchase of capital stock, value | (350,000) | (297,252) | (1,238,544) | (297,252) |
Net shares reclassified to mandatorily redeemable capital stock, par value | (6,493) | (7,592) | (7,671) | (5,449) |
Cash dividends on capital stock | (44,960) | (67,829) | (168,281) | (191,767) |
Ending balance | $ 4,640,086 | $ 5,234,639 | $ 4,640,086 | $ 5,234,639 |
Common Stock [Member] | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Shares, Issued beginning balance | 38,065 | 45,391 | 43,205 | 42,411 |
Proceeds from sale of capital stock, shares | 1,475 | 77 | 5,233 | 3,035 |
Repurchase of capital stock, shares | (3,500) | (2,973) | (12,386) | (2,973) |
Net shares reclassified to mandatorily redeemable capital stock, shares | (65) | (76) | (77) | (54) |
Shares, Issued ending balance | 35,975 | 42,419 | 35,975 | 42,419 |
Beginning balance | $ 3,806,530 | $ 4,539,115 | $ 4,320,459 | $ 4,241,140 |
Proceeds from sale of capital stock, par value | 147,464 | 7,656 | 523,257 | 303,488 |
Repurchase of capital stock, value | (350,000) | (297,252) | (1,238,544) | (297,252) |
Net shares reclassified to mandatorily redeemable capital stock, par value | (6,493) | (7,592) | (7,671) | (5,449) |
Ending balance | 3,597,501 | 4,241,927 | 3,597,501 | 4,241,927 |
Retained Earnings, Unrestricted [Member] | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Beginning balance | 618,634 | 627,182 | 631,971 | 617,034 |
Comprehensive Income | 50,156 | 73,284 | 160,140 | 207,370 |
Cash dividends on capital stock | (44,960) | (67,829) | (168,281) | (191,767) |
Ending balance | 623,830 | 632,637 | 623,830 | 632,637 |
Retained Earnings, Restricted [Member] | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Beginning balance | 418,325 | 356,521 | 390,829 | 322,999 |
Comprehensive Income | 12,539 | 18,321 | 40,035 | 51,843 |
Ending balance | 430,864 | 374,842 | 430,864 | 374,842 |
Retained Earnings, Total [Member] | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Beginning balance | 1,036,959 | 983,703 | 1,022,800 | 940,033 |
Comprehensive Income | 62,695 | 91,605 | 200,175 | 259,213 |
Cash dividends on capital stock | (44,960) | (67,829) | (168,281) | (191,767) |
Ending balance | 1,054,694 | 1,007,479 | 1,054,694 | 1,007,479 |
Accumulated Other Comprehensive Loss [Member] | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Beginning balance | (12,376) | (15,343) | (13,043) | (16,660) |
Comprehensive Income | 267 | 576 | 934 | 1,893 |
Ending balance | $ (12,109) | $ (14,767) | $ (12,109) | $ (14,767) |
Statements of Cash Flows
Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
OPERATING ACTIVITIES: | ||
Net income | $ 200,175 | $ 259,213 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 8,900 | 22,308 |
Net change in derivative and hedging activities | (198,494) | 39,727 |
Net change in fair value adjustments on trading securities | (263,733) | (800) |
Net change in fair value adjustments on financial instruments held under fair value option | 50,615 | (12,224) |
Other adjustments | 596 | 0 |
Net change in: | ||
Accrued interest receivable | (35,226) | (43,441) |
Other assets | (994) | 7,977 |
Accrued interest payable | 5,917 | 19,033 |
Other liabilities | 8,005 | 14,600 |
Total adjustments | (424,414) | 47,180 |
Net cash provided by (used in) operating activities | (224,239) | 306,393 |
Net change in: | ||
Interest-bearing deposits | (858,712) | (1,928) |
Securities purchased under agreements to resell | 2,562,632 | 3,210,500 |
Federal funds sold | (3,289,000) | (5,260,000) |
Premises, software, and equipment | (1,753) | (1,531) |
Trading securities: | ||
Proceeds from maturities | 113 | 125 |
Purchases | (10,928,882) | (71,935) |
Available-for-sale securities: | ||
Proceeds from maturities | (5,090,000) | (4,600,000) |
Purchases | (3,128,500) | (5,774,000) |
Held-to-maturity securities: | ||
Proceeds from maturities | 2,694,458 | 2,018,495 |
Purchases | (994,810) | (3,411,173) |
Advances: | ||
Repaid | 1,147,441,338 | 2,336,379,163 |
Originated | (1,138,754,813) | (2,324,286,546) |
Mortgage loans held for portfolio: | ||
Principal collected | 1,221,970 | 859,958 |
Purchases | (1,622,397) | (1,391,681) |
Net cash provided by (used in) investing activities | (568,356) | 6,869,447 |
FINANCING ACTIVITIES: | ||
Net change in deposits and pass-through reserves | 179,964 | 1,144,681 |
Net proceeds (payments) on derivative contracts with financing elements | (373) | (908) |
Net proceeds from issuance of Consolidated Obligations: | ||
Discount Notes | 605,292,074 | 424,259,455 |
Bonds | 24,021,342 | 19,549,736 |
Payments for maturing and retiring Consolidated Obligations: | ||
Discount Notes | (602,674,421) | (425,170,844) |
Bonds | (25,131,800) | (26,773,265) |
Proceeds from issuance of capital stock | 523,257 | 303,488 |
Payments for repurchase of capital stock | (1,238,544) | (297,252) |
Payments for repurchase/redemption of mandatorily redeemable capital stock | (5,243) | (13,106) |
Cash dividends paid | (168,281) | (191,767) |
Net cash provided by (used in) financing activities | 797,975 | (7,189,782) |
Net increase (decrease) in cash and due from banks | 5,380 | (13,942) |
Cash and due from banks at beginning of the period | 10,037 | 26,550 |
Cash and due from banks at end of the period | 15,417 | 12,608 |
Supplemental Disclosures: | ||
Interest paid | 1,649,854 | 1,325,065 |
Affordable Housing Program payments, net | $ 25,390 | $ 25,365 |
Background Information
Background Information | 9 Months Ended |
Sep. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Operations [Text Block] | Background Information The Federal Home Loan Bank of Cincinnati (the FHLB), a federally chartered corporation, is one of 11 District Federal Home Loan Banks (FHLBanks). The FHLBanks are government-sponsored enterprises (GSEs) that serve the public by enhancing the availability of credit for residential mortgages and targeted community development. The FHLB is regulated by the Federal Housing Finance Agency (Finance Agency). |
Basis of Presentation (Notes)
Basis of Presentation (Notes) | 9 Months Ended |
Sep. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Accounting [Text Block] | Basis of Presentation The accompanying interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). The preparation of financial statements in accordance with GAAP requires management to make assumptions and estimates. These assumptions and estimates affect the reported amount of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported amounts of income and expenses. Actual results could differ from these estimates. The interim financial statements presented are unaudited, but they include all adjustments (consisting of only normal recurring adjustments) which are, in the opinion of management, necessary for a fair statement of the financial condition, results of operations, and cash flows for such periods. These financial statements do not include all disclosures associated with annual financial statements and accordingly should be read in conjunction with the audited financial statements and notes included in the FHLB's Annual Report on Form 10-K for the year ended December 31, 2018 filed with the Securities and Exchange Commission (SEC). Results for the nine months ended September 30, 2019 are not necessarily indicative of operating results for the full year. The FHLB presents certain financial instruments, including derivative instruments and securities purchased under agreements to resell, on a net basis when it has a legal right of offset and all other requirements for netting are met (collectively referred to as the netting requirements). For these instruments, the FHLB has elected to offset its asset and liability positions, as well as cash collateral received or pledged, when it has met the netting requirements. The FHLB did not have any offsetting liabilities related to its securities purchased under agreements to resell for the periods presented. The net exposure for these financial instruments can change on a daily basis; therefore, there may be a delay between the time this exposure change is identified and additional collateral is requested, and the time this collateral is received or pledged. Likewise, there may be a delay for excess collateral to be returned. For derivative instruments that meet the requirements for netting, any excess cash collateral received or pledged is recognized as a derivative liability or derivative asset. Additional information regarding these agreements is provided in Note 10. Based on the fair value of the related collateral held, the securities purchased under agreements to resell were fully collateralized for the periods presented. For more information about the FHLB's investments in securities purchased under agreements to resell, see “Item 8. Financial Statements and Supplementary Data - Note 1 - Summary of Significant Accounting Policies” in the FHLB's 2018 Annual Report on Form 10-K. The FHLB did not hold any equity securities as of September 30, 2019 and December 31, 2018 . Reclassifications. Certain amounts in the 2018 financial statements have been reclassified to conform to the presentation as of September 30, 2019 . Specifically, certain cash flow amounts in the prior period Statement of Cash Flows have been reclassified to reflect short-term investment securities purchases and proceeds on a gross, rather than net, basis. Subsequent Events. The FHLB has evaluated subsequent events for potential recognition or disclosure through the issuance of these financial statements and believes there have been no material subsequent events requiring additional disclosure or recognition in these financial statements. |
Recently Issued Accounting Stan
Recently Issued Accounting Standards and Interpretations | 9 Months Ended |
Sep. 30, 2019 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recently Issued Accounting Standards and Interpretations [Text Block] | Recently Issued Accounting Standards and Interpretations Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes. On October 25, 2018, the Financial Accounting Standards Board (FASB) issued guidance that permits the OIS rate based on SOFR as an eligible U.S. benchmark interest rate for hedge accounting purposes, to facilitate the London InterBank Offered Rate (LIBOR) to SOFR transition. This guidance became effective for the FHLB for the interim and annual periods beginning on January 1, 2019 (concurrent with the adoption of the hedging standard mentioned below). This guidance was adopted prospectively for qualifying new or re-designated hedging relationships entered into on or after January 1, 2019. Upon adoption, this guidance did not have an impact on the FHLB’s financial condition, results of operations, or cash flows. Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. On August 29, 2018, the FASB issued amended guidance that aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). This guidance becomes effective for the FHLB for the interim and annual periods beginning on January 1, 2020. Early adoption is permitted. The FHLB does not intend to adopt this guidance early. The guidance will not have a material impact on the FHLB’s financial condition, results of operations, and cash flows. Changes to the Disclosure Requirements for Defined Benefit Plans. On August 28, 2018, the FASB issued amended guidance that modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans to improve disclosure effectiveness. This guidance becomes effective for annual periods ending after December 15, 2020 (December 31, 2020 for the FHLB) and will be applied retrospectively for all comparative periods presented. Early adoption is permitted. The FHLB does not intend to adopt this guidance early. The adoption of this guidance will affect the FHLB's disclosures, but will not have any effect on the FHLB's financial condition, results of operations, or cash flows. Changes to the Disclosure Requirements for Fair Value Measurement. On August 28, 2018, the FASB issued amended guidance that modifies the disclosure requirements for fair value measurements to improve disclosure effectiveness. This guidance becomes effective for the FHLB for the interim and annual periods beginning on January 1, 2020. Early adoption is permitted. The FHLB does not intend to adopt this guidance early. The adoption of this guidance will affect the FHLB's disclosures, but will not have any effect on the FHLB's financial condition, results of operations, or cash flows. Targeted Improvements to Accounting for Hedging Activities. On August 28, 2017, the FASB issued amended guidance to improve the financial reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its financial statements. This guidance requires that, for fair value hedges, the entire change in the fair value of the hedging instrument included in the assessment of hedge effectiveness be presented in the same income statement line that is used to present the earnings effect of the hedged item. In addition, the amendments include certain targeted improvements to the assessment of hedge effectiveness. This guidance became effective for the FHLB for the interim and annual periods beginning on January 1, 2019 and was applied to all existing hedging relationships as of that date. On January 1, 2019, the FHLB modified the presentation of fair value hedge results on its Statements of Income, as well as relevant disclosures, prospectively. However, the adoption of this guidance did not have a material effect on the FHLB's financial condition, results of operations, or cash flows. Premium Amortization on Purchased Callable Debt Securities. On March 30, 2017, the FASB issued amended guidance to shorten the amortization period for certain purchased callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. This guidance was adopted on January 1, 2019, and is applied using a modified retrospective method through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The guidance did not have an impact on the FHLB’s financial condition, results of operations, or cash flows. Measurement of Credit Losses on Financial Instruments. On June 16, 2016, the FASB issued amended guidance for the accounting of credit losses on financial instruments. The amendments require entities to immediately record the full amount of expected credit losses in their loan portfolios. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. The guidance also requires, among other things, credit losses relating to available-for-sale debt securities to be recorded through an allowance for credit losses and expanded disclosure requirements. The guidance becomes effective for the FHLB for the interim and annual periods beginning on January 1, 2020. Early adoption is permitted. The FHLB does not intend to adopt the new guidance early. The guidance should be applied using a modified-retrospective approach, through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. In addition, entities are required to use a prospective transition approach for debt securities for which an other-than-temporary impairment had been recognized before the effective date. Based on its preliminary assessments, the FHLB does not expect the guidance to result in an allowance for credit losses for certain financial instruments including Advances, U.S. obligation/GSE investments, securities purchased under agreement to resell and other short-term investments given the specific terms, issuer guarantees, and/or collateralized/secured nature of the instruments. For mortgage loans held for portfolio, the FHLB expects the guidance to have an immaterial impact. However, the guidance's ultimate impact on the FHLB's financial condition, results of operations, and cash flows may change depending upon the composition of the FHLB’s financial assets at the adoption date and the economic conditions and forecasts at that time. Leases. On February 25, 2016, the FASB issued guidance that requires recognition of lease assets and lease liabilities on the Statement of Condition and disclosure of key information about leasing arrangements. In particular, this guidance requires a lessee, of operating or finance leases, to recognize on the Statement of Condition a liability to make lease payments and a right-of-use asset representing its right to use the underlying asset for the lease term. This guidance became effective for the FHLB for the interim and annual periods beginning on January 1, 2019. The FHLB elected to adopt this guidance using the modified retrospective method, and therefore, did not restate prior periods. On January 1, 2019, the FHLB recognized a right-of-use asset of $ 5,473,000 in other assets and a lease liability of $ 6,141,000 in other liabilities on its Statement of Condition for its operating leases. As permitted, the FHLB elected to not recognize a right-of-use asset or lease liability for its leases with terms of 12 months or less. The FHLB has determined that its leasing activities are not material to its financial condition, results of operations, or cash flows. |
Trading Securities
Trading Securities | 9 Months Ended |
Sep. 30, 2019 | |
Debt Securities, Trading, and Equity Securities, FV-NI [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Trading Securities Table 3.1 - Trading Securities by Major Security Types (in thousands) Fair Value September 30, 2019 December 31, 2018 Non-mortgage-backed securities (non-MBS): U.S. Treasury obligations $ 9,386,559 $ — GSE obligations 2,029,426 223,368 Total non-MBS 11,415,985 223,368 Mortgage-backed securities (MBS): U.S. obligation single-family MBS 498 612 Total $ 11,416,483 $ 223,980 Table 3.2 - Net Gains (Losses) on Trading Securities (in thousands) Nine Months Ended September 30, 2019 2018 Net gains (losses) on trading securities held at period end $ 263,733 $ 800 Net gains (losses) on trading securities $ 263,733 $ 800 Table 4.1 - Available-for-Sale Securities by Major Security Types (in thousands) September 30, 2019 Amortized Cost (1) Gross Unrealized Gains Gross Unrealized Losses Fair Value Certificates of deposit $ 300,000 $ 3 $ — $ 300,003 GSE obligations 134,729 200 (755 ) 134,174 Total $ 434,729 $ 203 $ (755 ) $ 434,177 December 31, 2018 Amortized Cost (1) Gross Unrealized Gains Gross Unrealized Losses Fair Value Certificates of deposit $ 2,350,000 $ 71 $ (69 ) $ 2,350,002 GSE obligations 53,007 16 (128 ) 52,895 Total $ 2,403,007 $ 87 $ (197 ) $ 2,402,897 (1) Amortized cost of available-for-sale securities includes adjustments made to the cost basis of an investment for accretion, amortization, and/or fair value hedge accounting adjustments. All securities outstanding with gross unrealized losses at September 30, 2019 and December 31, 2018 were in a continuous unrealized loss position for less than 12 months. Table 4.2 - Available-for-Sale Securities by Contractual Maturity (in thousands) September 30, 2019 December 31, 2018 Year of Maturity Amortized Cost Fair Value Amortized Cost Fair Value Due in 1 year or less $ 300,000 $ 300,003 $ 2,350,000 $ 2,350,002 Due after 1 year through 5 years — — — — Due after 5 years through 10 years 122,166 121,648 48,999 48,904 Due after 10 years 12,563 12,526 4,008 3,991 Total $ 434,729 $ 434,177 $ 2,403,007 $ 2,402,897 Table 4.3 - Interest Rate Payment Terms of Available-for-Sale Securities (in thousands) September 30, 2019 December 31, 2018 Amortized cost of available-for-sale securities: Fixed-rate $ 434,729 $ 2,403,007 Realized Gains and Losses. The FHLB had no sales of securities out of its available-for-sale portfolio for the nine months ended September 30, 2019 or 2018 . Table 5.1 - Held-to-Maturity Securities by Major Security Types (in thousands) September 30, 2019 Amortized Cost (1) Gross Unrecognized Holding Gains Gross Unrecognized Holding Losses Fair Value Non-MBS: U.S. Treasury obligations $ 34,991 $ 23 $ — $ 35,014 Total non-MBS 34,991 23 — 35,014 MBS: U.S. obligation single-family MBS 1,767,788 15,786 (26 ) 1,783,548 GSE single-family MBS 4,790,602 43,214 (24,923 ) 4,808,893 GSE multi-family MBS 7,477,498 87 (22,515 ) 7,455,070 Total MBS 14,035,888 59,087 (47,464 ) 14,047,511 Total $ 14,070,879 $ 59,110 $ (47,464 ) $ 14,082,525 December 31, 2018 Amortized Cost (1) Gross Unrecognized Holding Gains Gross Unrecognized Holding Losses Fair Value Non-MBS: U.S. Treasury obligations $ 35,667 $ — $ (6 ) $ 35,661 Total non-MBS 35,667 — (6 ) 35,661 MBS: U.S. obligation single-family MBS 2,040,642 540 (47,463 ) 1,993,719 GSE single-family MBS 5,543,524 9,891 (162,097 ) 5,391,318 GSE multi-family MBS 8,171,389 1,739 (18,458 ) 8,154,670 Total MBS 15,755,555 12,170 (228,018 ) 15,539,707 Total $ 15,791,222 $ 12,170 $ (228,024 ) $ 15,575,368 (1) Carrying value equals amortized cost. Table 5.2 - Net Purchased Premiums Included in the Amortized Cost of MBS Classified as Held-to-Maturity (in thousands) September 30, 2019 December 31, 2018 Premiums $ 32,794 $ 42,299 Discounts (14,397 ) (19,730 ) Net purchased premiums $ 18,397 $ 22,569 Table 5.3 summarizes the held-to-maturity securities with unrealized losses, which are aggregated by major security type and length of time that individual securities have been in a continuous unrealized loss position. Table 5.3 - Held-to-Maturity Securities in a Continuous Unrealized Loss Position (in thousands) September 30, 2019 Less than 12 Months 12 Months or more Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses MBS: U.S. obligation single-family MBS $ 40,500 $ (26 ) $ — $ — $ 40,500 $ (26 ) GSE single-family MBS 426,932 (1,788 ) 2,182,778 (23,135 ) 2,609,710 (24,923 ) GSE multi-family MBS 4,395,597 (10,474 ) 2,725,621 (12,041 ) 7,121,218 (22,515 ) Total $ 4,863,029 $ (12,288 ) $ 4,908,399 $ (35,176 ) $ 9,771,428 $ (47,464 ) December 31, 2018 Less than 12 Months 12 Months or more Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Non-MBS: U.S. Treasury obligations $ 35,661 $ (6 ) $ — $ — $ 35,661 $ (6 ) Total non-MBS 35,661 (6 ) — — 35,661 (6 ) MBS: U.S. obligation single-family MBS 175,663 (1,571 ) 1,526,835 (45,892 ) 1,702,498 (47,463 ) GSE single-family MBS 401,509 (1,581 ) 3,859,608 (160,516 ) 4,261,117 (162,097 ) GSE multi-family MBS 5,976,323 (18,185 ) 229,739 (273 ) 6,206,062 (18,458 ) Total MBS 6,553,495 (21,337 ) 5,616,182 (206,681 ) 12,169,677 (228,018 ) Total $ 6,589,156 $ (21,343 ) $ 5,616,182 $ (206,681 ) $ 12,205,338 $ (228,024 ) Table 5.4 - Held-to-Maturity Securities by Contractual Maturity (in thousands) September 30, 2019 December 31, 2018 Year of Maturity Amortized Cost (1) Fair Value Amortized Cost (1) Fair Value Non-MBS: Due in 1 year or less $ 34,991 $ 35,014 $ 35,667 $ 35,661 Due after 1 year through 5 years — — — — Due after 5 years through 10 years — — — — Due after 10 years — — — — Total non-MBS 34,991 35,014 35,667 35,661 MBS (2) 14,035,888 14,047,511 15,755,555 15,539,707 Total $ 14,070,879 $ 14,082,525 $ 15,791,222 $ 15,575,368 (1) Carrying value equals amortized cost. (2) MBS are not presented by contractual maturity because their expected maturities will likely differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees. Table 5.5 - Interest Rate Payment Terms of Held-to-Maturity Securities (in thousands) September 30, 2019 December 31, 2018 Amortized cost of non-MBS: Fixed-rate $ 34,991 $ 35,667 Total amortized cost of non-MBS 34,991 35,667 Amortized cost of MBS: Fixed-rate 5,770,756 6,652,055 Variable-rate 8,265,132 9,103,500 Total amortized cost of MBS 14,035,888 15,755,555 Total $ 14,070,879 $ 15,791,222 Realized Gains and Losses. From time to time the FHLB may sell securities out of its held-to-maturity portfolio. These securities, generally, have less than 15 percent of the acquired principal outstanding at the time of the sale. These sales are considered maturities for the purposes of security classification. For the nine months ended September 30, 2019 and 2018, the FHLB did not sell any held-to-maturity securities. |
Available-for-Sale Securities
Available-for-Sale Securities | 9 Months Ended |
Sep. 30, 2019 | |
Debt Securities, Available-for-sale [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Trading Securities Table 3.1 - Trading Securities by Major Security Types (in thousands) Fair Value September 30, 2019 December 31, 2018 Non-mortgage-backed securities (non-MBS): U.S. Treasury obligations $ 9,386,559 $ — GSE obligations 2,029,426 223,368 Total non-MBS 11,415,985 223,368 Mortgage-backed securities (MBS): U.S. obligation single-family MBS 498 612 Total $ 11,416,483 $ 223,980 Table 3.2 - Net Gains (Losses) on Trading Securities (in thousands) Nine Months Ended September 30, 2019 2018 Net gains (losses) on trading securities held at period end $ 263,733 $ 800 Net gains (losses) on trading securities $ 263,733 $ 800 Table 4.1 - Available-for-Sale Securities by Major Security Types (in thousands) September 30, 2019 Amortized Cost (1) Gross Unrealized Gains Gross Unrealized Losses Fair Value Certificates of deposit $ 300,000 $ 3 $ — $ 300,003 GSE obligations 134,729 200 (755 ) 134,174 Total $ 434,729 $ 203 $ (755 ) $ 434,177 December 31, 2018 Amortized Cost (1) Gross Unrealized Gains Gross Unrealized Losses Fair Value Certificates of deposit $ 2,350,000 $ 71 $ (69 ) $ 2,350,002 GSE obligations 53,007 16 (128 ) 52,895 Total $ 2,403,007 $ 87 $ (197 ) $ 2,402,897 (1) Amortized cost of available-for-sale securities includes adjustments made to the cost basis of an investment for accretion, amortization, and/or fair value hedge accounting adjustments. All securities outstanding with gross unrealized losses at September 30, 2019 and December 31, 2018 were in a continuous unrealized loss position for less than 12 months. Table 4.2 - Available-for-Sale Securities by Contractual Maturity (in thousands) September 30, 2019 December 31, 2018 Year of Maturity Amortized Cost Fair Value Amortized Cost Fair Value Due in 1 year or less $ 300,000 $ 300,003 $ 2,350,000 $ 2,350,002 Due after 1 year through 5 years — — — — Due after 5 years through 10 years 122,166 121,648 48,999 48,904 Due after 10 years 12,563 12,526 4,008 3,991 Total $ 434,729 $ 434,177 $ 2,403,007 $ 2,402,897 Table 4.3 - Interest Rate Payment Terms of Available-for-Sale Securities (in thousands) September 30, 2019 December 31, 2018 Amortized cost of available-for-sale securities: Fixed-rate $ 434,729 $ 2,403,007 Realized Gains and Losses. The FHLB had no sales of securities out of its available-for-sale portfolio for the nine months ended September 30, 2019 or 2018 . Table 5.1 - Held-to-Maturity Securities by Major Security Types (in thousands) September 30, 2019 Amortized Cost (1) Gross Unrecognized Holding Gains Gross Unrecognized Holding Losses Fair Value Non-MBS: U.S. Treasury obligations $ 34,991 $ 23 $ — $ 35,014 Total non-MBS 34,991 23 — 35,014 MBS: U.S. obligation single-family MBS 1,767,788 15,786 (26 ) 1,783,548 GSE single-family MBS 4,790,602 43,214 (24,923 ) 4,808,893 GSE multi-family MBS 7,477,498 87 (22,515 ) 7,455,070 Total MBS 14,035,888 59,087 (47,464 ) 14,047,511 Total $ 14,070,879 $ 59,110 $ (47,464 ) $ 14,082,525 December 31, 2018 Amortized Cost (1) Gross Unrecognized Holding Gains Gross Unrecognized Holding Losses Fair Value Non-MBS: U.S. Treasury obligations $ 35,667 $ — $ (6 ) $ 35,661 Total non-MBS 35,667 — (6 ) 35,661 MBS: U.S. obligation single-family MBS 2,040,642 540 (47,463 ) 1,993,719 GSE single-family MBS 5,543,524 9,891 (162,097 ) 5,391,318 GSE multi-family MBS 8,171,389 1,739 (18,458 ) 8,154,670 Total MBS 15,755,555 12,170 (228,018 ) 15,539,707 Total $ 15,791,222 $ 12,170 $ (228,024 ) $ 15,575,368 (1) Carrying value equals amortized cost. Table 5.2 - Net Purchased Premiums Included in the Amortized Cost of MBS Classified as Held-to-Maturity (in thousands) September 30, 2019 December 31, 2018 Premiums $ 32,794 $ 42,299 Discounts (14,397 ) (19,730 ) Net purchased premiums $ 18,397 $ 22,569 Table 5.3 summarizes the held-to-maturity securities with unrealized losses, which are aggregated by major security type and length of time that individual securities have been in a continuous unrealized loss position. Table 5.3 - Held-to-Maturity Securities in a Continuous Unrealized Loss Position (in thousands) September 30, 2019 Less than 12 Months 12 Months or more Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses MBS: U.S. obligation single-family MBS $ 40,500 $ (26 ) $ — $ — $ 40,500 $ (26 ) GSE single-family MBS 426,932 (1,788 ) 2,182,778 (23,135 ) 2,609,710 (24,923 ) GSE multi-family MBS 4,395,597 (10,474 ) 2,725,621 (12,041 ) 7,121,218 (22,515 ) Total $ 4,863,029 $ (12,288 ) $ 4,908,399 $ (35,176 ) $ 9,771,428 $ (47,464 ) December 31, 2018 Less than 12 Months 12 Months or more Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Non-MBS: U.S. Treasury obligations $ 35,661 $ (6 ) $ — $ — $ 35,661 $ (6 ) Total non-MBS 35,661 (6 ) — — 35,661 (6 ) MBS: U.S. obligation single-family MBS 175,663 (1,571 ) 1,526,835 (45,892 ) 1,702,498 (47,463 ) GSE single-family MBS 401,509 (1,581 ) 3,859,608 (160,516 ) 4,261,117 (162,097 ) GSE multi-family MBS 5,976,323 (18,185 ) 229,739 (273 ) 6,206,062 (18,458 ) Total MBS 6,553,495 (21,337 ) 5,616,182 (206,681 ) 12,169,677 (228,018 ) Total $ 6,589,156 $ (21,343 ) $ 5,616,182 $ (206,681 ) $ 12,205,338 $ (228,024 ) Table 5.4 - Held-to-Maturity Securities by Contractual Maturity (in thousands) September 30, 2019 December 31, 2018 Year of Maturity Amortized Cost (1) Fair Value Amortized Cost (1) Fair Value Non-MBS: Due in 1 year or less $ 34,991 $ 35,014 $ 35,667 $ 35,661 Due after 1 year through 5 years — — — — Due after 5 years through 10 years — — — — Due after 10 years — — — — Total non-MBS 34,991 35,014 35,667 35,661 MBS (2) 14,035,888 14,047,511 15,755,555 15,539,707 Total $ 14,070,879 $ 14,082,525 $ 15,791,222 $ 15,575,368 (1) Carrying value equals amortized cost. (2) MBS are not presented by contractual maturity because their expected maturities will likely differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees. Table 5.5 - Interest Rate Payment Terms of Held-to-Maturity Securities (in thousands) September 30, 2019 December 31, 2018 Amortized cost of non-MBS: Fixed-rate $ 34,991 $ 35,667 Total amortized cost of non-MBS 34,991 35,667 Amortized cost of MBS: Fixed-rate 5,770,756 6,652,055 Variable-rate 8,265,132 9,103,500 Total amortized cost of MBS 14,035,888 15,755,555 Total $ 14,070,879 $ 15,791,222 Realized Gains and Losses. From time to time the FHLB may sell securities out of its held-to-maturity portfolio. These securities, generally, have less than 15 percent of the acquired principal outstanding at the time of the sale. These sales are considered maturities for the purposes of security classification. For the nine months ended September 30, 2019 and 2018, the FHLB did not sell any held-to-maturity securities. |
Held-to-Maturity Securities
Held-to-Maturity Securities | 9 Months Ended |
Sep. 30, 2019 | |
Debt Securities, Held-to-maturity [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Trading Securities Table 3.1 - Trading Securities by Major Security Types (in thousands) Fair Value September 30, 2019 December 31, 2018 Non-mortgage-backed securities (non-MBS): U.S. Treasury obligations $ 9,386,559 $ — GSE obligations 2,029,426 223,368 Total non-MBS 11,415,985 223,368 Mortgage-backed securities (MBS): U.S. obligation single-family MBS 498 612 Total $ 11,416,483 $ 223,980 Table 3.2 - Net Gains (Losses) on Trading Securities (in thousands) Nine Months Ended September 30, 2019 2018 Net gains (losses) on trading securities held at period end $ 263,733 $ 800 Net gains (losses) on trading securities $ 263,733 $ 800 Table 4.1 - Available-for-Sale Securities by Major Security Types (in thousands) September 30, 2019 Amortized Cost (1) Gross Unrealized Gains Gross Unrealized Losses Fair Value Certificates of deposit $ 300,000 $ 3 $ — $ 300,003 GSE obligations 134,729 200 (755 ) 134,174 Total $ 434,729 $ 203 $ (755 ) $ 434,177 December 31, 2018 Amortized Cost (1) Gross Unrealized Gains Gross Unrealized Losses Fair Value Certificates of deposit $ 2,350,000 $ 71 $ (69 ) $ 2,350,002 GSE obligations 53,007 16 (128 ) 52,895 Total $ 2,403,007 $ 87 $ (197 ) $ 2,402,897 (1) Amortized cost of available-for-sale securities includes adjustments made to the cost basis of an investment for accretion, amortization, and/or fair value hedge accounting adjustments. All securities outstanding with gross unrealized losses at September 30, 2019 and December 31, 2018 were in a continuous unrealized loss position for less than 12 months. Table 4.2 - Available-for-Sale Securities by Contractual Maturity (in thousands) September 30, 2019 December 31, 2018 Year of Maturity Amortized Cost Fair Value Amortized Cost Fair Value Due in 1 year or less $ 300,000 $ 300,003 $ 2,350,000 $ 2,350,002 Due after 1 year through 5 years — — — — Due after 5 years through 10 years 122,166 121,648 48,999 48,904 Due after 10 years 12,563 12,526 4,008 3,991 Total $ 434,729 $ 434,177 $ 2,403,007 $ 2,402,897 Table 4.3 - Interest Rate Payment Terms of Available-for-Sale Securities (in thousands) September 30, 2019 December 31, 2018 Amortized cost of available-for-sale securities: Fixed-rate $ 434,729 $ 2,403,007 Realized Gains and Losses. The FHLB had no sales of securities out of its available-for-sale portfolio for the nine months ended September 30, 2019 or 2018 . Table 5.1 - Held-to-Maturity Securities by Major Security Types (in thousands) September 30, 2019 Amortized Cost (1) Gross Unrecognized Holding Gains Gross Unrecognized Holding Losses Fair Value Non-MBS: U.S. Treasury obligations $ 34,991 $ 23 $ — $ 35,014 Total non-MBS 34,991 23 — 35,014 MBS: U.S. obligation single-family MBS 1,767,788 15,786 (26 ) 1,783,548 GSE single-family MBS 4,790,602 43,214 (24,923 ) 4,808,893 GSE multi-family MBS 7,477,498 87 (22,515 ) 7,455,070 Total MBS 14,035,888 59,087 (47,464 ) 14,047,511 Total $ 14,070,879 $ 59,110 $ (47,464 ) $ 14,082,525 December 31, 2018 Amortized Cost (1) Gross Unrecognized Holding Gains Gross Unrecognized Holding Losses Fair Value Non-MBS: U.S. Treasury obligations $ 35,667 $ — $ (6 ) $ 35,661 Total non-MBS 35,667 — (6 ) 35,661 MBS: U.S. obligation single-family MBS 2,040,642 540 (47,463 ) 1,993,719 GSE single-family MBS 5,543,524 9,891 (162,097 ) 5,391,318 GSE multi-family MBS 8,171,389 1,739 (18,458 ) 8,154,670 Total MBS 15,755,555 12,170 (228,018 ) 15,539,707 Total $ 15,791,222 $ 12,170 $ (228,024 ) $ 15,575,368 (1) Carrying value equals amortized cost. Table 5.2 - Net Purchased Premiums Included in the Amortized Cost of MBS Classified as Held-to-Maturity (in thousands) September 30, 2019 December 31, 2018 Premiums $ 32,794 $ 42,299 Discounts (14,397 ) (19,730 ) Net purchased premiums $ 18,397 $ 22,569 Table 5.3 summarizes the held-to-maturity securities with unrealized losses, which are aggregated by major security type and length of time that individual securities have been in a continuous unrealized loss position. Table 5.3 - Held-to-Maturity Securities in a Continuous Unrealized Loss Position (in thousands) September 30, 2019 Less than 12 Months 12 Months or more Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses MBS: U.S. obligation single-family MBS $ 40,500 $ (26 ) $ — $ — $ 40,500 $ (26 ) GSE single-family MBS 426,932 (1,788 ) 2,182,778 (23,135 ) 2,609,710 (24,923 ) GSE multi-family MBS 4,395,597 (10,474 ) 2,725,621 (12,041 ) 7,121,218 (22,515 ) Total $ 4,863,029 $ (12,288 ) $ 4,908,399 $ (35,176 ) $ 9,771,428 $ (47,464 ) December 31, 2018 Less than 12 Months 12 Months or more Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Non-MBS: U.S. Treasury obligations $ 35,661 $ (6 ) $ — $ — $ 35,661 $ (6 ) Total non-MBS 35,661 (6 ) — — 35,661 (6 ) MBS: U.S. obligation single-family MBS 175,663 (1,571 ) 1,526,835 (45,892 ) 1,702,498 (47,463 ) GSE single-family MBS 401,509 (1,581 ) 3,859,608 (160,516 ) 4,261,117 (162,097 ) GSE multi-family MBS 5,976,323 (18,185 ) 229,739 (273 ) 6,206,062 (18,458 ) Total MBS 6,553,495 (21,337 ) 5,616,182 (206,681 ) 12,169,677 (228,018 ) Total $ 6,589,156 $ (21,343 ) $ 5,616,182 $ (206,681 ) $ 12,205,338 $ (228,024 ) Table 5.4 - Held-to-Maturity Securities by Contractual Maturity (in thousands) September 30, 2019 December 31, 2018 Year of Maturity Amortized Cost (1) Fair Value Amortized Cost (1) Fair Value Non-MBS: Due in 1 year or less $ 34,991 $ 35,014 $ 35,667 $ 35,661 Due after 1 year through 5 years — — — — Due after 5 years through 10 years — — — — Due after 10 years — — — — Total non-MBS 34,991 35,014 35,667 35,661 MBS (2) 14,035,888 14,047,511 15,755,555 15,539,707 Total $ 14,070,879 $ 14,082,525 $ 15,791,222 $ 15,575,368 (1) Carrying value equals amortized cost. (2) MBS are not presented by contractual maturity because their expected maturities will likely differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees. Table 5.5 - Interest Rate Payment Terms of Held-to-Maturity Securities (in thousands) September 30, 2019 December 31, 2018 Amortized cost of non-MBS: Fixed-rate $ 34,991 $ 35,667 Total amortized cost of non-MBS 34,991 35,667 Amortized cost of MBS: Fixed-rate 5,770,756 6,652,055 Variable-rate 8,265,132 9,103,500 Total amortized cost of MBS 14,035,888 15,755,555 Total $ 14,070,879 $ 15,791,222 Realized Gains and Losses. From time to time the FHLB may sell securities out of its held-to-maturity portfolio. These securities, generally, have less than 15 percent of the acquired principal outstanding at the time of the sale. These sales are considered maturities for the purposes of security classification. For the nine months ended September 30, 2019 and 2018, the FHLB did not sell any held-to-maturity securities. |
Other-Than-Temporary Impairment
Other-Than-Temporary Impairment Analysis | 9 Months Ended |
Sep. 30, 2019 | |
Other than Temporary Impairment Losses, Investments [Abstract] | |
Other than Temporary Impairment Analysis [Text Block] | Other-Than-Temporary Impairment Analysis The FHLB evaluates any of its individual available-for-sale and held-to-maturity investment securities holdings in an unrealized loss position for other-than-temporary impairment on a quarterly basis. U.S. Obligations and GSE Investments For its U.S. obligations and GSE investments (MBS and non-MBS), the FHLB has determined that the strength of the issuers' guarantees through direct obligations or support from the U.S. government is sufficient to protect the FHLB from losses based on current expectations. As a result, the FHLB determined that, as of September 30, 2019 , all of the gross unrealized losses on these investments were temporary as the declines in market value of these securities were not attributable to credit quality. Furthermore, the FHLB does not intend to sell the investments, and it is not more likely than not that the FHLB will be required to sell the investments before recovery of their amortized cost bases. As a result, the FHLB did not consider any of these investments to be other-than-temporarily impaired at September 30, 2019 . The FHLB did not consider any of its investments to be other-than-temporarily impaired at December 31, 2018 . |
Advances
Advances | 9 Months Ended |
Sep. 30, 2019 | |
Advances [Abstract] | |
Advances [Text Block] | Advances The FHLB offers a wide range of fixed- and variable-rate Advance products with different maturities, interest rates, payment characteristics and optionality. The following table presents Advance redemptions by contractual maturity, including index-amortizing Advances, which are presented according to their predetermined amortization schedules. Table 7.1 - Advances by Redemption Term (dollars in thousands) September 30, 2019 December 31, 2018 Redemption Term Amount Weighted Average Interest Rate Amount Weighted Average Interest Rate Due in 1 year or less $ 30,921,585 2.16 % $ 38,592,494 2.56 % Due after 1 year through 2 years 4,848,567 2.26 6,461,276 2.39 Due after 2 years through 3 years 1,953,191 2.38 3,146,830 2.30 Due after 3 years through 4 years 1,329,705 2.49 1,145,118 2.56 Due after 4 years through 5 years 1,746,348 2.25 935,439 2.76 Thereafter 5,386,305 2.50 4,591,015 2.98 Total principal amount 46,185,701 2.23 54,872,172 2.56 Commitment fees (329 ) (456 ) Discount on Affordable Housing Program (AHP) Advances (3,451 ) (4,386 ) Premiums 1,294 1,510 Discounts (2,471 ) (3,090 ) Hedging adjustments 177,193 (43,506 ) Fair value option valuation adjustments and accrued interest 267 8 Total $ 46,358,204 $ 54,822,252 The FHLB offers certain fixed and variable-rate Advances to members that may be prepaid on specified dates (call dates) without incurring prepayment or termination fees (callable Advances). If the call option is exercised, replacement funding may be available to members. Other Advances may only be prepaid subject to a prepayment fee paid to the FHLB that makes the FHLB financially indifferent to the prepayment of the Advance. Table 7.2 - Advances by Redemption Term or Next Call Date (in thousands) Redemption Term or Next Call Date September 30, 2019 December 31, 2018 Due in 1 year or less $ 34,181,189 $ 43,793,555 Due after 1 year through 2 years 5,221,817 4,338,117 Due after 2 years through 3 years 1,683,289 3,490,580 Due after 3 years through 4 years 1,195,707 753,716 Due after 4 years through 5 years 1,517,394 905,189 Thereafter 2,386,305 1,591,015 Total principal amount $ 46,185,701 $ 54,872,172 The FHLB also offers putable Advances. With a putable Advance, the FHLB effectively purchases put options from the member that allows the FHLB to terminate the Advance at predetermined dates. The FHLB normally would exercise its put option when interest rates increase relative to contractual rates. Table 7.3 - Advances by Redemption Term or Next Put Date for Putable Advances (in thousands) Redemption Term or Next Put Date September 30, 2019 December 31, 2018 Due in 1 year or less $ 31,935,835 $ 38,827,494 Due after 1 year through 2 years 5,223,567 6,611,276 Due after 2 years through 3 years 2,076,191 3,221,830 Due after 3 years through 4 years 1,259,705 1,145,118 Due after 4 years through 5 years 1,492,098 835,439 Thereafter 4,198,305 4,231,015 Total principal amount $ 46,185,701 $ 54,872,172 Table 7.4 - Advances by Interest Rate Payment Terms (in thousands) September 30, 2019 December 31, 2018 Total fixed-rate (1) $ 31,152,304 $ 23,988,298 Total variable-rate (1) 15,033,397 30,883,874 Total principal amount $ 46,185,701 $ 54,872,172 (1) Payment terms based on current interest rate terms, which reflect any option exercises or rate conversions that have occurred subsequent to the related Advance issuance. Table 7.5 - Borrowers Holding Five Percent or more of Total Advances, Including Any Known Affiliates that are Members of the FHLB (dollars in millions) September 30, 2019 December 31, 2018 Principal % of Total Principal Amount of Advances Principal % of Total Principal Amount of Advances JPMorgan Chase Bank, N.A. $ 8,050 17 % JPMorgan Chase Bank, N.A. $ 23,400 43 % U.S. Bank, N.A. 4,974 11 U.S. Bank, N.A. 4,574 8 Third Federal Savings and Loan Association 3,896 8 Third Federal Savings and Loan Association 3,727 7 Fifth Third Bank 2,856 6 Total $ 31,701 58 % Total $ 19,776 42 % |
Mortgage Loans Held for Portfol
Mortgage Loans Held for Portfolio | 9 Months Ended |
Sep. 30, 2019 | |
Receivables [Abstract] | |
Financing Receivables [Text Block] | Mortgage Loans Held for Portfolio Table 8.1 - Mortgage Loans Held for Portfolio (in thousands) September 30, 2019 December 31, 2018 Unpaid principal balance: Fixed rate medium-term single-family mortgage loans (1) $ 805,059 $ 933,340 Fixed rate long-term single-family mortgage loans 9,832,179 9,338,814 Total unpaid principal balance 10,637,238 10,272,154 Premiums 232,145 227,161 Discounts (2,272 ) (2,603 ) Hedging basis adjustments (2) 17,219 5,045 Total mortgage loans held for portfolio $ 10,884,330 $ 10,501,757 (1) Medium-term is defined as a term of 15 years or less. (2) Represents the unamortized balance of the mortgage purchase commitments' market values at the time of settlement. The market value of the commitment is included in the basis of the mortgage loan and amortized accordingly. Table 8.2 - Mortgage Loans Held for Portfolio by Collateral/Guarantee Type (in thousands) September 30, 2019 December 31, 2018 Unpaid principal balance: Conventional mortgage loans $ 10,396,652 $ 9,999,307 Federal Housing Administration (FHA) mortgage loans 240,586 272,847 Total unpaid principal balance $ 10,637,238 $ 10,272,154 Table 8.3 - Members, Including Any Known Affiliates that are Members of the FHLB, and Former Members Selling Five Percent or more of Total Unpaid Principal (dollars in millions) September 30, 2019 December 31, 2018 Principal % of Total Principal % of Total Union Savings Bank $ 3,590 34 % Union Savings Bank $ 3,449 34 % Guardian Savings Bank FSB 991 9 Guardian Savings Bank FSB 987 10 FirstBank 593 6 |
Allowance for Credit Losses
Allowance for Credit Losses | 9 Months Ended |
Sep. 30, 2019 | |
Receivables [Abstract] | |
Allowance for Credit Losses [Text Block] | Allowance for Credit Losses The FHLB has established an allowance methodology for each of the FHLB's portfolio segments: credit products (Advances, Letters of Credit and other extensions of credit to members); FHA mortgage loans held for portfolio; and conventional mortgage loans held for portfolio. Credit Products The FHLB manages its credit exposure to credit products through an integrated approach that includes establishing a credit limit for each borrower and ongoing review of each borrower's financial condition, coupled with collateral and lending policies to limit risk of loss while balancing borrowers' needs for a reliable source of funding. In addition, the FHLB lends to eligible borrowers in accordance with federal law and Finance Agency regulations, which require the FHLB to obtain sufficient collateral to fully secure credit products. The estimated value of the collateral required to secure each member's credit products is calculated by applying collateral discounts, or haircuts, to the value of the collateral. The FHLB accepts certain investment securities, residential mortgage loans, deposits and other real estate related assets as collateral. In addition, community financial institutions are eligible to utilize expanded statutory collateral provisions for small business, agriculture loans and community development loans. The FHLB's capital stock owned by its member borrowers is also pledged as collateral. Collateral arrangements and a member’s borrowing capacity vary based on the financial condition and performance of the institution, the types of collateral pledged and the overall quality of those assets. The FHLB can also require additional or substitute collateral to protect its security interest. Management of the FHLB believes that these policies effectively manage the FHLB's credit risk from credit products. Members experiencing financial difficulties are subject to FHLB-performed “stress tests” of the impact of poorly performing assets on the member’s capital and loss reserve positions. Depending on the results of these tests and the level of over-collateralization, a member may be allowed to maintain pledged loan assets in its custody, may be required to deliver those loans into the custody of the FHLB or its agent, or may be required to provide details on those loans to facilitate an estimate of their fair value. The FHLB perfects its security interest in all pledged collateral. The FHLBank Act affords any security interest granted to the FHLB by a member priority over the claims or rights of any other party except for claims or rights of a third party that would otherwise be entitled to priority under applicable law and that are held by a bona fide purchaser for value or by a secured party holding a prior perfected security interest. Using a risk-based approach, the FHLB considers the payment status, collateralization levels, and borrower's financial condition to be indicators of credit quality for its credit products. At September 30, 2019 and December 31, 2018 , the FHLB had rights to collateral on a member-by-member basis with an estimated value in excess of its outstanding extensions of credit. The FHLB evaluates and makes changes to its collateral guidelines, as necessary, based on current market conditions. At September 30, 2019 and December 31, 2018 , the FHLB did not have any Advances that were past due, in non-accrual status or impaired. In addition, there were no troubled debt restructurings related to credit products of the FHLB during the nine months ended September 30, 2019 or 2018 . The FHLB has not experienced any credit losses on Advances since it was founded in 1932. Based upon the collateral held as security, its credit extension and collateral policies and the repayment history on credit products, the FHLB did not record any credit losses on credit products as of September 30, 2019 or December 31, 2018 . Accordingly, the FHLB did not record any allowance for credit losses on Advances. At September 30, 2019 and December 31, 2018 , the FHLB did not record any liability to reflect an allowance for credit losses for off-balance sheet credit exposures. See Note 19 for additional information on the FHLB's off-balance sheet credit exposure. Mortgage Loans Held for Portfolio - FHA The FHLB invests in fixed-rate mortgage loans secured by one-to-four family residential properties insured by the FHA. The FHLB expects to recover any losses from such loans from the FHA. Any losses from these loans that are not recovered from the FHA would be due to a claim rejection by the FHA and, as such, would be recoverable from the selling participating financial institutions. Therefore, the FHLB only has credit risk for these loans if the seller or servicer fails to pay for losses not covered by the FHA insurance. As a result, the FHLB did not establish an allowance for credit losses on its FHA insured mortgage loans. Furthermore, due to the insurance, none of these mortgage loans have been placed on non-accrual status. Mortgage Loans Held for Portfolio - Conventional Mortgage Purchase Program (MPP) The FHLB determines the allowance for conventional loans through analyses that include consideration of various data observations such as past performance, current performance, loan portfolio characteristics, collateral-related characteristics, industry data, and prevailing economic conditions. The measurement of the allowance for credit losses consists of: (1) collectively evaluating homogeneous pools of residential mortgage loans; (2) reviewing specifically identified loans for impairment; and (3) considering other relevant qualitative factors. Collectively Evaluated Mortgage Loans. The credit risk analysis of conventional loans evaluated collectively for impairment considers historical delinquency migration, applies estimated loss severities, and incorporates the associated credit enhancements in order to determine the FHLB's best estimate of probable incurred losses at the reporting date. Migration analysis is a methodology for determining, through the FHLB's experience over a historical period, the rate of default on loans. The FHLB applies migration analysis to loans based on payment status categories such as current, 30, 60, and 90 days past due. The FHLB then estimates how many loans in these categories may migrate to a loss realization event and applies a current loss severity to estimate losses. The estimated losses are then reduced by the probable cash flows resulting from available credit enhancements. To properly determine the credit enhancements available to recover estimated losses, the FHLB performs the credit risk analysis of all conventional mortgage loans at the individual Master Commitment Contract level. The Master Commitment Contract is an agreement with a member in which the member agrees to make a best efforts attempt to sell a specific dollar amount of loans to the FHLB, generally over a one-year period. Any credit enhancement cash flows that are projected and assessed as not probable of receipt do not reduce estimated losses. Individually Evaluated Mortgage Loans. Conventional mortgage loans that are considered troubled debt restructurings are specifically identified for purposes of calculating the allowance for credit losses. The FHLB measures impairment of these specifically identified loans by either estimating the present value of expected cash flows, estimating the loan's observable market price, or estimating the fair value of the collateral if the loan is collateral dependent. The FHLB removes specifically identified loans evaluated for impairment from the collectively evaluated mortgage loan population. Qualitative Factors. The FHLB also assesses other qualitative factors in its estimation of loan losses for the collectively evaluated population. This amount represents a subjective management judgment, based on facts and circumstances that exist as of the reporting date, which is intended to cover other incurred losses that may not otherwise be captured in the methodology described above. Allowance for Credit Losses on Mortgage Loans. The following tables present a rollforward of the allowance for credit losses on conventional mortgage loans as well as the recorded investment in mortgage loans by impairment methodology. The recorded investment in a loan is the unpaid principal balance of the loan adjusted for accrued interest, unamortized premiums or discounts, hedging basis adjustments and direct write-downs. The recorded investment is not net of any allowance. Table 9.1 - Rollforward of Allowance for Credit Losses on Conventional Mortgage Loans (in thousands) Three Months Ended September 30, 2019 2018 Balance, beginning of period $ 784 $ 953 Net charge offs (44 ) (26 ) Balance, end of period $ 740 $ 927 Nine Months Ended September 30, 2019 2018 Balance, beginning of period $ 840 $ 1,190 Net charge offs (100 ) (263 ) Balance, end of period $ 740 $ 927 Table 9.2 - Allowance for Credit Losses and Recorded Investment on Conventional Mortgage Loans by Impairment Methodology (in thousands) September 30, 2019 December 31, 2018 Allowance for credit losses: Collectively evaluated for impairment $ 740 $ 840 Individually evaluated for impairment — — Total allowance for credit losses $ 740 $ 840 Recorded investment: Collectively evaluated for impairment $ 10,664,109 $ 10,249,169 Individually evaluated for impairment 12,156 10,554 Total recorded investment $ 10,676,265 $ 10,259,723 Credit Enhancements. The conventional mortgage loans under the MPP are supported by some combination of credit enhancements (primary mortgage insurance (PMI), supplemental mortgage insurance (SMI) and the Lender Risk Account (LRA), including pooled LRA for those members participating in an aggregated MPP pool). The amount of credit enhancements needed to protect the FHLB against credit losses is determined through use of a third-party default model. These credit enhancements apply after a homeowner's equity is exhausted. Beginning in February 2011, the FHLB discontinued the use of SMI for all new loan purchases and replaced it with expanded use of the LRA. The LRA is funded by the FHLB as a portion of the purchase proceeds to cover expected losses. The LRA is recorded in other liabilities in the Statements of Condition. Excess funds over required balances are returned to the member in accordance with a step-down schedule that is established upon execution of a Master Commitment Contract, subject to performance of the related loan pool. The LRA established for a pool of loans is limited to only covering losses of that specific pool of loans. Table 9.3 - Changes in the LRA (in thousands) Nine Months Ended September 30, 2019 LRA at beginning of year $ 213,260 Additions 17,812 Claims (10 ) Scheduled distributions (7,934 ) LRA at end of period $ 223,128 Credit Quality Indicators. Key credit quality indicators for mortgage loans include the migration of past due loans, loans in process of foreclosure, and non-accrual loans. The table below summarizes the FHLB's key credit quality indicators for mortgage loans. Table 9.4 - Recorded Investment in Delinquent Mortgage Loans (dollars in thousands) September 30, 2019 Conventional MPP Loans FHA Loans Total Past due 30-59 days delinquent $ 30,191 $ 13,406 $ 43,597 Past due 60-89 days delinquent 6,044 3,830 9,874 Past due 90 days or more delinquent 10,998 5,390 16,388 Total past due 47,233 22,626 69,859 Total current mortgage loans 10,629,032 221,197 10,850,229 Total mortgage loans $ 10,676,265 $ 243,823 $ 10,920,088 Other delinquency statistics: In process of foreclosure, included above (1) $ 7,561 $ 2,474 $ 10,035 Serious delinquency rate (2) 0.11 % 2.25 % 0.15 % Past due 90 days or more still accruing interest (3) $ 10,508 $ 5,390 $ 15,898 Loans on non-accrual status, included above $ 1,920 $ — $ 1,920 December 31, 2018 Conventional MPP Loans FHA Loans Total Past due 30-59 days delinquent $ 29,596 $ 14,845 $ 44,441 Past due 60-89 days delinquent 7,175 4,238 11,413 Past due 90 days or more delinquent 12,807 7,210 20,017 Total past due 49,578 26,293 75,871 Total current mortgage loans 10,210,145 250,308 10,460,453 Total mortgage loans $ 10,259,723 $ 276,601 $ 10,536,324 Other delinquency statistics: In process of foreclosure, included above (1) $ 7,557 $ 4,635 $ 12,192 Serious delinquency rate (2) 0.13 % 2.65 % 0.19 % Past due 90 days or more still accruing interest (3) $ 11,773 $ 7,210 $ 18,983 Loans on non-accrual status, included above $ 2,535 $ — $ 2,535 (1) Includes loans where the decision of foreclosure or a similar alternative such as pursuit of deed-in-lieu has been reported. Loans in process of foreclosure are included in past due or current loans dependent on their delinquency status. (2) Loans that are 90 days or more past due or in the process of foreclosure (including past due or current loans in the process of foreclosure) expressed as a percentage of the total loan portfolio class recorded investment amount. (3) Each conventional loan past due 90 days or more still accruing interest is on a schedule/scheduled monthly settlement basis and contains one or more credit enhancements. Loans that are well secured and in the process of collection as a result of remaining credit enhancements and schedule/scheduled settlement are not placed on non-accrual status. The FHLB did not have any real estate owned at September 30, 2019 or December 31, 2018 . Troubled Debt Restructurings . A troubled debt restructuring is considered to have occurred when a concession is granted to a borrower for economic or legal reasons related to the borrower's financial difficulties and that concession would not have been considered otherwise. The FHLB's troubled debt restructurings primarily involve loans where an agreement permits the recapitalization of past due amounts up to the original loan amount and certain loans discharged in Chapter 7 bankruptcy. A loan considered a troubled debt restructuring is individually evaluated for impairment when determining its related allowance for credit losses. Credit loss is measured by estimating expected cash shortfalls incurred as of the reporting date. The FHLB's recorded investment in modified loans considered troubled debt restructurings was (in thousands) $12,156 and $10,554 at September 30, 2019 and December 31, 2018 , respectively. The amount of troubled debt restructurings is not considered material to the FHLB's financial condition, results of operations, or cash flows. |
Derivatives and Hedging Activit
Derivatives and Hedging Activities | 9 Months Ended |
Sep. 30, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging Activities [Text Block] | Derivatives and Hedging Activities Nature of Business Activity The FHLB is exposed to interest rate risk primarily from the effect of interest rate changes on its interest-earning assets and on the interest-bearing liabilities that finance these assets. The goal of the FHLB's interest-rate risk management strategy is not to eliminate interest-rate risk, but to manage it within appropriate limits. To mitigate the risk of loss, the FHLB has established policies and procedures, which include guidelines on the amount of exposure to interest rate changes it is willing to accept. In addition, the FHLB monitors the risk to its interest income, net interest margin and average maturity of interest-earning assets and interest-bearing liabilities. The FHLB uses derivatives when they are considered to be the most cost-effective alternative to achieve the FHLB's financial and risk management objectives. See Note 11 - Derivatives and Hedging Activities in the FHLB's 2018 Annual Report on Form 10-K for additional information on the FHLB's derivative transactions. The FHLB transacts its derivatives with large banks and major broker-dealers. Some of these banks and broker-dealers or their affiliates buy, sell, and distribute Consolidated Obligations. Derivative transactions may be executed either with a counterparty (uncleared derivatives) or cleared through a Futures Commission Merchant (i.e., clearing agent) with a Derivative Clearing Organization (cleared derivatives). Once a derivative transaction has been accepted for clearing by a Derivative Clearing Organization (Clearinghouse), the executing counterparty is replaced with the Clearinghouse. The FHLB is not a derivative dealer and does not trade derivatives for short-term profit. Financial Statement Effect and Additional Financial Information The notional amount of derivatives serves as a factor in determining periodic interest payments or cash flows received and paid. The notional amount reflects the FHLB's involvement in the various classes of financial instruments and represents neither the actual amounts exchanged nor the overall exposure of the FHLB to credit and market risk; the overall risk is much smaller. The risks of derivatives only can be measured meaningfully on a portfolio basis that takes into account the counterparties, the types of derivatives, the items being hedged and any offsets between the derivatives and the items being hedged. Table 10.1 summarizes the notional amount and fair value of derivative instruments and total derivative assets and liabilities. Total derivative assets and liabilities include the effect of netting adjustments and cash collateral. For purposes of this disclosure, the derivative values include the fair value of derivatives and the related accrued interest. Table 10.1 - Fair Value of Derivative Instruments (in thousands) September 30, 2019 Notional Amount of Derivatives Derivative Assets Derivative Liabilities Derivatives designated as fair value hedging instruments: Interest rate swaps $ 9,428,000 $ 5,550 $ 85,183 Derivatives not designated as hedging instruments: Interest rate swaps 30,617,599 2,961 1,393 Interest rate swaptions 6,000,000 35,298 — Forward rate agreements 680,000 16 652 Mortgage delivery commitments 738,399 2,256 546 Total derivatives not designated as hedging instruments 38,035,998 40,531 2,591 Total derivatives before adjustments $ 47,463,998 46,081 87,774 Netting adjustments and cash collateral (1) 233,473 (83,698 ) Total derivative assets and total derivative liabilities $ 279,554 $ 4,076 December 31, 2018 Notional Amount of Derivatives Derivative Assets Derivative Liabilities Derivatives designated as fair value hedging instruments: Interest rate swaps $ 6,207,278 $ 2,393 $ 16,810 Derivatives not designated as hedging instruments: Interest rate swaps 4,322,480 3,311 1,904 Interest rate swaptions 3,000,000 15,911 — Forward rate agreements 131,000 — 2,664 Mortgage delivery commitments 146,009 1,726 1 Total derivatives not designated as hedging instruments 7,599,489 20,948 4,569 Total derivatives before adjustments $ 13,806,767 23,341 21,379 Netting adjustments and cash collateral (1) 42,424 (16,793 ) Total derivative assets and total derivative liabilities $ 65,765 $ 4,586 (1) Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions, and also cash collateral and related accrued interest held or placed by the FHLB with the same clearing agent and/or counterparty. Cash collateral posted and related accrued interest was (in thousands) $331,178 and $71,246 at September 30, 2019 and December 31, 2018 . Cash collateral received and related accrued interest was (in thousands) $14,007 and $12,029 at September 30, 2019 and December 31, 2018 . In connection with the adoption of new accounting guidance, changes in fair value of the derivative hedging instrument and the hedged item attributable to the hedged risk for designated fair value hedges are recorded in net interest income in the same line as the earnings effect of the hedged item beginning on January 1, 2019. Prior to January 1, 2019, for designated fair value hedges, any hedge ineffectiveness (which represented the amount by which the change in the fair value of the derivative differed from the change in the fair value of the hedge item) was recorded in non-interest income as net gains (losses) on derivatives and hedging activities. See Note 2 for additional information on the adoption of Targeted Improvements to Accounting for Hedging Activities . Table 10.2 presents the impact of qualifying fair value hedging relationships on the Statements of Income as well as the total interest income (expense) by product. Table 10.2 - Impact of Fair Value Hedging Relationships on the Statements of Income (in thousands) Three Months Ended September 30, 2019 Advances Available-for-sale Securities Consolidated Bonds Total interest income (expense) recorded in the Statements of Income $ 267,537 $ 3,284 $ (260,453 ) Impact of Fair Value Hedging Relationships on the Statements of Income (1) Interest income/expense: Net interest settlements $ 8,115 $ (92 ) $ 550 Gain (loss) on derivatives (61,531 ) (2,957 ) (482 ) Gain (loss) on hedged items 57,287 2,925 565 Effect on net interest income $ 3,871 $ (124 ) $ 633 Three Months Ended September 30, 2018 (2) Advances Available-for-sale securities Consolidated Bonds Impact of Fair Value Hedging Relationships on the Statements of Income (1) Interest income/expense: Net interest settlements (3) $ 7,643 $ (4 ) $ (510 ) Effect on net interest income $ 7,643 $ (4 ) $ (510 ) Non-interest income (loss): Gain (loss) on derivatives $ 8,005 $ 104 $ 301 Gain (loss) on hedged items (8,799 ) (90 ) (213 ) Effect on non-interest income (loss) $ (794 ) $ 14 $ 88 Nine Months Ended September 30, 2019 Advances Available-for-sale Securities Consolidated Bonds Total interest income (expense) recorded in the Statements of Income $ 991,077 $ 21,697 $ (823,376 ) Impact of Fair Value Hedging Relationships on the Statements of Income (1) Interest income/expense: Net interest settlements $ 33,643 $ (136 ) $ 1,102 Gain (loss) on derivatives (227,468 ) (9,460 ) 1,392 Gain (loss) on hedged items 220,699 9,222 (1,434 ) Effect on net interest income $ 26,874 $ (374 ) $ 1,060 Nine Months Ended September 30, 2018 (2) Advances Available-for-sale securities Consolidated Bonds Impact of Fair Value Hedging Relationships on the Statements of Income (1) Interest income/expense: Net interest settlements (3) $ 15,077 $ (4 ) $ (3,360 ) Effect on net interest income $ 15,077 $ (4 ) $ (3,360 ) Non-interest income (loss): Gain (loss) on derivatives $ 58,315 $ 104 $ 1,166 Gain (loss) on hedged items (56,368 ) (90 ) (1,257 ) Effect on non-interest income (loss) $ 1,947 $ 14 $ (91 ) (1) Includes interest rate swaps. (2) Prior period amounts were not conformed to new hedge accounting guidance adopted January 1, 2019. (3) Excludes (amortization)/accretion on closed fair value hedge relationships of (in thousands) $(140) for the three months ended September 30, 2018 and (in thousands) $(463) for the nine months ended September 30, 2018 . Table 10.3 presents the cumulative basis adjustments on hedged items designated as fair value hedges and the related amortized cost of the hedged items. Table 10.3 - Cumulative Basis Adjustments for Fair Value Hedges (in thousands) September 30, 2019 Hedged Item Amortized Cost of Hedged Asset/ Liability (1) Basis Adjustment for Active Hedging Relationships Included in Amortized Cost Basis Adjustments for Discontinued Hedging Relationships Included in Amortized Cost Cumulative Amount of Fair Value Hedging Basis Adjustments Advances $ 9,201,520 $ 176,257 $ 936 $ 177,193 Available-for-sale securities 134,729 10,229 — 10,229 Consolidated Bonds 356,224 1,238 — 1,238 (1) Includes only the portion of amortized cost representing the hedged items in fair value hedging relationships. Table 10.4 presents net gains (losses) related to derivatives and hedging activities recorded in non-interest income (loss). For fair value hedging relationships, the portion of net gains (losses) representing hedge ineffectiveness were recorded in non-interest income for periods prior to January 1, 2019. Table 10.4 - Net Gains (Losses) on Derivatives and Hedging Activities Recorded in Non-interest Income (Loss) (in thousands) Three Months Ended September 30, 2019 2018 Derivatives designated as fair value hedging relationships: Interest rate swaps N/A $ (692 ) Derivatives not designated as hedging instruments: Economic hedges: Interest rate swaps $ (77,671 ) 10,128 Interest rate swaptions 19,315 (745 ) Forward rate agreements (4,584 ) 1,833 Net interest settlements (3,655 ) (16,695 ) Mortgage delivery commitments 4,785 (2,520 ) Total net gains (losses) related to derivatives not designated as hedging instruments (61,810 ) (7,999 ) Price alignment amount (1) 1,556 (113 ) Net gains (losses) on derivatives and hedging activities $ (60,254 ) $ (8,804 ) Nine Months Ended September 30, 2019 2018 Derivatives designated as fair value hedging relationships: Interest rate swaps N/A $ 1,870 Derivatives not designated as hedging instruments: Economic hedges: Interest rate swaps $ (232,074 ) (8,845 ) Interest rate swaptions 3,815 4 Forward rate agreements (11,283 ) 6,317 Net interest settlements (15,041 ) (38,876 ) Mortgage delivery commitments 14,004 (7,105 ) Total net gains (losses) related to derivatives not designated as hedging instruments (240,579 ) (48,505 ) Price alignment amount (1) 2,240 (134 ) Net gains (losses) on derivatives and hedging activities $ (238,339 ) $ (46,769 ) (1) This amount is for derivatives for which variation margin is characterized as a daily settled contract. Credit Risk on Derivatives The FHLB is subject to credit risk due to the risk of non-performance by counterparties to its derivative transactions, and manages credit risk through credit analysis, collateral requirements and adherence to the requirements set forth in its policies, U.S. Commodity Futures Trading Commission regulations, and Finance Agency regulations. For uncleared derivatives, the degree of credit risk depends on the extent to which master netting arrangements are included in these contracts to mitigate the risk. The FHLB requires collateral agreements on its uncleared derivatives with the collateral delivery threshold set to zero. For cleared derivatives, the Clearinghouse is the FHLB's counterparty. The Clearinghouse notifies the clearing agent of the required initial and variation margin and the clearing agent in turn notifies the FHLB. The FHLB utilizes two Clearinghouses for all cleared derivative transactions, LCH Ltd. and CME Clearing. At both Clearinghouses, variation margin is characterized as daily settlement payments, while initial margin is considered to be collateral. The requirement that the FHLB post initial and variation margin through the clearing agent, to the Clearinghouse, exposes the FHLB to credit risk if the clearing agent or the Clearinghouse fails to meet its obligations. The use of cleared derivatives is intended to mitigate credit risk exposure because a central counterparty is substituted for individual counterparties and collateral/payments for changes in the value of cleared derivatives is posted daily through a clearing agent. For cleared derivatives, the Clearinghouse determines initial margin requirements and generally credit ratings are not factored into the initial margin. However, clearing agents may require additional initial margin to be posted based on credit considerations, including, but not limited to, credit rating downgrades. At September 30, 2019 , the FHLB was not required to post additional initial margin by its clearing agents based on credit considerations. Offsetting of Derivative Assets and Derivative Liabilities The FHLB presents derivative instruments, related cash collateral received or pledged, and associated accrued interest, on a net basis by clearing agent and/or by counterparty when it has met the netting requirements. The FHLB has analyzed the enforceability of offsetting rights incorporated in its cleared derivative transactions, and it expects that the exercise of those offsetting rights by a non-defaulting party under these transactions would be upheld under applicable law upon an event of default including bankruptcy, insolvency, or similar proceeding involving the Clearinghouse or the FHLB's clearing agent, or both. Based on this analysis, the FHLB presents a net derivative receivable or payable for all of its transactions through a particular clearing agent with a particular Clearinghouse. Table 10.5 presents separately the fair value of derivative instruments meeting or not meeting netting requirements, including the related collateral received from or pledged to counterparties. At September 30, 2019 and December 31, 2018 , the FHLB did not receive or pledge any non-cash collateral. Any over-collateralization under an individual clearing agent and/or counterparty level is not included in the determination of the net unsecured amount. Table 10.5 - Offsetting of Derivative Assets and Derivative Liabilities (in thousands) September 30, 2019 Derivative Instruments Meeting Netting Requirements Amount Recognized Gross Amount of Netting Adjustments and Cash Collateral Derivative Instruments Not Meeting Netting Requirements (1) Total Derivative Assets and Total Derivative Liabilities Derivative Assets: Uncleared $ 39,174 $ (39,174 ) $ 2,272 $ 2,272 Cleared 4,635 272,647 — 277,282 Total $ 279,554 Derivative Liabilities: Uncleared $ 85,837 $ (82,959 ) $ 1,198 $ 4,076 Cleared 739 (739 ) — — Total $ 4,076 December 31, 2018 Derivative Instruments Meeting Netting Requirements Amount Recognized Gross Amount of Netting Adjustments and Cash Collateral Derivative Instruments Not Meeting Netting Requirements (1) Total Derivative Assets and Total Derivative Liabilities Derivative Assets: Uncleared $ 20,284 $ (20,250 ) $ 1,726 $ 1,760 Cleared 1,331 62,674 — 64,005 Total $ 65,765 Derivative Liabilities: Uncleared $ 13,745 $ (11,824 ) $ 2,665 $ 4,586 Cleared 4,969 (4,969 ) — — Total $ 4,586 (1) Represents mortgage delivery commitments and forward rate agreements that are not subject to an enforceable netting agreement. |
Deposits
Deposits | 9 Months Ended |
Sep. 30, 2019 | |
Deposits [Abstract] | |
Deposit [Text Block] | Deposits Table 11.1 - Deposits (in thousands) September 30, 2019 December 31, 2018 Interest bearing: Demand and overnight $ 791,894 $ 605,979 Term 37,600 51,600 Other 9,074 4,959 Total interest bearing 838,568 662,538 Non-interest bearing: Other 8,452 6,478 Total non-interest bearing 8,452 6,478 Total deposits $ 847,020 $ 669,016 |
Consolidated Obligations
Consolidated Obligations | 9 Months Ended |
Sep. 30, 2019 | |
Debt Disclosure [Abstract] | |
Consolidated Obligations [Text Block] | Consolidated Obligations Table 12.1 - Consolidated Discount Notes Outstanding (dollars in thousands) Book Value Principal Amount Weighted Average Interest Rate (1) September 30, 2019 $ 49,553,251 $ 49,639,893 1.99 % December 31, 2018 $ 46,943,632 $ 47,071,113 2.35 % (1) Represents an implied rate without consideration of concessions. Table 12.2 - Consolidated Bonds Outstanding by Original Contractual Maturity (dollars in thousands) September 30, 2019 December 31, 2018 Year of Original Contractual Maturity Amount Weighted Average Interest Rate Amount Weighted Average Interest Rate Due in 1 year or less $ 22,924,065 1.96 % $ 21,085,800 2.20 % Due after 1 year through 2 years 8,300,500 1.97 6,998,565 2.13 Due after 2 years through 3 years 4,412,015 2.39 6,829,595 2.05 Due after 3 years through 4 years 2,564,465 2.60 2,958,620 2.39 Due after 4 years through 5 years 2,211,795 2.74 3,248,975 2.63 Thereafter 4,109,730 2.96 4,525,635 2.94 Total principal amount 44,522,570 2.17 45,647,190 2.29 Premiums 69,351 75,809 Discounts (25,257 ) (29,275 ) Hedging adjustments 1,238 (196 ) Fair value option valuation adjustment and accrued interest 22,423 (34,390 ) Total $ 44,590,325 $ 45,659,138 Table 12.3 - Consolidated Bonds Outstanding by Call Features (in thousands) September 30, 2019 December 31, 2018 Principal Amount of Consolidated Bonds: Non-callable $ 38,329,570 $ 38,539,190 Callable 6,193,000 7,108,000 Total principal amount $ 44,522,570 $ 45,647,190 Table 12.4 - Consolidated Bonds Outstanding by Original Contractual Maturity or Next Call Date (in thousands) Year of Original Contractual Maturity or Next Call Date September 30, 2019 December 31, 2018 Due in 1 year or less $ 27,905,065 $ 27,173,800 Due after 1 year through 2 years 6,690,500 5,773,565 Due after 2 years through 3 years 3,542,015 5,060,595 Due after 3 years through 4 years 1,979,465 2,470,620 Due after 4 years through 5 years 1,699,795 2,231,975 Thereafter 2,705,730 2,936,635 Total principal amount $ 44,522,570 $ 45,647,190 Table 12.5 - Consolidated Bonds by Interest-rate Payment Type (in thousands) September 30, 2019 December 31, 2018 Principal Amount of Consolidated Bonds: Fixed-rate $ 28,618,570 $ 29,837,190 Variable-rate 15,904,000 15,470,000 Step-up — 340,000 Total principal amount $ 44,522,570 $ 45,647,190 |
Affordable Housing Program (AHP
Affordable Housing Program (AHP) | 9 Months Ended |
Sep. 30, 2019 | |
Affordable Housing Program (AHP) [Abstract] | |
Affordable Housing Program (AHP) [Text Block] | Affordable Housing Program (AHP) The FHLBank Act requires each FHLBank to establish an AHP. Each FHLBank provides subsidies in the form of direct grants and below-market interest rate AHP Advances to members who use the funds to assist in the purchase, construction, or rehabilitation of housing for very low-, low-, and moderate-income households. Each FHLBank is required to contribute to its AHP the greater of 10 percent of its previous year's income subject to assessment, or the prorated sum required to ensure the aggregate contribution by the FHLBanks is no less than $ 100 million for each year. For purposes of the AHP calculation, income subject to assessment is defined as net income before assessments, plus interest expense related to mandatorily redeemable capital stock. The FHLB accrues AHP expense monthly based on its income subject to assessment. The FHLB reduces the AHP liability as members use subsidies. Table 13.1 - Analysis of AHP Liability (in thousands) Balance at December 31, 2018 $ 117,336 Assessments (current year additions) 22,342 Subsidy uses, net (25,390 ) Balance at September 30, 2019 $ 114,288 |
Capital
Capital | 9 Months Ended |
Sep. 30, 2019 | |
Capital [Abstract] | |
Capital [Text Block] | Capital Table 14.1 - Capital Requirements (dollars in thousands) September 30, 2019 December 31, 2018 Minimum Requirement Actual Minimum Requirement Actual Risk-based capital $ 722,256 $ 4,677,807 $ 837,666 $ 5,366,443 Capital-to-assets ratio (regulatory) 4.00 % 4.67 % 4.00 % 5.41 % Regulatory capital $ 4,008,442 $ 4,677,807 $ 3,968,103 $ 5,366,443 Leverage capital-to-assets ratio (regulatory) 5.00 % 7.00 % 5.00 % 8.11 % Leverage capital $ 5,010,552 $ 7,016,711 $ 4,960,129 $ 8,049,665 Restricted Retained Earnings. At September 30, 2019 and December 31, 2018 the FHLB had (in thousands) $430,864 and $ 390,829 in restricted retained earnings. These restricted retained earnings are not available to pay dividends but are available to absorb unexpected losses, if any, that the FHLB may experience. Table 14.2 - Mandatorily Redeemable Capital Stock Rollforward (in thousands) Balance, December 31, 2018 $ 23,184 Capital stock subject to mandatory redemption reclassified from equity 7,671 Repurchase/redemption of mandatorily redeemable capital stock (5,243 ) Balance, September 30, 2019 $ 25,612 Table 14.3 - Mandatorily Redeemable Capital Stock by Contractual Year of Redemption (in thousands) Contractual Year of Redemption September 30, 2019 December 31, 2018 Year 1 $ 351 $ 1,633 Year 2 202 371 Year 3 1,249 357 Year 4 1,531 1,209 Year 5 6,712 3,553 Thereafter (1) 650 624 Past contractual redemption date due to remaining activity (2) 14,917 15,437 Total $ 25,612 $ 23,184 (1) Represents mandatorily redeemable capital stock resulting from a Finance Agency rule effective February 19, 2016, that made captive insurance companies ineligible for FHLB membership. Captive insurance companies that were admitted as FHLB members prior to September 12, 2014, will have their membership terminated no later than February 19, 2021. Captive insurance companies that were admitted as FHLB members on or after September 12, 2014, had their membership terminated no later than February 19, 2017. The related mandatorily redeemable capital stock is not required to be redeemed until five years after the member's termination. (2) Represents mandatorily redeemable capital stock that is past the end of the contractual redemption period because there is activity outstanding to which the mandatorily redeemable capital stock relates. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive (Loss) Income | 9 Months Ended |
Sep. 30, 2019 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive (Loss) Income [Text Block] | Accumulated Other Comprehensive Income (Loss) The following tables summarize the changes in accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2019 and 2018 . Table 15.1 - Accumulated Other Comprehensive Income (Loss) (in thousands) Net unrealized gains (losses) on available-for-sale securities Pension and postretirement benefits Total accumulated other comprehensive income (loss) BALANCE, JUNE 30, 2018 $ 220 $ (15,563 ) $ (15,343 ) Other comprehensive income before reclassification: Net unrealized gains (losses) (101 ) — (101 ) Reclassifications from other comprehensive income (loss) to net income: Amortization - pension and postretirement benefits — 677 677 Net current period other comprehensive income (loss) (101 ) 677 576 BALANCE, SEPTEMBER 30, 2018 $ 119 $ (14,886 ) $ (14,767 ) BALANCE, JUNE 30, 2019 $ (360 ) $ (12,016 ) $ (12,376 ) Other comprehensive income before reclassification: Net unrealized gains (losses) (192 ) — (192 ) Reclassifications from other comprehensive income (loss) to net income: Amortization - pension and postretirement benefits — 459 459 Net current period other comprehensive income (loss) (192 ) 459 267 BALANCE, SEPTEMBER 30, 2019 $ (552 ) $ (11,557 ) $ (12,109 ) Net unrealized gains (losses) on available-for-sale securities Pension and postretirement benefits Total accumulated other comprehensive income (loss) BALANCE, DECEMBER 31, 2017 $ (124 ) $ (16,536 ) $ (16,660 ) Other comprehensive income before reclassification: Net unrealized gains (losses) 243 — 243 Reclassifications from other comprehensive income (loss) to net income: Amortization - pension and postretirement benefits — 1,650 1,650 Net current period other comprehensive income (loss) 243 1,650 1,893 BALANCE, SEPTEMBER 30, 2018 $ 119 $ (14,886 ) $ (14,767 ) BALANCE, DECEMBER 31, 2018 $ (110 ) $ (12,933 ) $ (13,043 ) Other comprehensive income before reclassification: Net unrealized gains (losses) (442 ) — (442 ) Reclassifications from other comprehensive income (loss) to net income: Amortization - pension and postretirement benefits — 1,376 1,376 Net current period other comprehensive income (loss) (442 ) 1,376 934 BALANCE, SEPTEMBER 30, 2019 $ (552 ) $ (11,557 ) $ (12,109 ) |
Pension and Postretirement Bene
Pension and Postretirement Benefit Plans | 9 Months Ended |
Sep. 30, 2019 | |
Retirement Benefits [Abstract] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | Pension and Postretirement Benefit Plans Qualified Defined Benefit Multi-employer Plan. The FHLB participates in the Pentegra Defined Benefit Plan for Financial Institutions (Pentegra Defined Benefit Plan), a tax-qualified defined benefit pension plan. Under the Pentegra Defined Benefit Plan, contributions made by one participating employer may be used to provide benefits to employees of other participating employers because assets contributed by an employer are not segregated in a separate account or restricted to provide benefits only to employees of that employer. Also, in the event a participating employer is unable to meet its contribution requirements, the required contributions for the other participating employers could increase proportionately. The Pentegra Defined Benefit Plan covers all officers and employees of the FHLB who meet certain eligibility requirements. Contributions to the Pentegra Defined Benefit Plan charged to compensation and benefit expense were $1,485,000 and $1,250,000 in the three months ended September 30, 2019 and 2018 , respectively, and $5,422,000 and $6,301,000 in the nine months ended September 30, 2019 and 2018 , respectively. Qualified Defined Contribution Plan. The FHLB also participates in the Pentegra Defined Contribution Plan for Financial Institutions, a tax-qualified, defined contribution plan. The FHLB contributes a percentage of the participants' compensation by making a matching contribution equal to a percentage of voluntary employee contributions, subject to certain IRS limitations. The FHLB contributed $252,000 and $240,000 in the three months ended September 30, 2019 and 2018 , respectively, and $1,058,000 and $1,007,000 in the nine months ended September 30, 2019 and 2018 , respectively. Nonqualified Supplemental Defined Benefit Retirement Plan (Defined Benefit Retirement Plan) . The FHLB maintains a nonqualified, unfunded defined benefit plan. The plan ensures that participants receive the full amount of benefits to which they would have been entitled under the qualified defined benefit plan in the absence of limits on benefit levels imposed by the IRS. There are no funded plan assets. The FHLB has established a grantor trust, which is included in held-to-maturity securities on the Statements of Condition, to meet future benefit obligations and current payments to beneficiaries. Postretirement Benefits Plan . The FHLB also sponsors a Postretirement Benefits Plan that includes health care and life insurance benefits for eligible retirees. Future retirees are eligible for the postretirement benefits plan if they were hired prior to August 1, 1990, are age 55 or older, and their age plus years of continuous service at retirement are greater than or equal to 80. Spouses are covered subject to required contributions. There are no funded plan assets that have been designated to provide postretirement benefits. Table 16.1 - Net Periodic Benefit Cost (in thousands) Three Months Ended September 30, Defined Benefit Retirement Plan Postretirement Benefits Plan 2019 2018 2019 2018 Net Periodic Benefit Cost Service cost $ 225 $ 294 $ 3 $ 6 Interest cost 388 352 46 41 Amortization of net loss 459 677 — — Net periodic benefit cost $ 1,072 $ 1,323 $ 49 $ 47 Nine Months Ended September 30, Defined Benefit Postretirement Benefits Plan 2019 2018 2019 2018 Net Periodic Benefit Cost Service cost $ 676 $ 847 $ 10 $ 15 Interest cost 1,163 1,015 136 124 Amortization of net loss 1,376 1,650 — — Net periodic benefit cost $ 3,215 $ 3,512 $ 146 $ 139 For the Defined Benefit Retirement Plan and the Postretirement Benefits Plan, the related service cost is recorded as part of Non-Interest Expense - Compensation and Benefits on the Statements of Income. The non-service related components of interest cost and amortization of net loss are recorded as Non-Interest Expense - Other in the Statements of Income. |
Segment Information
Segment Information | 9 Months Ended |
Sep. 30, 2019 | |
Segment Reporting [Abstract] | |
Segment Information [Text Block] | Segment Information The FHLB has identified two primary operating segments based on its method of internal reporting: Traditional Member Finance and the MPP. These segments reflect the FHLB's two primary Mission Asset Activities and the manner in which they are managed from the perspective of development, resource allocation, product delivery, pricing, credit risk and operational administration. The segments identify the principal ways the FHLB provides services to member stockholders. Table 17.1 - Financial Performance by Operating Segment (in thousands) Three Months Ended September 30, Traditional Member Finance MPP Total 2019 Net interest income $ 65,146 $ 22,093 $ 87,239 Non-interest income (loss) (8,242 ) 12,536 4,294 Non-interest expense 19,166 2,677 21,843 Income before assessments 37,738 31,952 69,690 Affordable Housing Program assessments 3,800 3,195 6,995 Net income $ 33,938 $ 28,757 $ 62,695 2018 Net interest income $ 102,279 $ 27,881 $ 130,160 Non-interest income (loss) (7,805 ) (1,118 ) (8,923 ) Non-interest expense 16,957 2,451 19,408 Income before assessments 77,517 24,312 101,829 Affordable Housing Program assessments 7,793 2,431 10,224 Net income $ 69,724 $ 21,881 $ 91,605 Nine Months Ended September 30, Traditional Member Finance MPP Total 2019 Net interest income $ 226,254 $ 80,671 $ 306,925 Non-interest income (loss) (22,306 ) 5,542 (16,764 ) Non-interest expense 59,158 8,486 67,644 Income before assessments 144,790 77,727 222,517 Affordable Housing Program assessments 14,569 7,773 22,342 Net income $ 130,221 $ 69,954 $ 200,175 2018 Net interest income $ 299,006 $ 78,405 $ 377,411 Non-interest income (loss) (24,732 ) (857 ) (25,589 ) Non-interest expense 55,202 8,471 63,673 Income before assessments 219,072 69,077 288,149 Affordable Housing Program assessments 22,028 6,908 28,936 Net income $ 197,044 $ 62,169 $ 259,213 Table 17.2 - Asset Balances by Operating Segment (in thousands) Assets Traditional Member MPP Total September 30, 2019 $ 87,706,932 $ 12,504,110 $ 100,211,042 December 31, 2018 86,042,150 13,160,423 99,202,573 |
Fair Value Disclosures
Fair Value Disclosures | 9 Months Ended |
Sep. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | Fair Value Disclosures The fair value amounts recorded on the Statements of Condition and presented in the related note disclosures have been determined by the FHLB using available market information and the FHLB's best judgment of appropriate valuation methods. GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., an exit price). The fair values reflect the FHLB's judgment of how a market participant would estimate the fair values. Fair Value Hierarchy . GAAP establishes a fair value hierarchy and requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The inputs are evaluated and an overall level for the measurement is determined. This overall level is an indication of how market observable the fair value measurement is. An entity must disclose the level within the fair value hierarchy in which the measurements are classified. The fair value hierarchy prioritizes the inputs used to measure fair value into three broad levels: Level 1 Inputs - Quoted prices (unadjusted) for identical assets or liabilities in an active market that the reporting entity can access on the measurement date. Level 2 Inputs - Inputs other than quoted prices within Level 1 that are observable inputs for the asset or liability, either directly or indirectly. If the asset or liability has a specified (contractual) term, a Level 2 input must be observable for substantially the full term of the asset or liability. Level 2 inputs include the following: (1) quoted prices for similar assets or liabilities in active markets; (2) quoted prices for identical or similar assets or liabilities in markets that are not active; (3) inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates and yield curves that are observable at commonly quoted intervals, and implied volatilities); and (4) inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 Inputs - Unobservable inputs for the asset or liability. The FHLB reviews the fair value hierarchy classifications on a quarterly basis. Changes in the observability of the valuation inputs may result in a reclassification of certain financial assets or liabilities. Such reclassifications would be reported as transfers in/out at fair value as of the beginning of the quarter in which the changes occur. The FHLB did not have any transfers of assets or liabilities between fair value levels during the nine months ended September 30, 2019 or 2018 . Table 18.1 presents the carrying value, fair value, and fair value hierarchy of financial assets and liabilities of the FHLB. The FHLB records trading securities, available-for-sale securities, derivative assets, derivative liabilities, certain Advances and certain Consolidated Obligations at fair value on a recurring basis, and on occasion, certain mortgage loans held for portfolio on a nonrecurring basis. The FHLB records all other financial assets and liabilities at amortized cost. Refer to Table 18.2 for further details about the financial assets and liabilities held at fair value on either a recurring or nonrecurring basis. Table 18.1 - Fair Value Summary (in thousands) September 30, 2019 Fair Value Financial Instruments Carrying Value Total Level 1 Level 2 Level 3 Netting Adjustments and Cash Collateral (1) Assets: Cash and due from banks $ 15,417 $ 15,417 $ 15,417 $ — $ — $ — Interest-bearing deposits 599,201 599,201 — 599,201 — — Securities purchased under agreements to resell 1,839,576 1,839,586 — 1,839,586 — — Federal funds sold 14,082,000 14,082,000 — 14,082,000 — — Trading securities 11,416,483 11,416,483 — 11,416,483 — — Available-for-sale securities 434,177 434,177 — 434,177 — — Held-to-maturity securities 14,070,879 14,082,525 — 14,082,525 — — Advances (2) 46,358,204 46,426,913 — 46,426,913 — — Mortgage loans held for portfolio, net 10,883,590 11,082,299 — 11,071,158 11,141 — Accrued interest receivable 204,910 204,910 — 204,910 — — Derivative assets 279,554 279,554 — 46,081 — 233,473 Liabilities: Deposits 847,020 847,109 — 847,109 — — Consolidated Obligations: Discount Notes (3) 49,553,251 49,558,074 — 49,558,074 — — Bonds (4) 44,590,325 45,032,831 — 45,032,831 — — Mandatorily redeemable capital stock 25,612 25,612 25,612 — — — Accrued interest payable 144,699 144,699 — 144,699 — — Derivative liabilities 4,076 4,076 — 87,774 — (83,698 ) Other: Standby bond purchase agreements — 405 — 405 — — (1) Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. (2) Includes (in thousands) $10,267 of Advances recorded under the fair value option at September 30, 2019 . (3) Includes (in thousands) $13,914,315 of Consolidated Obligation Discount Notes recorded under the fair value option at September 30, 2019 . (4) Includes (in thousands) $5,436,423 of Consolidated Obligation Bonds recorded under the fair value option at September 30, 2019 . December 31, 2018 Fair Value Financial Instruments Carrying Value Total Level 1 Level 2 Level 3 Netting Adjustments and Cash Collateral (1) Assets: Cash and due from banks $ 10,037 $ 10,037 $ 10,037 $ — $ — $ — Interest-bearing deposits 122 122 — 122 — — Securities purchased under agreements to resell 4,402,208 4,402,237 — 4,402,237 — — Federal funds sold 10,793,000 10,793,000 — 10,793,000 — — Trading securities 223,980 223,980 — 223,980 — — Available-for-sale securities 2,402,897 2,402,897 — 2,402,897 — — Held-to-maturity securities 15,791,222 15,575,368 — 15,575,368 — — Advances (2) 54,822,252 54,736,645 — 54,736,645 — — Mortgage loans held for portfolio, net 10,500,917 10,329,982 — 10,317,010 12,972 — Accrued interest receivable 169,982 169,982 — 169,982 — — Derivative assets 65,765 65,765 — 23,341 — 42,424 Liabilities: Deposits 669,016 668,947 — 668,947 — — Consolidated Obligations: Discount Notes 46,943,632 46,944,523 — 46,944,523 — — Bonds (3) 45,659,138 45,385,615 — 45,385,615 — — Mandatorily redeemable capital stock 23,184 23,184 23,184 — — — Accrued interest payable 147,337 147,337 — 147,337 — — Derivative liabilities 4,586 4,586 — 21,379 — (16,793 ) Other: Standby bond purchase agreements — 443 — 443 — — (1) Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. (2) Includes (in thousands) $10,008 of Advances recorded under the fair value option at December 31, 2018 . (3) Includes (in thousands) $3,906,610 of Consolidated Obligation Bonds recorded under the fair value option at December 31, 2018 . Summary of Valuation Methodologies and Primary Inputs . The valuation methodologies and primary inputs used to develop the measurement of fair value for assets and liabilities that are measured at fair value on a recurring or nonrecurring basis in the Statement of Condition are disclosed in Note 19 - Fair Value Disclosures in the FHLB's 2018 Annual Report on Form 10-K. There have been no significant changes in the valuation methodologies during 2019 . Fair Value Measurements . Table 18.2 presents the fair value of financial assets and liabilities that are recorded on a recurring or nonrecurring basis at September 30, 2019 and December 31, 2018 , by level within the fair value hierarchy. The FHLB records nonrecurring fair value adjustments to reflect partial write-downs on certain mortgage loans. Table 18.2 - Fair Value Measurements (in thousands) Fair Value Measurements at September 30, 2019 Total Level 1 Level 2 Level 3 Netting Adjustments and Cash Collateral (1) Recurring fair value measurements - Assets Trading securities: U.S. Treasury obligations $ 9,386,559 $ — $ 9,386,559 $ — $ — GSE obligations 2,029,426 — 2,029,426 — — U.S. obligation single-family MBS 498 — 498 — — Total trading securities 11,416,483 — 11,416,483 — — Available-for-sale securities: Certificates of deposit 300,003 — 300,003 — — GSE obligations 134,174 — 134,174 — — Total available-for-sale securities 434,177 — 434,177 — — Advances 10,267 — 10,267 — — Derivative assets: Interest rate related 277,282 — 43,809 — 233,473 Forward rate agreements 16 — 16 — — Mortgage delivery commitments 2,256 — 2,256 — — Total derivative assets 279,554 — 46,081 — 233,473 Total assets at fair value $ 12,140,481 $ — $ 11,907,008 $ — $ 233,473 Recurring fair value measurements - Liabilities Consolidated Obligations: Discount Notes $ 13,914,315 $ — $ 13,914,315 $ — $ — Bonds 5,436,423 — 5,436,423 — — Total Consolidated Obligations 19,350,738 — 19,350,738 — — Derivative liabilities: Interest rate related 2,878 — 86,576 — (83,698 ) Forward rate agreements 652 — 652 — — Mortgage delivery commitments 546 — 546 — — Total derivative liabilities 4,076 — 87,774 — (83,698 ) Total liabilities at fair value $ 19,354,814 $ — $ 19,438,512 $ — $ (83,698 ) (1) Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. Fair Value Measurements at December 31, 2018 Total Level 1 Level 2 Level 3 Netting Adjustments and Cash Collateral (1) Recurring fair value measurements - Assets Trading securities: GSE obligations $ 223,368 $ — $ 223,368 $ — $ — U.S. obligation single-family MBS 612 — 612 — — Total trading securities 223,980 — 223,980 — — Available-for-sale securities: Certificates of deposit 2,350,002 — 2,350,002 — — GSE obligations 52,895 — 52,895 — — Total available-for-sale securities 2,402,897 — 2,402,897 — — Advances 10,008 — 10,008 — — Derivative assets: Interest rate related 64,039 — 21,615 — 42,424 Mortgage delivery commitments 1,726 — 1,726 — — Total derivative assets 65,765 — 23,341 — 42,424 Total assets at fair value $ 2,702,650 $ — $ 2,660,226 $ — $ 42,424 Recurring fair value measurements - Liabilities Consolidated Obligation Bonds $ 3,906,610 $ — $ 3,906,610 $ — $ — Derivative liabilities: Interest rate related 1,921 — 18,714 — (16,793 ) Forward rate agreements 2,664 — 2,664 — — Mortgage delivery commitments 1 — 1 — — Total derivative liabilities 4,586 — 21,379 — (16,793 ) Total liabilities at fair value $ 3,911,196 $ — $ 3,927,989 $ — $ (16,793 ) Nonrecurring fair value measurements - Assets (2) Mortgage loans held for portfolio $ 311 $ — $ — $ 311 (1) Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. (2) The fair value information presented is as of the date the fair value adjustment was recorded during the year ended December 31, 2018 . Fair Value Option . The fair value option provides an irrevocable option to elect fair value as an alternative measurement for selected financial assets, financial liabilities, unrecognized firm commitments, and written loan commitments not previously carried at fair value. It requires a company to display the fair value of those assets and liabilities for which it has chosen to use fair value on the face of the Statements of Condition. Fair value is used for both the initial and subsequent measurement of the designated assets, liabilities and commitments, with the changes in fair value recognized in net income. If elected, interest income and interest expense on Advances and Consolidated Obligations carried at fair value are recognized based solely on the contractual amount of interest due or unpaid. Any transaction fees or costs are immediately recognized into other non-interest income or other non-interest expense. The FHLB has elected the fair value option for certain financial instruments that either do not qualify for hedge accounting or may be at risk for not meeting hedge effectiveness requirements. These fair value elections were made primarily in an effort to mitigate the potential income statement volatility that can arise from economic hedging relationships in which the carrying value of the hedged item is not adjusted for changes in fair value. Table 18.3 presents net gains (losses) recognized in earnings related to financial assets and liabilities in which the fair value option was elected during the three and nine months ended September 30, 2019 and 2018 . Table 18.3 – Fair Value Option - Financial Assets and Liabilities (in thousands) Three Months Ended September 30, Nine Months Ended September 30, Net Gains (Losses) from Changes in Fair Value Recognized in Earnings 2019 2018 2019 2018 Advances $ 53 $ (46 ) $ 259 $ (76 ) Consolidated Discount Notes (2,449 ) — (2,449 ) — Consolidated Bonds (6,285 ) (3,561 ) (48,425 ) 12,300 Total net gains (losses) $ (8,681 ) $ (3,607 ) $ (50,615 ) $ 12,224 For instruments recorded under the fair value option, the related contractual interest income and contractual interest expense are recorded as part of net interest income on the Statements of Income. The remaining changes in fair value for instruments in which the fair value option has been elected are recorded as “Net gains (losses) on financial instruments held under fair value option” in the Statements of Income, except for changes in fair value related to instrument specific credit risk, which are recorded in accumulated other comprehensive income in the Statement of Condition. The FHLB has determined that none of the remaining changes in fair value were related to instrument-specific credit risk for the nine months ended September 30, 2019 or 2018 . In determining that there has been no change in instrument-specific credit risk period to period, the FHLB primarily considered the following factors: ▪ The FHLB is a federally chartered GSE, and as a result of this status, the FHLB’s Consolidated Obligations have historically received the same credit ratings as the government bond credit rating of the United States, even though they are not Obligations of the United States and are not guaranteed by the United States. ▪ The FHLB is jointly and severally liable with the other 10 FHLBanks for the payment of principal and interest on all Consolidated Obligations of each of the other FHLBanks. The following table reflects the difference between the aggregate unpaid principal balance outstanding and the aggregate fair value for Advances and Consolidated Obligations for which the fair value option has been elected. Table 18.4 – Aggregate Unpaid Balance and Aggregate Fair Value (in thousands) September 30, 2019 December 31, 2018 Aggregate Unpaid Principal Balance Aggregate Fair Value Aggregate Fair Value Over/(Under) Aggregate Unpaid Principal Balance Aggregate Unpaid Principal Balance Aggregate Fair Value Aggregate Fair Value Over/(Under) Aggregate Unpaid Principal Balance Advances (1) $ 10,000 $ 10,267 $ 267 $ 10,000 $ 10,008 $ 8 Consolidated Discount Notes 13,936,995 13,914,315 (22,680 ) — — — Consolidated Bonds 5,414,000 5,436,423 22,423 3,941,000 3,906,610 (34,390 ) (1) At September 30, 2019 and December 31, 2018 , none of the Advances were 90 days or more past due or had been placed on non-accrual status. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies [Text Block] | Commitments and Contingencies Table 19.1 - Off-Balance Sheet Commitments (in thousands) September 30, 2019 December 31, 2018 Notional Amount Expire within one year Expire after one year Total Expire within one year Expire after one year Total Standby Letters of Credit $ 15,039,194 $ 1,051,164 $ 16,090,358 $ 14,578,925 $ 268,395 $ 14,847,320 Commitments for standby bond purchases 20,360 55,150 75,510 23,215 54,820 78,035 Commitments to purchase mortgage loans 738,399 — 738,399 146,009 — 146,009 Unsettled Consolidated Bonds, principal amount (1) — — — 92,000 — 92,000 Unsettled Consolidated Discount Notes, principal amount (1) 20,000 — 20,000 525,000 — 525,000 (1) Expiration is based on settlement period rather than underlying contractual maturity of Consolidated Obligations. Legal Proceedings . From time to time, the FHLB is subject to legal proceedings arising in the normal course of business. The FHLB would record an accrual for a loss contingency when it is probable that a loss has been incurred and the amount could be reasonably estimated. After consultation with legal counsel, management does not anticipate that ultimate liability, if any, arising out of any matters will have a material effect on the FHLB's financial condition or results of operations. |
Transactions with Other FHLBank
Transactions with Other FHLBanks | 9 Months Ended |
Sep. 30, 2019 | |
Transactions with Other FHLBanks [Abstract] | |
Transactions with Other FHLBanks [Text Block] | Transactions with Other FHLBanks The FHLB notes all transactions with other FHLBanks on the face of its financial statements. Occasionally, the FHLB loans short-term funds to and borrows short-term funds from other FHLBanks. These loans and borrowings are transacted at then current market rates when traded. There were no such loans or borrowings outstanding at September 30, 2019 or December 31, 2018 . The following table details the average daily balance of lending and borrowing between the FHLB and other FHLBanks for the nine months ended September 30 , 2019 and 2018. Table 20.1 - Lending and Borrowing Between the FHLB and Other FHLBanks (in thousands) Average Daily Balances for the Nine Months Ended September 30, 2019 2018 Loans to other FHLBanks $ 3,846 $ 1,832 Borrowings from other FHLBanks 183 366 In addition, the FHLB may, from time to time, assume the outstanding primary liability for Consolidated Obligations of another FHLBank (at then current market rates on the day when the transfer is traded) rather than issuing new debt for which the FHLB is the primary obligor. The FHLB then becomes the primary obligor on the transferred debt. There were no Consolidated Obligations transferred to the FHLB during the nine months ended September 30, 2019 or 2018 . The FHLB had no |
Transactions with Stockholders
Transactions with Stockholders | 9 Months Ended |
Sep. 30, 2019 | |
Transactions with Stockholders [Abstract] | |
Transactions with Stockholders [Text Block] | Transactions with Stockholders As a cooperative, the FHLB's capital stock is owned by its members, by former members that retain the stock as provided in the FHLB's Capital Plan and by nonmember institutions that have acquired members and must retain the stock to support Advances or other activities with the FHLB. All Advances are issued to members and all mortgage loans held for portfolio are purchased from members. The FHLB also maintains demand deposit accounts for members, primarily to facilitate settlement activities that are directly related to Advances and mortgage loan purchases. Additionally, the FHLB may enter into interest rate swaps with its stockholders. The FHLB may not invest in any equity securities issued by its stockholders and it has not purchased any MBS securitized by, or other direct long-term investments in, its stockholders. For financial statement purposes, the FHLB defines related parties as those members with more than 10 percent of the voting interests of the FHLB capital stock outstanding. Federal statute prescribes the voting rights of members in the election of both Member and Independent directors. For Member directorships, the Finance Agency designates the number of Member directorships in a given year and an eligible voting member may vote only for candidates seeking election in its respective state. For Independent directors, the FHLB's Board of Directors nominates candidates to be placed on the ballot in an at-large election. For both Member and Independent director elections, a member is entitled to vote one share of required capital stock, subject to a statutory limitation, for each applicable directorship. Under this limitation, the total number of votes that a member may cast is limited to the average number of shares of the FHLB's capital stock that were required to be held by all members in that state as of the record date for voting. Nonmember stockholders are not eligible to vote in director elections. Due to these statutory limitations, no member owned more than 10 percent of the voting interests of the FHLB at September 30, 2019 or December 31, 2018 . All transactions with stockholders are entered into in the ordinary course of business. Finance Agency regulations require the FHLB to offer the same pricing for Advances and other services to all members regardless of asset or transaction size, charter type, or geographic location. However, the FHLB may, in pricing its Advances, distinguish among members based upon its assessment of the credit and other risks to the FHLB of lending to any particular member or upon other reasonable criteria that may be applied equally to all members. The FHLB's policies and procedures require that such standards and criteria be applied consistently and without discrimination to all members applying for Advances. Transactions with Directors' Financial Institutions. In the ordinary course of its business, the FHLB provides products and services to members whose officers or directors serve as directors of the FHLB (Directors' Financial Institutions). Finance Agency regulations require that transactions with Directors' Financial Institutions be made on the same terms as those with any other member. The following table reflects balances with Directors' Financial Institutions for the items indicated below. The FHLB had no MBS or derivatives transactions with Directors' Financial Institutions at September 30, 2019 or December 31, 2018 . Table 21.1 - Transactions with Directors' Financial Institutions (dollars in millions) September 30, 2019 December 31, 2018 Balance % of Total (1) Balance % of Total (1) Advances $ 3,214 7.0 % $ 3,424 6.2 % MPP 121 1.1 585 5.7 Regulatory capital stock 178 4.9 419 9.6 (1) Percentage of total principal (Advances), unpaid principal balance (MPP), and regulatory capital stock. Concentrations. The following table shows regulatory capital stock balances, outstanding Advance principal balances, and unpaid principal balances of mortgage loans held for portfolio of stockholders holding five percent or more of regulatory capital stock and includes any known affiliates that are members of the FHLB. Table 21.2 - Stockholders Holding Five Percent or more of Regulatory Capital Stock (dollars in millions) Regulatory Capital Stock Advance MPP Unpaid September 30, 2019 Balance % of Total Principal Principal Balance JPMorgan Chase Bank, N.A. $ 852 24 % $ 8,050 $ — U.S. Bank, N.A. 497 14 4,974 17 Regulatory Capital Stock Advance MPP Unpaid December 31, 2018 Balance % of Total Principal Principal Balance JPMorgan Chase Bank, N.A. $ 1,085 25 % $ 23,400 $ — U.S. Bank, N.A. 796 18 4,574 19 The Huntington National Bank 248 6 6 486 Nonmember Affiliates. The FHLB has relationships with three nonmember affiliates, the Kentucky Housing Corporation, the Ohio Housing Finance Agency and the Tennessee Housing Development Agency. The FHLB had no investments in or borrowings to any of these nonmember affiliates at September 30, 2019 or December 31, 2018 . The FHLB has executed standby bond purchase agreements with one state housing authority whereby the FHLB, for a fee, agrees as a liquidity provider if required, to purchase and hold the authority's bonds until the designated marketing agent can find a suitable investor or the housing authority repurchases the bond according to a schedule established by the standby agreement. During the first nine months of 2019 and 2018 , the FHLB was not required to purchase any bonds under these agreements. |
Recently Issued Accounting St_2
Recently Issued Accounting Standards and Interpretations (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Finance, Loan and Lease Receivables, Held-for-investment, Allowance and Nonperforming Loans, Nonperforming Loans Policy [Policy Text Block] | Mortgage Loans Held for Portfolio - FHA The FHLB invests in fixed-rate mortgage loans secured by one-to-four family residential properties insured by the FHA. The FHLB expects to recover any losses from such loans from the FHA. Any losses from these loans that are not recovered from the FHA would be due to a claim rejection by the FHA and, as such, would be recoverable from the selling participating financial institutions. Therefore, the FHLB only has credit risk for these loans if the seller or servicer fails to pay for losses not covered by the FHA insurance. As a result, the FHLB did not establish an allowance for credit losses on its FHA insured mortgage loans. Furthermore, due to the insurance, none of these mortgage loans have been placed on non-accrual status. Mortgage Loans Held for Portfolio - Conventional Mortgage Purchase Program (MPP) The FHLB determines the allowance for conventional loans through analyses that include consideration of various data observations such as past performance, current performance, loan portfolio characteristics, collateral-related characteristics, industry data, and prevailing economic conditions. The measurement of the allowance for credit losses consists of: (1) collectively evaluating homogeneous pools of residential mortgage loans; (2) reviewing specifically identified loans for impairment; and (3) considering other relevant qualitative factors. Collectively Evaluated Mortgage Loans. The credit risk analysis of conventional loans evaluated collectively for impairment considers historical delinquency migration, applies estimated loss severities, and incorporates the associated credit enhancements in order to determine the FHLB's best estimate of probable incurred losses at the reporting date. Migration analysis is a methodology for determining, through the FHLB's experience over a historical period, the rate of default on loans. The FHLB applies migration analysis to loans based on payment status categories such as current, 30, 60, and 90 days past due. The FHLB then estimates how many loans in these categories may migrate to a loss realization event and applies a current loss severity to estimate losses. The estimated losses are then reduced by the probable cash flows resulting from available credit enhancements. To properly determine the credit enhancements available to recover estimated losses, the FHLB performs the credit risk analysis of all conventional mortgage loans at the individual Master Commitment Contract level. The Master Commitment Contract is an agreement with a member in which the member agrees to make a best efforts attempt to sell a specific dollar amount of loans to the FHLB, generally over a one-year period. Any credit enhancement cash flows that are projected and assessed as not probable of receipt do not reduce estimated losses. Individually Evaluated Mortgage Loans. Conventional mortgage loans that are considered troubled debt restructurings are specifically identified for purposes of calculating the allowance for credit losses. The FHLB measures impairment of these specifically identified loans by either estimating the present value of expected cash flows, estimating the loan's observable market price, or estimating the fair value of the collateral if the loan is collateral dependent. The FHLB removes specifically identified loans evaluated for impairment from the collectively evaluated mortgage loan population. Qualitative Factors. The FHLB also assesses other qualitative factors in its estimation of loan losses for the collectively evaluated population. This amount represents a subjective management judgment, based on facts and circumstances that exist as of the reporting date, which is intended to cover other incurred losses that may not otherwise be captured in the methodology described above. |
Loans and Leases Receivable, Troubled Debt Restructuring Policy [Policy Text Block] | A loan considered a troubled debt restructuring is individually evaluated for impairment when determining its related allowance for credit losses. Credit loss is measured by estimating expected cash shortfalls incurred as of the reporting date. |
Segment Reporting, Policy [Policy Text Block] | The FHLB has identified two primary operating segments based on its method of internal reporting: Traditional Member Finance and the MPP. These segments reflect the FHLB's two primary Mission Asset Activities and the manner in which they are managed from the perspective of development, resource allocation, product delivery, pricing, credit risk and operational administration. The segments identify the principal ways the FHLB provides services to member stockholders. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | The fair value amounts recorded on the Statements of Condition and presented in the related note disclosures have been determined by the FHLB using available market information and the FHLB's best judgment of appropriate valuation methods. GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., an exit price). The fair values reflect the FHLB's judgment of how a market participant would estimate the fair values. |
Fair Value Transfer, Policy [Policy Text Block] | The FHLB reviews the fair value hierarchy classifications on a quarterly basis. Changes in the observability of the valuation inputs may result in a reclassification of certain financial assets or liabilities. Such reclassifications would be reported as transfers in/out at fair value as of the beginning of the quarter in which the changes occur. |
Trading Securities (Tables)
Trading Securities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Debt Securities, Trading, and Equity Securities, FV-NI [Abstract] | |
Trading Securities (and Certain Trading Assets) [Table Text Block] | Trading Securities by Major Security Types (in thousands) Fair Value September 30, 2019 December 31, 2018 Non-mortgage-backed securities (non-MBS): U.S. Treasury obligations $ 9,386,559 $ — GSE obligations 2,029,426 223,368 Total non-MBS 11,415,985 223,368 Mortgage-backed securities (MBS): U.S. obligation single-family MBS 498 612 Total $ 11,416,483 $ 223,980 |
Gain (Loss) on Securities [Table Text Block] | Net Gains (Losses) on Trading Securities (in thousands) Nine Months Ended September 30, 2019 2018 Net gains (losses) on trading securities held at period end $ 263,733 $ 800 Net gains (losses) on trading securities $ 263,733 $ 800 |
Available-for-Sale Securities (
Available-for-Sale Securities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Debt Securities, Available-for-sale [Abstract] | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | Available-for-Sale Securities by Major Security Types (in thousands) September 30, 2019 Amortized Cost (1) Gross Unrealized Gains Gross Unrealized Losses Fair Value Certificates of deposit $ 300,000 $ 3 $ — $ 300,003 GSE obligations 134,729 200 (755 ) 134,174 Total $ 434,729 $ 203 $ (755 ) $ 434,177 December 31, 2018 Amortized Cost (1) Gross Unrealized Gains Gross Unrealized Losses Fair Value Certificates of deposit $ 2,350,000 $ 71 $ (69 ) $ 2,350,002 GSE obligations 53,007 16 (128 ) 52,895 Total $ 2,403,007 $ 87 $ (197 ) $ 2,402,897 (1) Amortized cost of available-for-sale securities includes adjustments made to the cost basis of an investment for accretion, amortization, and/or fair value hedge accounting adjustments. |
Investments Classified by Contractual Maturity Date [Table Text Block] | Available-for-Sale Securities by Contractual Maturity (in thousands) September 30, 2019 December 31, 2018 Year of Maturity Amortized Cost Fair Value Amortized Cost Fair Value Due in 1 year or less $ 300,000 $ 300,003 $ 2,350,000 $ 2,350,002 Due after 1 year through 5 years — — — — Due after 5 years through 10 years 122,166 121,648 48,999 48,904 Due after 10 years 12,563 12,526 4,008 3,991 Total $ 434,729 $ 434,177 $ 2,403,007 $ 2,402,897 September 30, 2019 December 31, 2018 Year of Maturity Amortized Cost (1) Fair Value Amortized Cost (1) Fair Value Non-MBS: Due in 1 year or less $ 34,991 $ 35,014 $ 35,667 $ 35,661 Due after 1 year through 5 years — — — — Due after 5 years through 10 years — — — — Due after 10 years — — — — Total non-MBS 34,991 35,014 35,667 35,661 MBS (2) 14,035,888 14,047,511 15,755,555 15,539,707 Total $ 14,070,879 $ 14,082,525 $ 15,791,222 $ 15,575,368 (1) Carrying value equals amortized cost. (2) MBS are not presented by contractual maturity because their expected maturities will likely differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees. |
Schedule of Interest Rate Payment Terms For Investments [Table Text Block] | Interest Rate Payment Terms of Available-for-Sale Securities (in thousands) September 30, 2019 December 31, 2018 Amortized cost of available-for-sale securities: Fixed-rate $ 434,729 $ 2,403,007 September 30, 2019 December 31, 2018 Amortized cost of non-MBS: Fixed-rate $ 34,991 $ 35,667 Total amortized cost of non-MBS 34,991 35,667 Amortized cost of MBS: Fixed-rate 5,770,756 6,652,055 Variable-rate 8,265,132 9,103,500 Total amortized cost of MBS 14,035,888 15,755,555 Total $ 14,070,879 $ 15,791,222 |
Held-to-Maturity Securities (Ta
Held-to-Maturity Securities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Debt Securities, Held-to-maturity [Abstract] | |
Debt Securities, Held-to-maturity [Table Text Block] | Held-to-Maturity Securities by Major Security Types (in thousands) September 30, 2019 Amortized Cost (1) Gross Unrecognized Holding Gains Gross Unrecognized Holding Losses Fair Value Non-MBS: U.S. Treasury obligations $ 34,991 $ 23 $ — $ 35,014 Total non-MBS 34,991 23 — 35,014 MBS: U.S. obligation single-family MBS 1,767,788 15,786 (26 ) 1,783,548 GSE single-family MBS 4,790,602 43,214 (24,923 ) 4,808,893 GSE multi-family MBS 7,477,498 87 (22,515 ) 7,455,070 Total MBS 14,035,888 59,087 (47,464 ) 14,047,511 Total $ 14,070,879 $ 59,110 $ (47,464 ) $ 14,082,525 December 31, 2018 Amortized Cost (1) Gross Unrecognized Holding Gains Gross Unrecognized Holding Losses Fair Value Non-MBS: U.S. Treasury obligations $ 35,667 $ — $ (6 ) $ 35,661 Total non-MBS 35,667 — (6 ) 35,661 MBS: U.S. obligation single-family MBS 2,040,642 540 (47,463 ) 1,993,719 GSE single-family MBS 5,543,524 9,891 (162,097 ) 5,391,318 GSE multi-family MBS 8,171,389 1,739 (18,458 ) 8,154,670 Total MBS 15,755,555 12,170 (228,018 ) 15,539,707 Total $ 15,791,222 $ 12,170 $ (228,024 ) $ 15,575,368 (1) Carrying value equals amortized cost. |
Premiums (Discounts) Included in Amortized Cost of Securities [Table Text Block] | Net Purchased Premiums Included in the Amortized Cost of MBS Classified as Held-to-Maturity (in thousands) September 30, 2019 December 31, 2018 Premiums $ 32,794 $ 42,299 Discounts (14,397 ) (19,730 ) Net purchased premiums $ 18,397 $ 22,569 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Held-to-Maturity Securities in a Continuous Unrealized Loss Position (in thousands) September 30, 2019 Less than 12 Months 12 Months or more Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses MBS: U.S. obligation single-family MBS $ 40,500 $ (26 ) $ — $ — $ 40,500 $ (26 ) GSE single-family MBS 426,932 (1,788 ) 2,182,778 (23,135 ) 2,609,710 (24,923 ) GSE multi-family MBS 4,395,597 (10,474 ) 2,725,621 (12,041 ) 7,121,218 (22,515 ) Total $ 4,863,029 $ (12,288 ) $ 4,908,399 $ (35,176 ) $ 9,771,428 $ (47,464 ) December 31, 2018 Less than 12 Months 12 Months or more Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Non-MBS: U.S. Treasury obligations $ 35,661 $ (6 ) $ — $ — $ 35,661 $ (6 ) Total non-MBS 35,661 (6 ) — — 35,661 (6 ) MBS: U.S. obligation single-family MBS 175,663 (1,571 ) 1,526,835 (45,892 ) 1,702,498 (47,463 ) GSE single-family MBS 401,509 (1,581 ) 3,859,608 (160,516 ) 4,261,117 (162,097 ) GSE multi-family MBS 5,976,323 (18,185 ) 229,739 (273 ) 6,206,062 (18,458 ) Total MBS 6,553,495 (21,337 ) 5,616,182 (206,681 ) 12,169,677 (228,018 ) Total $ 6,589,156 $ (21,343 ) $ 5,616,182 $ (206,681 ) $ 12,205,338 $ (228,024 ) |
Investments Classified by Contractual Maturity Date [Table Text Block] | Available-for-Sale Securities by Contractual Maturity (in thousands) September 30, 2019 December 31, 2018 Year of Maturity Amortized Cost Fair Value Amortized Cost Fair Value Due in 1 year or less $ 300,000 $ 300,003 $ 2,350,000 $ 2,350,002 Due after 1 year through 5 years — — — — Due after 5 years through 10 years 122,166 121,648 48,999 48,904 Due after 10 years 12,563 12,526 4,008 3,991 Total $ 434,729 $ 434,177 $ 2,403,007 $ 2,402,897 September 30, 2019 December 31, 2018 Year of Maturity Amortized Cost (1) Fair Value Amortized Cost (1) Fair Value Non-MBS: Due in 1 year or less $ 34,991 $ 35,014 $ 35,667 $ 35,661 Due after 1 year through 5 years — — — — Due after 5 years through 10 years — — — — Due after 10 years — — — — Total non-MBS 34,991 35,014 35,667 35,661 MBS (2) 14,035,888 14,047,511 15,755,555 15,539,707 Total $ 14,070,879 $ 14,082,525 $ 15,791,222 $ 15,575,368 (1) Carrying value equals amortized cost. (2) MBS are not presented by contractual maturity because their expected maturities will likely differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees. |
Schedule of Interest Rate Payment Terms For Investments [Table Text Block] | Interest Rate Payment Terms of Available-for-Sale Securities (in thousands) September 30, 2019 December 31, 2018 Amortized cost of available-for-sale securities: Fixed-rate $ 434,729 $ 2,403,007 September 30, 2019 December 31, 2018 Amortized cost of non-MBS: Fixed-rate $ 34,991 $ 35,667 Total amortized cost of non-MBS 34,991 35,667 Amortized cost of MBS: Fixed-rate 5,770,756 6,652,055 Variable-rate 8,265,132 9,103,500 Total amortized cost of MBS 14,035,888 15,755,555 Total $ 14,070,879 $ 15,791,222 |
Advances Advances (Tables)
Advances Advances (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Advances [Abstract] | |
Schedule Of Federal Home Loan Bank Advances By Year Of Contractual Maturity [Table Text Block] | Advances by Redemption Term or Next Call Date (in thousands) Redemption Term or Next Call Date September 30, 2019 December 31, 2018 Due in 1 year or less $ 34,181,189 $ 43,793,555 Due after 1 year through 2 years 5,221,817 4,338,117 Due after 2 years through 3 years 1,683,289 3,490,580 Due after 3 years through 4 years 1,195,707 753,716 Due after 4 years through 5 years 1,517,394 905,189 Thereafter 2,386,305 1,591,015 Total principal amount $ 46,185,701 $ 54,872,172 September 30, 2019 December 31, 2018 Total fixed-rate (1) $ 31,152,304 $ 23,988,298 Total variable-rate (1) 15,033,397 30,883,874 Total principal amount $ 46,185,701 $ 54,872,172 (1) Payment terms based on current interest rate terms, which reflect any option exercises or rate conversions that have occurred subsequent to the related Advance issuance. Redemption Term or Next Put Date September 30, 2019 December 31, 2018 Due in 1 year or less $ 31,935,835 $ 38,827,494 Due after 1 year through 2 years 5,223,567 6,611,276 Due after 2 years through 3 years 2,076,191 3,221,830 Due after 3 years through 4 years 1,259,705 1,145,118 Due after 4 years through 5 years 1,492,098 835,439 Thereafter 4,198,305 4,231,015 Total principal amount $ 46,185,701 $ 54,872,172 September 30, 2019 December 31, 2018 Principal % of Total Principal Amount of Advances Principal % of Total Principal Amount of Advances JPMorgan Chase Bank, N.A. $ 8,050 17 % JPMorgan Chase Bank, N.A. $ 23,400 43 % U.S. Bank, N.A. 4,974 11 U.S. Bank, N.A. 4,574 8 Third Federal Savings and Loan Association 3,896 8 Third Federal Savings and Loan Association 3,727 7 Fifth Third Bank 2,856 6 Total $ 31,701 58 % Total $ 19,776 42 % September 30, 2019 December 31, 2018 Redemption Term Amount Weighted Average Interest Rate Amount Weighted Average Interest Rate Due in 1 year or less $ 30,921,585 2.16 % $ 38,592,494 2.56 % Due after 1 year through 2 years 4,848,567 2.26 6,461,276 2.39 Due after 2 years through 3 years 1,953,191 2.38 3,146,830 2.30 Due after 3 years through 4 years 1,329,705 2.49 1,145,118 2.56 Due after 4 years through 5 years 1,746,348 2.25 935,439 2.76 Thereafter 5,386,305 2.50 4,591,015 2.98 Total principal amount 46,185,701 2.23 54,872,172 2.56 Commitment fees (329 ) (456 ) Discount on Affordable Housing Program (AHP) Advances (3,451 ) (4,386 ) Premiums 1,294 1,510 Discounts (2,471 ) (3,090 ) Hedging adjustments 177,193 (43,506 ) Fair value option valuation adjustments and accrued interest 267 8 Total $ 46,358,204 $ 54,822,252 |
Mortgage Loans Held for Portf_2
Mortgage Loans Held for Portfolio (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Receivables [Abstract] | |
Mortgage Loans Held for Portfolio [Table Text Block] | Mortgage Loans Held for Portfolio by Collateral/Guarantee Type (in thousands) September 30, 2019 December 31, 2018 Unpaid principal balance: Conventional mortgage loans $ 10,396,652 $ 9,999,307 Federal Housing Administration (FHA) mortgage loans 240,586 272,847 Total unpaid principal balance $ 10,637,238 $ 10,272,154 September 30, 2019 December 31, 2018 Unpaid principal balance: Fixed rate medium-term single-family mortgage loans (1) $ 805,059 $ 933,340 Fixed rate long-term single-family mortgage loans 9,832,179 9,338,814 Total unpaid principal balance 10,637,238 10,272,154 Premiums 232,145 227,161 Discounts (2,272 ) (2,603 ) Hedging basis adjustments (2) 17,219 5,045 Total mortgage loans held for portfolio $ 10,884,330 $ 10,501,757 (1) Medium-term is defined as a term of 15 years or less. (2) Represents the unamortized balance of the mortgage purchase commitments' market values at the time of settlement. The market value of the commitment is included in the basis of the mortgage loan and amortized accordingly. |
Members Selling Five Percent or more of Total Unpaid Principal [Table Text Block] | Members, Including Any Known Affiliates that are Members of the FHLB, and Former Members Selling Five Percent or more of Total Unpaid Principal (dollars in millions) September 30, 2019 December 31, 2018 Principal % of Total Principal % of Total Union Savings Bank $ 3,590 34 % Union Savings Bank $ 3,449 34 % Guardian Savings Bank FSB 991 9 Guardian Savings Bank FSB 987 10 FirstBank 593 6 |
Allowance for Credit Losses (Ta
Allowance for Credit Losses (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Receivables [Abstract] | |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Allowance for Credit Losses and Recorded Investment on Conventional Mortgage Loans by Impairment Methodology (in thousands) September 30, 2019 December 31, 2018 Allowance for credit losses: Collectively evaluated for impairment $ 740 $ 840 Individually evaluated for impairment — — Total allowance for credit losses $ 740 $ 840 Recorded investment: Collectively evaluated for impairment $ 10,664,109 $ 10,249,169 Individually evaluated for impairment 12,156 10,554 Total recorded investment $ 10,676,265 $ 10,259,723 Three Months Ended September 30, 2019 2018 Balance, beginning of period $ 784 $ 953 Net charge offs (44 ) (26 ) Balance, end of period $ 740 $ 927 Nine Months Ended September 30, 2019 2018 Balance, beginning of period $ 840 $ 1,190 Net charge offs (100 ) (263 ) Balance, end of period $ 740 $ 927 |
Changes in LRA [Table Text Block] | Changes in the LRA (in thousands) Nine Months Ended September 30, 2019 LRA at beginning of year $ 213,260 Additions 17,812 Claims (10 ) Scheduled distributions (7,934 ) LRA at end of period $ 223,128 |
Past Due Financing Receivables [Table Text Block] | Recorded Investment in Delinquent Mortgage Loans (dollars in thousands) September 30, 2019 Conventional MPP Loans FHA Loans Total Past due 30-59 days delinquent $ 30,191 $ 13,406 $ 43,597 Past due 60-89 days delinquent 6,044 3,830 9,874 Past due 90 days or more delinquent 10,998 5,390 16,388 Total past due 47,233 22,626 69,859 Total current mortgage loans 10,629,032 221,197 10,850,229 Total mortgage loans $ 10,676,265 $ 243,823 $ 10,920,088 Other delinquency statistics: In process of foreclosure, included above (1) $ 7,561 $ 2,474 $ 10,035 Serious delinquency rate (2) 0.11 % 2.25 % 0.15 % Past due 90 days or more still accruing interest (3) $ 10,508 $ 5,390 $ 15,898 Loans on non-accrual status, included above $ 1,920 $ — $ 1,920 December 31, 2018 Conventional MPP Loans FHA Loans Total Past due 30-59 days delinquent $ 29,596 $ 14,845 $ 44,441 Past due 60-89 days delinquent 7,175 4,238 11,413 Past due 90 days or more delinquent 12,807 7,210 20,017 Total past due 49,578 26,293 75,871 Total current mortgage loans 10,210,145 250,308 10,460,453 Total mortgage loans $ 10,259,723 $ 276,601 $ 10,536,324 Other delinquency statistics: In process of foreclosure, included above (1) $ 7,557 $ 4,635 $ 12,192 Serious delinquency rate (2) 0.13 % 2.65 % 0.19 % Past due 90 days or more still accruing interest (3) $ 11,773 $ 7,210 $ 18,983 Loans on non-accrual status, included above $ 2,535 $ — $ 2,535 (1) Includes loans where the decision of foreclosure or a similar alternative such as pursuit of deed-in-lieu has been reported. Loans in process of foreclosure are included in past due or current loans dependent on their delinquency status. (2) Loans that are 90 days or more past due or in the process of foreclosure (including past due or current loans in the process of foreclosure) expressed as a percentage of the total loan portfolio class recorded investment amount. (3) Each conventional loan past due 90 days or more still accruing interest is on a schedule/scheduled monthly settlement basis and contains one or more credit enhancements. Loans that are well secured and in the process of collection as a result of remaining credit enhancements and schedule/scheduled settlement are not placed on non-accrual status. |
Derivatives and Hedging Activ_2
Derivatives and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | Fair Value of Derivative Instruments (in thousands) September 30, 2019 Notional Amount of Derivatives Derivative Assets Derivative Liabilities Derivatives designated as fair value hedging instruments: Interest rate swaps $ 9,428,000 $ 5,550 $ 85,183 Derivatives not designated as hedging instruments: Interest rate swaps 30,617,599 2,961 1,393 Interest rate swaptions 6,000,000 35,298 — Forward rate agreements 680,000 16 652 Mortgage delivery commitments 738,399 2,256 546 Total derivatives not designated as hedging instruments 38,035,998 40,531 2,591 Total derivatives before adjustments $ 47,463,998 46,081 87,774 Netting adjustments and cash collateral (1) 233,473 (83,698 ) Total derivative assets and total derivative liabilities $ 279,554 $ 4,076 December 31, 2018 Notional Amount of Derivatives Derivative Assets Derivative Liabilities Derivatives designated as fair value hedging instruments: Interest rate swaps $ 6,207,278 $ 2,393 $ 16,810 Derivatives not designated as hedging instruments: Interest rate swaps 4,322,480 3,311 1,904 Interest rate swaptions 3,000,000 15,911 — Forward rate agreements 131,000 — 2,664 Mortgage delivery commitments 146,009 1,726 1 Total derivatives not designated as hedging instruments 7,599,489 20,948 4,569 Total derivatives before adjustments $ 13,806,767 23,341 21,379 Netting adjustments and cash collateral (1) 42,424 (16,793 ) Total derivative assets and total derivative liabilities $ 65,765 $ 4,586 (1) Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions, and also cash collateral and related accrued interest held or placed by the FHLB with the same clearing agent and/or counterparty. Cash collateral posted and related accrued interest was (in thousands) $331,178 and $71,246 at September 30, 2019 and December 31, 2018 . Cash collateral received and related accrued interest was (in thousands) $14,007 and $12,029 at September 30, 2019 and December 31, 2018 . |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | Net Gains (Losses) on Derivatives and Hedging Activities Recorded in Non-interest Income (Loss) (in thousands) Three Months Ended September 30, 2019 2018 Derivatives designated as fair value hedging relationships: Interest rate swaps N/A $ (692 ) Derivatives not designated as hedging instruments: Economic hedges: Interest rate swaps $ (77,671 ) 10,128 Interest rate swaptions 19,315 (745 ) Forward rate agreements (4,584 ) 1,833 Net interest settlements (3,655 ) (16,695 ) Mortgage delivery commitments 4,785 (2,520 ) Total net gains (losses) related to derivatives not designated as hedging instruments (61,810 ) (7,999 ) Price alignment amount (1) 1,556 (113 ) Net gains (losses) on derivatives and hedging activities $ (60,254 ) $ (8,804 ) Nine Months Ended September 30, 2019 2018 Derivatives designated as fair value hedging relationships: Interest rate swaps N/A $ 1,870 Derivatives not designated as hedging instruments: Economic hedges: Interest rate swaps $ (232,074 ) (8,845 ) Interest rate swaptions 3,815 4 Forward rate agreements (11,283 ) 6,317 Net interest settlements (15,041 ) (38,876 ) Mortgage delivery commitments 14,004 (7,105 ) Total net gains (losses) related to derivatives not designated as hedging instruments (240,579 ) (48,505 ) Price alignment amount (1) 2,240 (134 ) Net gains (losses) on derivatives and hedging activities $ (238,339 ) $ (46,769 ) (1) This amount is for derivatives for which variation margin is characterized as a daily settled contract. Three Months Ended September 30, 2019 Advances Available-for-sale Securities Consolidated Bonds Total interest income (expense) recorded in the Statements of Income $ 267,537 $ 3,284 $ (260,453 ) Impact of Fair Value Hedging Relationships on the Statements of Income (1) Interest income/expense: Net interest settlements $ 8,115 $ (92 ) $ 550 Gain (loss) on derivatives (61,531 ) (2,957 ) (482 ) Gain (loss) on hedged items 57,287 2,925 565 Effect on net interest income $ 3,871 $ (124 ) $ 633 Three Months Ended September 30, 2018 (2) Advances Available-for-sale securities Consolidated Bonds Impact of Fair Value Hedging Relationships on the Statements of Income (1) Interest income/expense: Net interest settlements (3) $ 7,643 $ (4 ) $ (510 ) Effect on net interest income $ 7,643 $ (4 ) $ (510 ) Non-interest income (loss): Gain (loss) on derivatives $ 8,005 $ 104 $ 301 Gain (loss) on hedged items (8,799 ) (90 ) (213 ) Effect on non-interest income (loss) $ (794 ) $ 14 $ 88 Nine Months Ended September 30, 2019 Advances Available-for-sale Securities Consolidated Bonds Total interest income (expense) recorded in the Statements of Income $ 991,077 $ 21,697 $ (823,376 ) Impact of Fair Value Hedging Relationships on the Statements of Income (1) Interest income/expense: Net interest settlements $ 33,643 $ (136 ) $ 1,102 Gain (loss) on derivatives (227,468 ) (9,460 ) 1,392 Gain (loss) on hedged items 220,699 9,222 (1,434 ) Effect on net interest income $ 26,874 $ (374 ) $ 1,060 Nine Months Ended September 30, 2018 (2) Advances Available-for-sale securities Consolidated Bonds Impact of Fair Value Hedging Relationships on the Statements of Income (1) Interest income/expense: Net interest settlements (3) $ 15,077 $ (4 ) $ (3,360 ) Effect on net interest income $ 15,077 $ (4 ) $ (3,360 ) Non-interest income (loss): Gain (loss) on derivatives $ 58,315 $ 104 $ 1,166 Gain (loss) on hedged items (56,368 ) (90 ) (1,257 ) Effect on non-interest income (loss) $ 1,947 $ 14 $ (91 ) (1) Includes interest rate swaps. (2) Prior period amounts were not conformed to new hedge accounting guidance adopted January 1, 2019. (3) Excludes (amortization)/accretion on closed fair value hedge relationships of (in thousands) $(140) for the three months ended September 30, 2018 and (in thousands) $(463) for the nine months ended September 30, 2018 . |
Schedule of Derivative Instruments By Type, Gain (Loss) in Statement of Financial Performance [Table Text Block] | Cumulative Basis Adjustments for Fair Value Hedges (in thousands) September 30, 2019 Hedged Item Amortized Cost of Hedged Asset/ Liability (1) Basis Adjustment for Active Hedging Relationships Included in Amortized Cost Basis Adjustments for Discontinued Hedging Relationships Included in Amortized Cost Cumulative Amount of Fair Value Hedging Basis Adjustments Advances $ 9,201,520 $ 176,257 $ 936 $ 177,193 Available-for-sale securities 134,729 10,229 — 10,229 Consolidated Bonds 356,224 1,238 — 1,238 (1) Includes only the portion of amortized cost representing the hedged items in fair value hedging relationships. |
Offsetting Assets [Table Text Block] | Offsetting of Derivative Assets and Derivative Liabilities (in thousands) September 30, 2019 Derivative Instruments Meeting Netting Requirements Amount Recognized Gross Amount of Netting Adjustments and Cash Collateral Derivative Instruments Not Meeting Netting Requirements (1) Total Derivative Assets and Total Derivative Liabilities Derivative Assets: Uncleared $ 39,174 $ (39,174 ) $ 2,272 $ 2,272 Cleared 4,635 272,647 — 277,282 Total $ 279,554 Derivative Liabilities: Uncleared $ 85,837 $ (82,959 ) $ 1,198 $ 4,076 Cleared 739 (739 ) — — Total $ 4,076 December 31, 2018 Derivative Instruments Meeting Netting Requirements Amount Recognized Gross Amount of Netting Adjustments and Cash Collateral Derivative Instruments Not Meeting Netting Requirements (1) Total Derivative Assets and Total Derivative Liabilities Derivative Assets: Uncleared $ 20,284 $ (20,250 ) $ 1,726 $ 1,760 Cleared 1,331 62,674 — 64,005 Total $ 65,765 Derivative Liabilities: Uncleared $ 13,745 $ (11,824 ) $ 2,665 $ 4,586 Cleared 4,969 (4,969 ) — — Total $ 4,586 (1) Represents mortgage delivery commitments and forward rate agreements that are not subject to an enforceable netting agreement. |
Offsetting Liabilities [Table Text Block] | Offsetting of Derivative Assets and Derivative Liabilities (in thousands) September 30, 2019 Derivative Instruments Meeting Netting Requirements Amount Recognized Gross Amount of Netting Adjustments and Cash Collateral Derivative Instruments Not Meeting Netting Requirements (1) Total Derivative Assets and Total Derivative Liabilities Derivative Assets: Uncleared $ 39,174 $ (39,174 ) $ 2,272 $ 2,272 Cleared 4,635 272,647 — 277,282 Total $ 279,554 Derivative Liabilities: Uncleared $ 85,837 $ (82,959 ) $ 1,198 $ 4,076 Cleared 739 (739 ) — — Total $ 4,076 December 31, 2018 Derivative Instruments Meeting Netting Requirements Amount Recognized Gross Amount of Netting Adjustments and Cash Collateral Derivative Instruments Not Meeting Netting Requirements (1) Total Derivative Assets and Total Derivative Liabilities Derivative Assets: Uncleared $ 20,284 $ (20,250 ) $ 1,726 $ 1,760 Cleared 1,331 62,674 — 64,005 Total $ 65,765 Derivative Liabilities: Uncleared $ 13,745 $ (11,824 ) $ 2,665 $ 4,586 Cleared 4,969 (4,969 ) — — Total $ 4,586 (1) Represents mortgage delivery commitments and forward rate agreements that are not subject to an enforceable netting agreement. |
Deposits (Tables)
Deposits (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Deposits [Abstract] | |
Deposit Liabilities, Type [Table Text Block] | Deposits (in thousands) September 30, 2019 December 31, 2018 Interest bearing: Demand and overnight $ 791,894 $ 605,979 Term 37,600 51,600 Other 9,074 4,959 Total interest bearing 838,568 662,538 Non-interest bearing: Other 8,452 6,478 Total non-interest bearing 8,452 6,478 Total deposits $ 847,020 $ 669,016 |
Consolidated Obligations (Table
Consolidated Obligations (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Debt Disclosure [Abstract] | |
Schedule of Short-term Debt [Table Text Block] | Consolidated Discount Notes Outstanding (dollars in thousands) Book Value Principal Amount Weighted Average Interest Rate (1) September 30, 2019 $ 49,553,251 $ 49,639,893 1.99 % December 31, 2018 $ 46,943,632 $ 47,071,113 2.35 % (1) Represents an implied rate without consideration of concessions. |
Schedule of Maturities of Long-term Debt [Table Text Block] | Consolidated Bonds Outstanding by Original Contractual Maturity or Next Call Date (in thousands) Year of Original Contractual Maturity or Next Call Date September 30, 2019 December 31, 2018 Due in 1 year or less $ 27,905,065 $ 27,173,800 Due after 1 year through 2 years 6,690,500 5,773,565 Due after 2 years through 3 years 3,542,015 5,060,595 Due after 3 years through 4 years 1,979,465 2,470,620 Due after 4 years through 5 years 1,699,795 2,231,975 Thereafter 2,705,730 2,936,635 Total principal amount $ 44,522,570 $ 45,647,190 September 30, 2019 December 31, 2018 Year of Original Contractual Maturity Amount Weighted Average Interest Rate Amount Weighted Average Interest Rate Due in 1 year or less $ 22,924,065 1.96 % $ 21,085,800 2.20 % Due after 1 year through 2 years 8,300,500 1.97 6,998,565 2.13 Due after 2 years through 3 years 4,412,015 2.39 6,829,595 2.05 Due after 3 years through 4 years 2,564,465 2.60 2,958,620 2.39 Due after 4 years through 5 years 2,211,795 2.74 3,248,975 2.63 Thereafter 4,109,730 2.96 4,525,635 2.94 Total principal amount 44,522,570 2.17 45,647,190 2.29 Premiums 69,351 75,809 Discounts (25,257 ) (29,275 ) Hedging adjustments 1,238 (196 ) Fair value option valuation adjustment and accrued interest 22,423 (34,390 ) Total $ 44,590,325 $ 45,659,138 |
Schedule Of Consolidated Obligation Bonds By Call Feature [Table Text Block] | Consolidated Bonds Outstanding by Call Features (in thousands) September 30, 2019 December 31, 2018 Principal Amount of Consolidated Bonds: Non-callable $ 38,329,570 $ 38,539,190 Callable 6,193,000 7,108,000 Total principal amount $ 44,522,570 $ 45,647,190 September 30, 2019 December 31, 2018 Principal Amount of Consolidated Bonds: Fixed-rate $ 28,618,570 $ 29,837,190 Variable-rate 15,904,000 15,470,000 Step-up — 340,000 Total principal amount $ 44,522,570 $ 45,647,190 |
Affordable Housing Program (A_2
Affordable Housing Program (AHP) (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Affordable Housing Program (AHP) [Abstract] | |
Schedule of Activity in Affordable Housing Program Obligation [Table Text Block] | Analysis of AHP Liability (in thousands) Balance at December 31, 2018 $ 117,336 Assessments (current year additions) 22,342 Subsidy uses, net (25,390 ) Balance at September 30, 2019 $ 114,288 |
Capital (Tables)
Capital (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Capital [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Capital Requirements (dollars in thousands) September 30, 2019 December 31, 2018 Minimum Requirement Actual Minimum Requirement Actual Risk-based capital $ 722,256 $ 4,677,807 $ 837,666 $ 5,366,443 Capital-to-assets ratio (regulatory) 4.00 % 4.67 % 4.00 % 5.41 % Regulatory capital $ 4,008,442 $ 4,677,807 $ 3,968,103 $ 5,366,443 Leverage capital-to-assets ratio (regulatory) 5.00 % 7.00 % 5.00 % 8.11 % Leverage capital $ 5,010,552 $ 7,016,711 $ 4,960,129 $ 8,049,665 |
Schedule of Mandatorily Redeemable Capital Stock by Maturity Date [Table Text Block] | Mandatorily Redeemable Capital Stock Rollforward (in thousands) Balance, December 31, 2018 $ 23,184 Capital stock subject to mandatory redemption reclassified from equity 7,671 Repurchase/redemption of mandatorily redeemable capital stock (5,243 ) Balance, September 30, 2019 $ 25,612 Contractual Year of Redemption September 30, 2019 December 31, 2018 Year 1 $ 351 $ 1,633 Year 2 202 371 Year 3 1,249 357 Year 4 1,531 1,209 Year 5 6,712 3,553 Thereafter (1) 650 624 Past contractual redemption date due to remaining activity (2) 14,917 15,437 Total $ 25,612 $ 23,184 (1) Represents mandatorily redeemable capital stock resulting from a Finance Agency rule effective February 19, 2016, that made captive insurance companies ineligible for FHLB membership. Captive insurance companies that were admitted as FHLB members prior to September 12, 2014, will have their membership terminated no later than February 19, 2021. Captive insurance companies that were admitted as FHLB members on or after September 12, 2014, had their membership terminated no later than February 19, 2017. The related mandatorily redeemable capital stock is not required to be redeemed until five years after the member's termination. (2) Represents mandatorily redeemable capital stock that is past the end of the contractual redemption period because there is activity outstanding to which the mandatorily redeemable capital stock relates. |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive (Loss) Income (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Accumulated Other Comprehensive Income (Loss) (in thousands) Net unrealized gains (losses) on available-for-sale securities Pension and postretirement benefits Total accumulated other comprehensive income (loss) BALANCE, JUNE 30, 2018 $ 220 $ (15,563 ) $ (15,343 ) Other comprehensive income before reclassification: Net unrealized gains (losses) (101 ) — (101 ) Reclassifications from other comprehensive income (loss) to net income: Amortization - pension and postretirement benefits — 677 677 Net current period other comprehensive income (loss) (101 ) 677 576 BALANCE, SEPTEMBER 30, 2018 $ 119 $ (14,886 ) $ (14,767 ) BALANCE, JUNE 30, 2019 $ (360 ) $ (12,016 ) $ (12,376 ) Other comprehensive income before reclassification: Net unrealized gains (losses) (192 ) — (192 ) Reclassifications from other comprehensive income (loss) to net income: Amortization - pension and postretirement benefits — 459 459 Net current period other comprehensive income (loss) (192 ) 459 267 BALANCE, SEPTEMBER 30, 2019 $ (552 ) $ (11,557 ) $ (12,109 ) Net unrealized gains (losses) on available-for-sale securities Pension and postretirement benefits Total accumulated other comprehensive income (loss) BALANCE, DECEMBER 31, 2017 $ (124 ) $ (16,536 ) $ (16,660 ) Other comprehensive income before reclassification: Net unrealized gains (losses) 243 — 243 Reclassifications from other comprehensive income (loss) to net income: Amortization - pension and postretirement benefits — 1,650 1,650 Net current period other comprehensive income (loss) 243 1,650 1,893 BALANCE, SEPTEMBER 30, 2018 $ 119 $ (14,886 ) $ (14,767 ) BALANCE, DECEMBER 31, 2018 $ (110 ) $ (12,933 ) $ (13,043 ) Other comprehensive income before reclassification: Net unrealized gains (losses) (442 ) — (442 ) Reclassifications from other comprehensive income (loss) to net income: Amortization - pension and postretirement benefits — 1,376 1,376 Net current period other comprehensive income (loss) (442 ) 1,376 934 BALANCE, SEPTEMBER 30, 2019 $ (552 ) $ (11,557 ) $ (12,109 ) |
Pension and Postretirement Be_2
Pension and Postretirement Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Retirement Benefits [Abstract] | |
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | Net Periodic Benefit Cost (in thousands) Three Months Ended September 30, Defined Benefit Retirement Plan Postretirement Benefits Plan 2019 2018 2019 2018 Net Periodic Benefit Cost Service cost $ 225 $ 294 $ 3 $ 6 Interest cost 388 352 46 41 Amortization of net loss 459 677 — — Net periodic benefit cost $ 1,072 $ 1,323 $ 49 $ 47 Nine Months Ended September 30, Defined Benefit Postretirement Benefits Plan 2019 2018 2019 2018 Net Periodic Benefit Cost Service cost $ 676 $ 847 $ 10 $ 15 Interest cost 1,163 1,015 136 124 Amortization of net loss 1,376 1,650 — — Net periodic benefit cost $ 3,215 $ 3,512 $ 146 $ 139 |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Asset Balances by Operating Segment (in thousands) Assets Traditional Member MPP Total September 30, 2019 $ 87,706,932 $ 12,504,110 $ 100,211,042 December 31, 2018 86,042,150 13,160,423 99,202,573 Three Months Ended September 30, Traditional Member Finance MPP Total 2019 Net interest income $ 65,146 $ 22,093 $ 87,239 Non-interest income (loss) (8,242 ) 12,536 4,294 Non-interest expense 19,166 2,677 21,843 Income before assessments 37,738 31,952 69,690 Affordable Housing Program assessments 3,800 3,195 6,995 Net income $ 33,938 $ 28,757 $ 62,695 2018 Net interest income $ 102,279 $ 27,881 $ 130,160 Non-interest income (loss) (7,805 ) (1,118 ) (8,923 ) Non-interest expense 16,957 2,451 19,408 Income before assessments 77,517 24,312 101,829 Affordable Housing Program assessments 7,793 2,431 10,224 Net income $ 69,724 $ 21,881 $ 91,605 Nine Months Ended September 30, Traditional Member Finance MPP Total 2019 Net interest income $ 226,254 $ 80,671 $ 306,925 Non-interest income (loss) (22,306 ) 5,542 (16,764 ) Non-interest expense 59,158 8,486 67,644 Income before assessments 144,790 77,727 222,517 Affordable Housing Program assessments 14,569 7,773 22,342 Net income $ 130,221 $ 69,954 $ 200,175 2018 Net interest income $ 299,006 $ 78,405 $ 377,411 Non-interest income (loss) (24,732 ) (857 ) (25,589 ) Non-interest expense 55,202 8,471 63,673 Income before assessments 219,072 69,077 288,149 Affordable Housing Program assessments 22,028 6,908 28,936 Net income $ 197,044 $ 62,169 $ 259,213 |
Fair Value Disclosures Fair Val
Fair Value Disclosures Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Summary (in thousands) September 30, 2019 Fair Value Financial Instruments Carrying Value Total Level 1 Level 2 Level 3 Netting Adjustments and Cash Collateral (1) Assets: Cash and due from banks $ 15,417 $ 15,417 $ 15,417 $ — $ — $ — Interest-bearing deposits 599,201 599,201 — 599,201 — — Securities purchased under agreements to resell 1,839,576 1,839,586 — 1,839,586 — — Federal funds sold 14,082,000 14,082,000 — 14,082,000 — — Trading securities 11,416,483 11,416,483 — 11,416,483 — — Available-for-sale securities 434,177 434,177 — 434,177 — — Held-to-maturity securities 14,070,879 14,082,525 — 14,082,525 — — Advances (2) 46,358,204 46,426,913 — 46,426,913 — — Mortgage loans held for portfolio, net 10,883,590 11,082,299 — 11,071,158 11,141 — Accrued interest receivable 204,910 204,910 — 204,910 — — Derivative assets 279,554 279,554 — 46,081 — 233,473 Liabilities: Deposits 847,020 847,109 — 847,109 — — Consolidated Obligations: Discount Notes (3) 49,553,251 49,558,074 — 49,558,074 — — Bonds (4) 44,590,325 45,032,831 — 45,032,831 — — Mandatorily redeemable capital stock 25,612 25,612 25,612 — — — Accrued interest payable 144,699 144,699 — 144,699 — — Derivative liabilities 4,076 4,076 — 87,774 — (83,698 ) Other: Standby bond purchase agreements — 405 — 405 — — (1) Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. (2) Includes (in thousands) $10,267 of Advances recorded under the fair value option at September 30, 2019 . (3) Includes (in thousands) $13,914,315 of Consolidated Obligation Discount Notes recorded under the fair value option at September 30, 2019 . (4) Includes (in thousands) $5,436,423 of Consolidated Obligation Bonds recorded under the fair value option at September 30, 2019 . December 31, 2018 Fair Value Financial Instruments Carrying Value Total Level 1 Level 2 Level 3 Netting Adjustments and Cash Collateral (1) Assets: Cash and due from banks $ 10,037 $ 10,037 $ 10,037 $ — $ — $ — Interest-bearing deposits 122 122 — 122 — — Securities purchased under agreements to resell 4,402,208 4,402,237 — 4,402,237 — — Federal funds sold 10,793,000 10,793,000 — 10,793,000 — — Trading securities 223,980 223,980 — 223,980 — — Available-for-sale securities 2,402,897 2,402,897 — 2,402,897 — — Held-to-maturity securities 15,791,222 15,575,368 — 15,575,368 — — Advances (2) 54,822,252 54,736,645 — 54,736,645 — — Mortgage loans held for portfolio, net 10,500,917 10,329,982 — 10,317,010 12,972 — Accrued interest receivable 169,982 169,982 — 169,982 — — Derivative assets 65,765 65,765 — 23,341 — 42,424 Liabilities: Deposits 669,016 668,947 — 668,947 — — Consolidated Obligations: Discount Notes 46,943,632 46,944,523 — 46,944,523 — — Bonds (3) 45,659,138 45,385,615 — 45,385,615 — — Mandatorily redeemable capital stock 23,184 23,184 23,184 — — — Accrued interest payable 147,337 147,337 — 147,337 — — Derivative liabilities 4,586 4,586 — 21,379 — (16,793 ) Other: Standby bond purchase agreements — 443 — 443 — — (1) Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. (2) Includes (in thousands) $10,008 of Advances recorded under the fair value option at December 31, 2018 . (3) Includes (in thousands) $3,906,610 of Consolidated Obligation Bonds recorded under the fair value option at December 31, 2018 . |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | Fair Value Measurements (in thousands) Fair Value Measurements at September 30, 2019 Total Level 1 Level 2 Level 3 Netting Adjustments and Cash Collateral (1) Recurring fair value measurements - Assets Trading securities: U.S. Treasury obligations $ 9,386,559 $ — $ 9,386,559 $ — $ — GSE obligations 2,029,426 — 2,029,426 — — U.S. obligation single-family MBS 498 — 498 — — Total trading securities 11,416,483 — 11,416,483 — — Available-for-sale securities: Certificates of deposit 300,003 — 300,003 — — GSE obligations 134,174 — 134,174 — — Total available-for-sale securities 434,177 — 434,177 — — Advances 10,267 — 10,267 — — Derivative assets: Interest rate related 277,282 — 43,809 — 233,473 Forward rate agreements 16 — 16 — — Mortgage delivery commitments 2,256 — 2,256 — — Total derivative assets 279,554 — 46,081 — 233,473 Total assets at fair value $ 12,140,481 $ — $ 11,907,008 $ — $ 233,473 Recurring fair value measurements - Liabilities Consolidated Obligations: Discount Notes $ 13,914,315 $ — $ 13,914,315 $ — $ — Bonds 5,436,423 — 5,436,423 — — Total Consolidated Obligations 19,350,738 — 19,350,738 — — Derivative liabilities: Interest rate related 2,878 — 86,576 — (83,698 ) Forward rate agreements 652 — 652 — — Mortgage delivery commitments 546 — 546 — — Total derivative liabilities 4,076 — 87,774 — (83,698 ) Total liabilities at fair value $ 19,354,814 $ — $ 19,438,512 $ — $ (83,698 ) (1) Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. Fair Value Measurements at December 31, 2018 Total Level 1 Level 2 Level 3 Netting Adjustments and Cash Collateral (1) Recurring fair value measurements - Assets Trading securities: GSE obligations $ 223,368 $ — $ 223,368 $ — $ — U.S. obligation single-family MBS 612 — 612 — — Total trading securities 223,980 — 223,980 — — Available-for-sale securities: Certificates of deposit 2,350,002 — 2,350,002 — — GSE obligations 52,895 — 52,895 — — Total available-for-sale securities 2,402,897 — 2,402,897 — — Advances 10,008 — 10,008 — — Derivative assets: Interest rate related 64,039 — 21,615 — 42,424 Mortgage delivery commitments 1,726 — 1,726 — — Total derivative assets 65,765 — 23,341 — 42,424 Total assets at fair value $ 2,702,650 $ — $ 2,660,226 $ — $ 42,424 Recurring fair value measurements - Liabilities Consolidated Obligation Bonds $ 3,906,610 $ — $ 3,906,610 $ — $ — Derivative liabilities: Interest rate related 1,921 — 18,714 — (16,793 ) Forward rate agreements 2,664 — 2,664 — — Mortgage delivery commitments 1 — 1 — — Total derivative liabilities 4,586 — 21,379 — (16,793 ) Total liabilities at fair value $ 3,911,196 $ — $ 3,927,989 $ — $ (16,793 ) Nonrecurring fair value measurements - Assets (2) Mortgage loans held for portfolio $ 311 $ — $ — $ 311 (1) Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. (2) The fair value information presented is as of the date the fair value adjustment was recorded during the year ended December 31, 2018 . |
Fair Value Option, Disclosures [Table Text Block] | Fair Value Option - Financial Assets and Liabilities (in thousands) Three Months Ended September 30, Nine Months Ended September 30, Net Gains (Losses) from Changes in Fair Value Recognized in Earnings 2019 2018 2019 2018 Advances $ 53 $ (46 ) $ 259 $ (76 ) Consolidated Discount Notes (2,449 ) — (2,449 ) — Consolidated Bonds (6,285 ) (3,561 ) (48,425 ) 12,300 Total net gains (losses) $ (8,681 ) $ (3,607 ) $ (50,615 ) $ 12,224 September 30, 2019 December 31, 2018 Aggregate Unpaid Principal Balance Aggregate Fair Value Aggregate Fair Value Over/(Under) Aggregate Unpaid Principal Balance Aggregate Unpaid Principal Balance Aggregate Fair Value Aggregate Fair Value Over/(Under) Aggregate Unpaid Principal Balance Advances (1) $ 10,000 $ 10,267 $ 267 $ 10,000 $ 10,008 $ 8 Consolidated Discount Notes 13,936,995 13,914,315 (22,680 ) — — — Consolidated Bonds 5,414,000 5,436,423 22,423 3,941,000 3,906,610 (34,390 ) (1) At September 30, 2019 and December 31, 2018 , none of the Advances were 90 days or more past due or had been placed on non-accrual status. |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Off-Balance Sheet Commitments [Table Text Block] | Off-Balance Sheet Commitments (in thousands) September 30, 2019 December 31, 2018 Notional Amount Expire within one year Expire after one year Total Expire within one year Expire after one year Total Standby Letters of Credit $ 15,039,194 $ 1,051,164 $ 16,090,358 $ 14,578,925 $ 268,395 $ 14,847,320 Commitments for standby bond purchases 20,360 55,150 75,510 23,215 54,820 78,035 Commitments to purchase mortgage loans 738,399 — 738,399 146,009 — 146,009 Unsettled Consolidated Bonds, principal amount (1) — — — 92,000 — 92,000 Unsettled Consolidated Discount Notes, principal amount (1) 20,000 — 20,000 525,000 — 525,000 (1) Expiration is based on settlement period rather than underlying contractual maturity of Consolidated Obligations. |
Transactions with Other FHLBa_2
Transactions with Other FHLBanks (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Other FHLBanks [Member] | |
Schedule of Other Transactions [Line Items] | |
Schedule of Other Transactions by Balance Sheet Grouping [Table Text Block] | Lending and Borrowing Between the FHLB and Other FHLBanks (in thousands) Average Daily Balances for the Nine Months Ended September 30, 2019 2018 Loans to other FHLBanks $ 3,846 $ 1,832 Borrowings from other FHLBanks 183 366 |
Transactions with Stockholders
Transactions with Stockholders (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Schedule of Other Transactions [Line Items] | |
Schedule of Transactions with Members and Former Members [Table Text Block] | Stockholders Holding Five Percent or more of Regulatory Capital Stock (dollars in millions) Regulatory Capital Stock Advance MPP Unpaid September 30, 2019 Balance % of Total Principal Principal Balance JPMorgan Chase Bank, N.A. $ 852 24 % $ 8,050 $ — U.S. Bank, N.A. 497 14 4,974 17 Regulatory Capital Stock Advance MPP Unpaid December 31, 2018 Balance % of Total Principal Principal Balance JPMorgan Chase Bank, N.A. $ 1,085 25 % $ 23,400 $ — U.S. Bank, N.A. 796 18 4,574 19 The Huntington National Bank 248 6 6 486 |
Director [Member] | |
Schedule of Other Transactions [Line Items] | |
Schedule of Other Transactions by Balance Sheet Grouping [Table Text Block] | Transactions with Directors' Financial Institutions (dollars in millions) September 30, 2019 December 31, 2018 Balance % of Total (1) Balance % of Total (1) Advances $ 3,214 7.0 % $ 3,424 6.2 % MPP 121 1.1 585 5.7 Regulatory capital stock 178 4.9 419 9.6 (1) Percentage of total principal (Advances), unpaid principal balance (MPP), and regulatory capital stock. |
Background Information (Details
Background Information (Details) | Sep. 30, 2019Banks |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Number of Federal Home Loan Banks | 11 |
Recently Issued Accounting St_3
Recently Issued Accounting Standards and Interpretations Narrative (Details) | Jan. 01, 2019USD ($) |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Operating Lease, Right-of-Use Asset | $ 5,473,000 |
Operating Lease, Liability | $ 6,141,000 |
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] | us-gaap:OtherAssets |
Operating Lease, Liability, Statement of Financial Position [Extensible List] | us-gaap:OtherLiabilities |
Trading Securities (Trading Sec
Trading Securities (Trading Securities by Major Type) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Debt and Equity Securities, FV-NI [Line Items] | ||
Trading securities | $ 11,416,483 | $ 223,980 |
US Treasury Securities [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Trading securities | 9,386,559 | 0 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Trading securities | 2,029,426 | 223,368 |
Other Than Mortgage Backed Securities [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Trading securities | 11,415,985 | 223,368 |
Single Family, Mortgage-backed Securities, Other US Obligations [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Trading securities | $ 498 | $ 612 |
Trading Securities (Net (Losses
Trading Securities (Net (Losses) Gains on Trading Securities) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Debt Securities, Trading, and Equity Securities, FV-NI [Abstract] | ||
Debt Securities, Trading, Unrealized Gain (Loss) | $ 263,733 | $ 800 |
Debt Securities, Trading, Gain (Loss) | $ 263,733 | $ 800 |
Available-for-Sale Securities N
Available-for-Sale Securities Narrative (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Debt Securities, Available-for-sale [Abstract] | ||
Debt Securities, Available-for-sale, Realized Gain (Loss), Excluding Other-than-temporary Impairment | $ 0 | $ 0 |
Available-for-Sale Securities M
Available-for-Sale Securities Major Security Type (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | |
Debt Securities, Available-for-sale [Line Items] | |||
Debt Securities, Available-for-sale, Amortized Cost | [1] | $ 434,729 | $ 2,403,007 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 203 | 87 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (755) | (197) | |
Available-for-sale securities | 434,177 | 2,402,897 | |
Certificates of Deposit [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Debt Securities, Available-for-sale, Amortized Cost | [1] | 300,000 | 2,350,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 3 | 71 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | (69) | |
Available-for-sale securities | 300,003 | 2,350,002 | |
US Government-sponsored Enterprises Debt Securities [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Debt Securities, Available-for-sale, Amortized Cost | [1] | 134,729 | 53,007 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 200 | 16 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (755) | (128) | |
Available-for-sale securities | $ 134,174 | $ 52,895 | |
[1] | Amortized cost of available-for-sale securities includes adjustments made to the cost basis of an investment for accretion, amortization, and/or fair value hedge accounting adjustments. |
Available-for-Sale Securities C
Available-for-Sale Securities Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | |
Debt Securities, Available-for-sale [Abstract] | |||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Amortized Cost | $ 300,000 | $ 2,350,000 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Amortized Cost | 0 | 0 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Amortized Cost | 122,166 | 48,999 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Amortized Cost | 12,563 | 4,008 | |
Debt Securities, Available-for-sale, Amortized Cost | [1] | 434,729 | 2,403,007 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value | 300,003 | 2,350,002 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | 0 | 0 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | 121,648 | 48,904 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Fair Value | 12,526 | 3,991 | |
Available-for-sale securities | $ 434,177 | $ 2,402,897 | |
[1] | Amortized cost of available-for-sale securities includes adjustments made to the cost basis of an investment for accretion, amortization, and/or fair value hedge accounting adjustments. |
Available-for-Sale Securities I
Available-for-Sale Securities Interest Rate Payment Terms (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | |
Debt Securities, Available-for-sale [Line Items] | |||
Debt Securities, Available-for-sale, Amortized Cost | [1] | $ 434,729 | $ 2,403,007 |
Fixed-rate [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Debt Securities, Available-for-sale, Amortized Cost | $ 434,729 | $ 2,403,007 | |
[1] | Amortized cost of available-for-sale securities includes adjustments made to the cost basis of an investment for accretion, amortization, and/or fair value hedge accounting adjustments. |
Held-to-Maturity Securities Nar
Held-to-Maturity Securities Narrative (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Debt Securities, Held-to-maturity [Abstract] | ||
Debt Securities, Held-to-maturity, Sold, Realized Gain (Loss), Excluding Other-than-temporary Impairment | $ 0 | $ 0 |
Held-to-Maturity Securities (Ma
Held-to-Maturity Securities (Major Security Types) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | |
Schedule of Held-to-maturity Securities [Line Items] | |||
Debt Securities, Held-to-maturity, Amortized Cost, before Other-than-temporary Impairment | [1],[2] | $ 14,070,879 | $ 15,791,222 |
Debt Securities, Held-to-maturity | [3] | 14,070,879 | 15,791,222 |
Held-to-maturity Securities, Unrecognized Holding Gain | 59,110 | 12,170 | |
Held-to-maturity Securities, Unrecognized Holding Loss | (47,464) | (228,024) | |
Debt Securities, Held-to-maturity, Fair Value | 14,082,525 | 15,575,368 | |
US Treasury Securities [Member] | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Debt Securities, Held-to-maturity, Amortized Cost, before Other-than-temporary Impairment | [1] | 34,991 | 35,667 |
Debt Securities, Held-to-maturity | 34,991 | 35,667 | |
Held-to-maturity Securities, Unrecognized Holding Gain | 23 | 0 | |
Held-to-maturity Securities, Unrecognized Holding Loss | 0 | (6) | |
Debt Securities, Held-to-maturity, Fair Value | 35,014 | 35,661 | |
Other Than Mortgage Backed Securities [Member] | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Debt Securities, Held-to-maturity, Amortized Cost, before Other-than-temporary Impairment | [1],[2] | 34,991 | 35,667 |
Debt Securities, Held-to-maturity | 34,991 | 35,667 | |
Held-to-maturity Securities, Unrecognized Holding Gain | 23 | 0 | |
Held-to-maturity Securities, Unrecognized Holding Loss | 0 | (6) | |
Debt Securities, Held-to-maturity, Fair Value | 35,014 | 35,661 | |
Single Family, Mortgage-backed Securities, Other US Obligations [Member] | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Debt Securities, Held-to-maturity, Amortized Cost, before Other-than-temporary Impairment | [1] | 1,767,788 | 2,040,642 |
Debt Securities, Held-to-maturity | 1,767,788 | 2,040,642 | |
Held-to-maturity Securities, Unrecognized Holding Gain | 15,786 | 540 | |
Held-to-maturity Securities, Unrecognized Holding Loss | (26) | (47,463) | |
Debt Securities, Held-to-maturity, Fair Value | 1,783,548 | 1,993,719 | |
Collateralized Mortgage Backed Securities [Member] | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Debt Securities, Held-to-maturity, Amortized Cost, before Other-than-temporary Impairment | [1],[2],[4] | 14,035,888 | 15,755,555 |
Debt Securities, Held-to-maturity | [4] | 14,035,888 | 15,755,555 |
Held-to-maturity Securities, Unrecognized Holding Gain | 59,087 | 12,170 | |
Held-to-maturity Securities, Unrecognized Holding Loss | (47,464) | (228,018) | |
Debt Securities, Held-to-maturity, Fair Value | [4] | 14,047,511 | 15,539,707 |
Single Family [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Debt Securities, Held-to-maturity, Amortized Cost, before Other-than-temporary Impairment | [1] | 4,790,602 | 5,543,524 |
Debt Securities, Held-to-maturity | 4,790,602 | 5,543,524 | |
Held-to-maturity Securities, Unrecognized Holding Gain | 43,214 | 9,891 | |
Held-to-maturity Securities, Unrecognized Holding Loss | (24,923) | (162,097) | |
Debt Securities, Held-to-maturity, Fair Value | 4,808,893 | 5,391,318 | |
Multifamily [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Debt Securities, Held-to-maturity, Amortized Cost, before Other-than-temporary Impairment | [1] | 7,477,498 | 8,171,389 |
Debt Securities, Held-to-maturity | 7,477,498 | 8,171,389 | |
Held-to-maturity Securities, Unrecognized Holding Gain | 87 | 1,739 | |
Held-to-maturity Securities, Unrecognized Holding Loss | (22,515) | (18,458) | |
Debt Securities, Held-to-maturity, Fair Value | $ 7,455,070 | $ 8,154,670 | |
[1] | Carrying value equals amortized cost. | ||
[2] | Carrying value equals amortized cost. | ||
[3] | Fair values: $14,082,525 and $15,575,368 at September 30, 2019 and December 31, 2018 , respectively. | ||
[4] | MBS are not presented by contractual maturity because their expected maturities will likely differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees. |
Held-to-Maturity Securities (Ne
Held-to-Maturity Securities (Net Premuims) (Details) - Collateralized Mortgage Backed Securities [Member] - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Held To Maturity Securities, Premiums | $ 32,794 | $ 42,299 |
Held-to-maturity Securities, Discounts | (14,397) | (19,730) |
Held-to-maturity Securities, Premiums (Discounts), Net | $ 18,397 | $ 22,569 |
Held-to-Maturity Securities (Co
Held-to-Maturity Securities (Continuous Unrealized Loss Position) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | $ 4,863,029 | $ 6,589,156 |
Held To Maturity Securities Continuous Unrealized Loss Position Less Than 12 Months Accumulated Loss | (12,288) | (21,343) |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 4,908,399 | 5,616,182 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (35,176) | (206,681) |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 9,771,428 | 12,205,338 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | (47,464) | (228,024) |
US Treasury Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 35,661 | |
Held To Maturity Securities Continuous Unrealized Loss Position Less Than 12 Months Accumulated Loss | (6) | |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 0 | |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 35,661 | |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | (6) | |
Other Than Mortgage Backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 35,661 | |
Held To Maturity Securities Continuous Unrealized Loss Position Less Than 12 Months Accumulated Loss | (6) | |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 0 | |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 35,661 | |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | (6) | |
Single Family, Mortgage-backed Securities, Other US Obligations [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 40,500 | 175,663 |
Held To Maturity Securities Continuous Unrealized Loss Position Less Than 12 Months Accumulated Loss | (26) | (1,571) |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 0 | 1,526,835 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | (45,892) |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 40,500 | 1,702,498 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | (26) | (47,463) |
Collateralized Mortgage Backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 6,553,495 | |
Held To Maturity Securities Continuous Unrealized Loss Position Less Than 12 Months Accumulated Loss | (21,337) | |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 5,616,182 | |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (206,681) | |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 12,169,677 | |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | (228,018) | |
Single Family [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 426,932 | 401,509 |
Held To Maturity Securities Continuous Unrealized Loss Position Less Than 12 Months Accumulated Loss | (1,788) | (1,581) |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 2,182,778 | 3,859,608 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (23,135) | (160,516) |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 2,609,710 | 4,261,117 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | (24,923) | (162,097) |
Multifamily [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 4,395,597 | 5,976,323 |
Held To Maturity Securities Continuous Unrealized Loss Position Less Than 12 Months Accumulated Loss | (10,474) | (18,185) |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 2,725,621 | 229,739 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (12,041) | (273) |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 7,121,218 | 6,206,062 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | $ (22,515) | $ (18,458) |
Held-to-Maturity Securities (_2
Held-to-Maturity Securities (Contractual Maturity) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | |
Schedule of Held-to-maturity Securities [Line Items] | |||
Debt Securities, Held-to-maturity, Amortized Cost, before Other-than-temporary Impairment | [1],[2] | $ 14,070,879 | $ 15,791,222 |
Debt Securities, Held-to-maturity, Amortized Cost, before Other-than-temporary Impairment | [1],[2] | 14,070,879 | 15,791,222 |
Debt Securities, Held-to-maturity | [3] | 14,070,879 | 15,791,222 |
Debt Securities, Held-to-maturity, Fair Value | 14,082,525 | 15,575,368 | |
Other Than Mortgage Backed Securities [Member] | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Held-to-maturity Securities, Debt Maturities, within One Year Amortized Cost | [2] | 34,991 | 35,667 |
Held-to-maturity Securities, Debt Maturities, After One Through Five Years Amortized Cost | [2] | 0 | 0 |
Held-to-maturity Securities, Debt Maturities, After Five Through Ten Years Amortized Cost | [2] | 0 | 0 |
Held-to-maturity Securities, Debt Maturities, After Ten Years Amortized Cost | [2] | 0 | 0 |
Debt Securities, Held-to-maturity, Amortized Cost, before Other-than-temporary Impairment | [1],[2] | 34,991 | 35,667 |
Debt Securities, Held-to-maturity, Amortized Cost, before Other-than-temporary Impairment | [1],[2] | 34,991 | 35,667 |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, within One Year, Amortized Cost | 34,991 | 35,667 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Amortized Cost | 0 | 0 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Amortized Cost | 0 | 0 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after 10 Years, Amortized Cost | 0 | 0 | |
Debt Securities, Held-to-maturity | 34,991 | 35,667 | |
Held-to-maturity Securities, Debt Maturities, within One Year, Fair Value | 35,014 | 35,661 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | 0 | 0 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | 0 | 0 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Fair Value | 0 | 0 | |
Debt Securities, Held-to-maturity, Fair Value | 35,014 | 35,661 | |
Collateralized Mortgage Backed Securities [Member] | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Debt Securities, Held-to-maturity, Amortized Cost, before Other-than-temporary Impairment | [1],[2],[4] | 14,035,888 | 15,755,555 |
Debt Securities, Held-to-maturity, Amortized Cost, before Other-than-temporary Impairment | [1],[2],[4] | 14,035,888 | 15,755,555 |
Debt Securities, Held-to-maturity | [4] | 14,035,888 | 15,755,555 |
Debt Securities, Held-to-maturity, Fair Value | [4] | $ 14,047,511 | $ 15,539,707 |
[1] | Carrying value equals amortized cost. | ||
[2] | Carrying value equals amortized cost. | ||
[3] | Fair values: $14,082,525 and $15,575,368 at September 30, 2019 and December 31, 2018 , respectively. | ||
[4] | MBS are not presented by contractual maturity because their expected maturities will likely differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees. |
Held-to-Maturity Securities (In
Held-to-Maturity Securities (Interest Rate Payment Terms) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | |
Schedule of Held-to-maturity Securities [Line Items] | |||
Debt Securities, Held-to-maturity, Amortized Cost, before Other-than-temporary Impairment | [1],[2] | $ 14,070,879 | $ 15,791,222 |
Other Than Mortgage Backed Securities [Member] | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Debt Securities, Held-to-maturity, Amortized Cost, before Other-than-temporary Impairment | [1],[2] | 34,991 | 35,667 |
Collateralized Mortgage Backed Securities [Member] | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Debt Securities, Held-to-maturity, Amortized Cost, before Other-than-temporary Impairment | [1],[2],[3] | 14,035,888 | 15,755,555 |
Fixed-rate [Member] | Other Than Mortgage Backed Securities [Member] | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Debt Securities, Held-to-maturity, Amortized Cost, before Other-than-temporary Impairment | 34,991 | 35,667 | |
Fixed-rate [Member] | Collateralized Mortgage Backed Securities [Member] | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Debt Securities, Held-to-maturity, Amortized Cost, before Other-than-temporary Impairment | 5,770,756 | 6,652,055 | |
Variable-rate [Member] | Collateralized Mortgage Backed Securities [Member] | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Debt Securities, Held-to-maturity, Amortized Cost, before Other-than-temporary Impairment | $ 8,265,132 | $ 9,103,500 | |
[1] | Carrying value equals amortized cost. | ||
[2] | Carrying value equals amortized cost. | ||
[3] | MBS are not presented by contractual maturity because their expected maturities will likely differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees. |
Advances (Advance Redemption Te
Advances (Advance Redemption Terms) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | |
Advances [Abstract] | |||
Due in 1 year or less | $ 30,921,585 | $ 38,592,494 | |
Due after 1 year through 2 years | 4,848,567 | 6,461,276 | |
Due after 2 years through 3 years | 1,953,191 | 3,146,830 | |
Due after 3 years through 4 years | 1,329,705 | 1,145,118 | |
Due after 4 years through 5 years | 1,746,348 | 935,439 | |
Thereafter | 5,386,305 | 4,591,015 | |
Federal Home Loan Bank, Advances, Par Value, Total | 46,185,701 | 54,872,172 | |
Commitment Fees on Advances | (329) | (456) | |
Discount on Affordable Housing Program Advances | (3,451) | (4,386) | |
Federal Home Loan Bank Advances, Premium | 1,294 | 1,510 | |
Federal Home Loan Bank Advances, Discount | (2,471) | (3,090) | |
Hedging adjustments | 177,193 | (43,506) | |
Federal Home Loan Bank, Advances, Valuation Adjustments under Fair Value Option | [1] | 267 | 8 |
Advances | $ 46,358,204 | $ 54,822,252 | |
Federal Home Loan Bank Advances, Weighted Average Interest Rate of Amounts Maturing Within One Year of Balance Sheet Date | 2.16% | 2.56% | |
Federal Home Loan Bank Advances, Weighted Average Interest Rate of Amounts Maturing From One To Two Years of Balance Sheet Date | 2.26% | 2.39% | |
Federal Home Loan Bank Advances, Weighted Average Interest Rate of Amounts Maturing From Two To Three Years of Balance Sheet Date | 2.38% | 2.30% | |
Federal Home Loan Bank Advances, Weighted Average Interest Rate of Amounts Maturing From Three To Four Years of Balance Sheet Date | 2.49% | 2.56% | |
Federal Home Loan Bank Advances, Weighted Average Interest Rate of Amounts Maturing From Four To Five Years of Balance Sheet Date | 2.25% | 2.76% | |
Federal Home Loan Bank Advances, Weighted Average Interest Rate of Amounts Maturing After Five Years of Balance Sheet Date | 2.50% | 2.98% | |
Federal Home Loan Bank Advances, Weighted Average Interest Rate As Of Balance Sheet Date | 2.23% | 2.56% | |
[1] | At September 30, 2019 and December 31, 2018 , none of the Advances were 90 days or more past due or had been placed on non-accrual status. |
Advances (Year of Contractual M
Advances (Year of Contractual Maturity or Next Call Date) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Advances [Abstract] | ||
Federal Home Loan Bank Advances, Earlier of Contractual Maturity or Next Call Date, Due With in Next Rolling Twelve Months | $ 34,181,189 | $ 43,793,555 |
Federal Home Loan Bank Advances Earlier of Contractual Maturity or Next Call Date Due in Rolling Year Two | 5,221,817 | 4,338,117 |
Federal Home Loan Bank Advances Earlier of Contractual Maturity or Next Call Date Due in Rolling Year Three | 1,683,289 | 3,490,580 |
Federal Home Loan Bank Advances Earlier of Contractual Maturity or Next Call Date Due in Rolling Year Four | 1,195,707 | 753,716 |
Federal Home Loan Bank Advances Earlier of Contractual Maturity or Next Call Date Due in Rolling Year Five | 1,517,394 | 905,189 |
Federal Home Loan Bank Advances Earlier of Contractual Maturity or Next Call Date Due After Rolling Year Five | 2,386,305 | 1,591,015 |
Federal Home Loan Bank, Advances, Par Value, Total | $ 46,185,701 | $ 54,872,172 |
Advances (Advances by Year of C
Advances (Advances by Year of Contractual Maturity or Next Put/Convert Date for Putable/Convertible Advances) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Advances [Abstract] | ||
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put Date, Due within One Year of Balance Sheet Date | $ 31,935,835 | $ 38,827,494 |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put Date, Due From One To Two Years of Balance Sheet Date | 5,223,567 | 6,611,276 |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put Date, Due From Two To Three Years of Balance Sheet Date | 2,076,191 | 3,221,830 |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put Date, Due From Three To Four Years of Balance Sheet Date | 1,259,705 | 1,145,118 |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put Date, Due From Four To Five Years of Balance Sheet Date | 1,492,098 | 835,439 |
Federal Home Loan Bank, Advances, Earlier of Contractual Maturity or Next Put Date, Due After Five Years of Balance Sheet Date | 4,198,305 | 4,231,015 |
Federal Home Loan Bank, Advances, Par Value, Total | $ 46,185,701 | $ 54,872,172 |
Advances (Advances by Interest
Advances (Advances by Interest Rate Payment Terms) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | |
Advances [Abstract] | |||
Federal Home Loan Bank Advances, Maturities by Interest Rate Type, Fixed Rate | [1] | $ 31,152,304 | $ 23,988,298 |
Federal Home Loan Bank Advances, Maturities by Interest Rate Type, Floating Rate | [1] | 15,033,397 | 30,883,874 |
Federal Home Loan Bank, Advances, Par Value, Total | $ 46,185,701 | $ 54,872,172 | |
[1] | Payment terms based on current interest rate terms, which reflect any option exercises or rate conversions that have occurred subsequent to the related Advance issuance. |
Advances (Borrowers Holding Fiv
Advances (Borrowers Holding Five Percent or more of Total Advances) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Federal Home Loan Bank, Advances [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | $ 46,185,701 | $ 54,872,172 |
Federal Home Loan Bank Borrower Advances, Five Percent Or More Of Principal Balance [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | $ 19,776,000 | $ 31,701,000 |
Concentration Risk, Percentage, Five Percent or More Of Principal Balance | 42.00% | 58.00% |
JPMorgan Chase Bank National Association [Member] | Federal Home Loan Bank Borrower Advances, Five Percent Or More Of Principal Balance [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | $ 8,050,000 | $ 23,400,000 |
Concentration Risk, Percentage, Five Percent or More Of Principal Balance | 17.00% | 43.00% |
U.S. Bank, N.A. [Member] | Federal Home Loan Bank Borrower Advances, Five Percent Or More Of Principal Balance [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | $ 4,974,000 | $ 4,574,000 |
Concentration Risk, Percentage, Five Percent or More Of Principal Balance | 11.00% | 8.00% |
Third Federal Savings and Loan Association [Member] | Federal Home Loan Bank Borrower Advances, Five Percent Or More Of Principal Balance [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | $ 3,896,000 | $ 3,727,000 |
Concentration Risk, Percentage, Five Percent or More Of Principal Balance | 8.00% | 7.00% |
Fifth Third Bank [Member] | Federal Home Loan Bank Borrower Advances, Five Percent Or More Of Principal Balance [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | $ 2,856,000 | |
Concentration Risk, Percentage, Five Percent or More Of Principal Balance | 6.00% |
Mortgage Loans Held for Portf_3
Mortgage Loans Held for Portfolio (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | |
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans And Leases Receivable, Unpaid Principal Balance | $ 10,637,238 | $ 10,272,154 | |
Loans and Leases Receivable, Unamortized Premiums | 232,145 | 227,161 | |
Loans and Leases Receivable, Unamortized Discounts | (2,272) | (2,603) | |
Loans and Leases Receivable, Hedging Basis Adjustment | [1] | 17,219 | 5,045 |
Loans and Leases Receivable, Gross, Consumer, Mortgage | 10,884,330 | 10,501,757 | |
Conventional Mortgage Loan [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans And Leases Receivable, Unpaid Principal Balance | 10,396,652 | 9,999,307 | |
Federal Housing Administration Loan [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans And Leases Receivable, Unpaid Principal Balance | 240,586 | 272,847 | |
Single Family [Member] | Loans Receivable With Fixed Rates Of Interest Medium Term [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans And Leases Receivable, Unpaid Principal Balance | [2] | 805,059 | 933,340 |
Single Family [Member] | Loans Receivable With Fixed Rates Of Interest Long Term [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans And Leases Receivable, Unpaid Principal Balance | $ 9,832,179 | $ 9,338,814 | |
[1] | Represents the unamortized balance of the mortgage purchase commitments' market values at the time of settlement. The market value of the commitment is included in the basis of the mortgage loan and amortized accordingly. | ||
[2] | Medium-term is defined as a term of 15 years or less. |
Mortgage Loans Held for Portf_4
Mortgage Loans Held for Portfolio (Details 2) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Union Savings Bank [Member] | ||
Participating Mortgage Loans [Line Items] | ||
Unpaid Principal Balances Greater Than Five Percent of Total | $ 3,590 | $ 3,449 |
Percent of Total | 34.00% | 34.00% |
Guardian Saving Bank FSB [Member] | ||
Participating Mortgage Loans [Line Items] | ||
Unpaid Principal Balances Greater Than Five Percent of Total | $ 991 | $ 987 |
Percent of Total | 9.00% | 10.00% |
FirstBank [Member] | ||
Participating Mortgage Loans [Line Items] | ||
Unpaid Principal Balances Greater Than Five Percent of Total | $ 593 | |
Percent of Total | 6.00% |
Allowance for Credit Losses Nar
Allowance for Credit Losses Narrative (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Receivables [Abstract] | ||
Real Estate Acquired Through Foreclosure | $ 0 | $ 0 |
Financing Receivable, Modifications, Recorded Investment | $ 12,156,000 | $ 10,554,000 |
Allowance for Credit Losses (De
Allowance for Credit Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Dec. 31, 2018 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Loans and Leases Receivable, Allowance | $ 740 | $ 840 | $ 740 | $ 840 | ||
Total recorded investment | 10,920,088 | 10,536,324 | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||
Balance, beginning of period | 840 | |||||
Balance, end of period | 740 | 740 | ||||
Conventional Mortgage Loan [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Credit Losses, Collectively Evaluated for Impairment | 740 | 840 | ||||
Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 0 | ||||
Loans and Leases Receivable, Allowance | 784 | $ 953 | 740 | $ 1,190 | 740 | 840 |
Recorded Investment, Collectively Evaluated for Impairment | 10,664,109 | 10,249,169 | ||||
Recorded Investment, Individually Evaluated for Impairment | 12,156 | 10,554 | ||||
Total recorded investment | $ 10,676,265 | $ 10,259,723 | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||
Balance, beginning of period | 784 | 953 | 840 | 1,190 | ||
Allowance for Loan and Lease Losses Write-offs, Net | (44) | (26) | (100) | (263) | ||
Balance, end of period | $ 740 | $ 927 | $ 740 | $ 927 |
Allowance for Credit Losses Rol
Allowance for Credit Losses Rollforward of LRA (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2019USD ($) | |
Change in Lender Risk Account Balance [Roll Forward] | |
Lender Risk Account, Beginning Balance | $ 213,260 |
Lender Risk Account, Additions | 17,812 |
Lender Risk Account, Claims | (10) |
Lender Risk Account, Distributions | (7,934) |
Lender Risk Account, Ending Balance | $ 223,128 |
Allowance for Credit Losses Sch
Allowance for Credit Losses Schedule of Loans Outstanding and Past Due (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | |
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | $ 69,859 | $ 75,871 | |
Financing Receivable, Recorded Investment, Current | 10,850,229 | 10,460,453 | |
Total recorded investment | 10,920,088 | 10,536,324 | |
Mortgage Loans In Process Of Foreclosure | [1] | $ 10,035 | $ 12,192 |
Loans and Leases Receivable, Serious Delinquencies Ratio | [2] | 0.15% | 0.19% |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | [3] | $ 15,898 | $ 18,983 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,920 | 2,535 | |
Conventional Mortgage Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 47,233 | 49,578 | |
Financing Receivable, Recorded Investment, Current | 10,629,032 | 10,210,145 | |
Total recorded investment | 10,676,265 | 10,259,723 | |
Mortgage Loans In Process Of Foreclosure | [1] | $ 7,561 | $ 7,557 |
Loans and Leases Receivable, Serious Delinquencies Ratio | [2] | 0.11% | 0.13% |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | [3] | $ 10,508 | $ 11,773 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,920 | 2,535 | |
Federal Housing Administration Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 22,626 | 26,293 | |
Financing Receivable, Recorded Investment, Current | 221,197 | 250,308 | |
Total recorded investment | 243,823 | 276,601 | |
Mortgage Loans In Process Of Foreclosure | [1] | $ 2,474 | $ 4,635 |
Loans and Leases Receivable, Serious Delinquencies Ratio | [2] | 2.25% | 2.65% |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | [3] | $ 5,390 | $ 7,210 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 0 | |
Past due 30-59 days delinquent | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 43,597 | 44,441 | |
Past due 30-59 days delinquent | Conventional Mortgage Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 30,191 | 29,596 | |
Past due 30-59 days delinquent | Federal Housing Administration Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 13,406 | 14,845 | |
Past due 60-89 days delinquent | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 9,874 | 11,413 | |
Past due 60-89 days delinquent | Conventional Mortgage Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 6,044 | 7,175 | |
Past due 60-89 days delinquent | Federal Housing Administration Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 3,830 | 4,238 | |
Past due 90 days or more delinquent | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 16,388 | 20,017 | |
Past due 90 days or more delinquent | Conventional Mortgage Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | 10,998 | 12,807 | |
Past due 90 days or more delinquent | Federal Housing Administration Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Recorded Investment, Past Due | $ 5,390 | $ 7,210 | |
[1] | Includes loans where the decision of foreclosure or a similar alternative such as pursuit of deed-in-lieu has been reported. Loans in process of foreclosure are included in past due or current loans dependent on their delinquency status. | ||
[2] | Loans that are 90 days or more past due or in the process of foreclosure (including past due or current loans in the process of foreclosure) expressed as a percentage of the total loan portfolio class recorded investment amount. | ||
[3] | Each conventional loan past due 90 days or more still accruing interest is on a schedule/scheduled monthly settlement basis and contains one or more credit enhancements. Loans that are well secured and in the process of collection as a result of remaining credit enhancements and schedule/scheduled settlement are not placed on non-accrual status. |
Derivatives and Hedging Activ_3
Derivatives and Hedging Activities Derivatives in Statement of Condition (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | |||
Derivatives, Fair Value [Line Items] | |||||
Notional Amount of Derivatives | $ 47,463,998 | $ 13,806,767 | |||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 46,081 | 23,341 | |||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 87,774 | 21,379 | |||
Derivative Asset, Netting Adjustments And Cash Collateral | [2] | 233,473 | [1] | 42,424 | [3] |
Derivative Liability, Netting Adjustments And Cash Collateral | [2] | (83,698) | [1] | (16,793) | [3] |
Derivative assets | 279,554 | 65,765 | |||
Derivative liabilities | 4,076 | 4,586 | |||
Derivative, Collateral, Cash Posted And Related Accrued Interest | 331,178 | 71,246 | |||
Derivative, Collateral, Cash Received And Related Accrued Interest | 14,007 | 12,029 | |||
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Notional Amount of Derivatives | 9,428,000 | 6,207,278 | |||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 5,550 | 2,393 | |||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 85,183 | 16,810 | |||
Not Designated as Hedging Instrument, Economic Hedge [Member] | Interest Rate Swap [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Notional Amount of Derivatives | 30,617,599 | 4,322,480 | |||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 2,961 | 3,311 | |||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 1,393 | 1,904 | |||
Not Designated as Hedging Instrument, Economic Hedge [Member] | Interest Rate Swaption [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Notional Amount of Derivatives | 6,000,000 | 3,000,000 | |||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 35,298 | 15,911 | |||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 0 | 0 | |||
Not Designated as Hedging Instrument, Economic Hedge [Member] | Forward Contracts [Member] | Collateralized Mortgage Backed Securities [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Notional Amount of Derivatives | 680,000 | 131,000 | |||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 16 | 0 | |||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 652 | 2,664 | |||
Not Designated as Hedging Instrument [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Notional Amount of Derivatives | 38,035,998 | 7,599,489 | |||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 40,531 | 20,948 | |||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 2,591 | 4,569 | |||
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | Mortgage Receivable [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Notional Amount of Derivatives | 738,399 | 146,009 | |||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 2,256 | 1,726 | |||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | $ 546 | $ 1 | |||
[1] | Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. | ||||
[2] | Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions, and also cash collateral and related accrued interest held or placed by the FHLB with the same clearing agent and/or counterparty. Cash collateral posted and related accrued interest was (in thousands) $331,178 and $71,246 at September 30, 2019 and December 31, 2018 . Cash collateral received and related accrued interest was (in thousands) $14,007 and $12,029 at September 30, 2019 and December 31, 2018 . | ||||
[3] | Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. |
Derivatives and Hedging Activ_4
Derivatives and Hedging Activities Derivatives in Statement of Income and Impact on Interest (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | ||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Interest Income, Federal Home Loan Bank Advances | $ 267,537 | $ 342,138 | $ 991,077 | $ 1,009,613 | |
Interest Income, Debt Securities, Available-for-sale, Operating | 3,284 | 14,222 | 21,697 | 27,677 | |
Interest Expense, Consolidated Bonds | (260,453) | (256,014) | (823,376) | (725,221) | |
Amortization and Accretion of Hedged Items | (140) | (463) | |||
Advances [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Gain (Loss) on Derivative | [1],[2] | 8,005 | 58,315 | ||
Gain (Loss) on Hedged Item | [1],[2] | (8,799) | (56,368) | ||
Gain (Loss) on Fair Value Hedges Recognized in Net Interest Income | [1],[2],[3] | 7,643 | 15,077 | ||
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net | [1],[2] | (794) | 1,947 | ||
Available-for-sale Securities [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Gain (Loss) on Derivative | [1],[2] | 104 | 104 | ||
Gain (Loss) on Hedged Item | [1],[2] | (90) | (90) | ||
Gain (Loss) on Fair Value Hedges Recognized in Net Interest Income | [1],[2],[3] | (4) | (4) | ||
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net | [1],[2] | 14 | 14 | ||
Consolidated Obligation Bonds [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Gain (Loss) on Derivative | [1],[2] | 301 | 1,166 | ||
Gain (Loss) on Hedged Item | [1],[2] | (213) | (1,257) | ||
Gain (Loss) on Fair Value Hedges Recognized in Net Interest Income | [1],[2],[3] | (510) | (3,360) | ||
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net | [1],[2] | $ 88 | $ (91) | ||
Interest Income [Member] | Advances [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Net Interest Settlements On Fair Value Hedges | [1] | 8,115 | 33,643 | ||
Gain (Loss) on Derivative | [1] | (61,531) | (227,468) | ||
Gain (Loss) on Hedged Item | [1] | 57,287 | 220,699 | ||
Gain (Loss) on Fair Value Hedges Recognized in Earnings | [1] | 3,871 | 26,874 | ||
Interest Income [Member] | Available-for-sale Securities [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Net Interest Settlements On Fair Value Hedges | [1] | (92) | (136) | ||
Gain (Loss) on Derivative | [1] | (2,957) | (9,460) | ||
Gain (Loss) on Hedged Item | [1] | 2,925 | 9,222 | ||
Gain (Loss) on Fair Value Hedges Recognized in Earnings | [1] | (124) | (374) | ||
Interest Expense [Member] | Consolidated Obligation Bonds [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Net Interest Settlements On Fair Value Hedges | [1] | 550 | 1,102 | ||
Gain (Loss) on Derivative | [1] | (482) | 1,392 | ||
Gain (Loss) on Hedged Item | [1] | 565 | (1,434) | ||
Gain (Loss) on Fair Value Hedges Recognized in Earnings | [1] | $ 633 | $ 1,060 | ||
[1] | Includes interest rate swaps. | ||||
[2] | Prior period amounts were not conformed to new hedge accounting guidance adopted January 1, 2019. | ||||
[3] | Excludes (amortization)/accretion on closed fair value hedge relationships of (in thousands) $(140) for the three months ended September 30, 2018 and (in thousands) $(463) for the nine months ended September 30, 2018 . |
Derivatives and Hedging Activ_5
Derivatives and Hedging Activities Derivative Fair Value Hedges (Details) $ in Thousands | Sep. 30, 2019USD ($) | |
Advances [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Hedged Asset, Fair Value Hedge | $ 9,201,520 | [1] |
Hedged Asset, Active Fair Value Hedge, Cumulative Increase (Decrease) | 176,257 | |
Hedged Asset, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | 936 | |
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease) | 177,193 | |
Available-for-sale Securities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Hedged Asset, Fair Value Hedge | 134,729 | [1] |
Hedged Asset, Active Fair Value Hedge, Cumulative Increase (Decrease) | 10,229 | |
Hedged Asset, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | 0 | |
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease) | 10,229 | |
Consolidated Obligation Bonds [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Hedged Liability, Fair Value Hedge | 356,224 | [1] |
Hedged Liability, Active Fair Value Hedge, Cumulative Increase (Decrease) | 1,238 | |
Hedged Liability, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | 0 | |
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) | $ 1,238 | |
[1] | Includes only the portion of amortized cost representing the hedged items in fair value hedging relationships. |
Derivatives and Hedging Activ_6
Derivatives and Hedging Activities Derivatives in Statement of Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | ||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Gain (Loss) on Derivatives not designated as hedging instruments | $ (60,254) | $ (238,339) | |||
Derivative Instruments, Other Gain (Loss) | [1] | $ (113) | $ (134) | ||
Net (losses) gains on derivatives and hedging activities | (8,804) | (46,769) | |||
Interest Rate Swap [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net | (692) | 1,870 | |||
Gain (Loss) on Derivatives not designated as hedging instruments | (77,671) | 10,128 | (232,074) | (8,845) | |
Interest Rate Swaption [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Gain (Loss) on Derivatives not designated as hedging instruments | 19,315 | (745) | 3,815 | 4 | |
Forward Contracts [Member] | Mortgage Receivable [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Gain (Loss) on Derivatives not designated as hedging instruments | 4,785 | (2,520) | 14,004 | (7,105) | |
Forward Contracts [Member] | Collateralized Mortgage Backed Securities [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Gain (Loss) on Derivatives not designated as hedging instruments | (4,584) | 1,833 | (11,283) | 6,317 | |
Net Interest Settlements [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Gain (Loss) on Derivatives not designated as hedging instruments | (3,655) | (16,695) | (15,041) | (38,876) | |
Derivatives Not Designated As Hedging Before Price Alignment [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Gain (Loss) on Derivatives not designated as hedging instruments | (61,810) | $ (7,999) | (240,579) | $ (48,505) | |
Price Alignment Amount [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Gain (Loss) on Derivatives not designated as hedging instruments | [1] | $ 1,556 | $ 2,240 | ||
[1] | This amount is for derivatives for which variation margin is characterized as a daily settled contract. |
Derivatives and Hedging Activ_7
Derivatives and Hedging Activities Offsetting of Derivative Assets and Derivative Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | |||
Offsetting Assets [Line Items] | |||||
Derivative Asset, Netting Adjustments And Cash Collateral | [2] | $ 233,473 | [1] | $ 42,424 | [3] |
Derivative assets | 279,554 | 65,765 | |||
Derivative Liability, Netting Adjustments And Cash Collateral | [2] | (83,698) | [1] | (16,793) | [3] |
Derivative liabilities | 4,076 | 4,586 | |||
Uncleared derivatives | |||||
Offsetting Assets [Line Items] | |||||
Derivative Asset, Total Gross Amount | 39,174 | 20,284 | |||
Derivative Asset, Netting Adjustments And Cash Collateral | (39,174) | (20,250) | |||
Derivative Asset, Not Subject to Master Netting Arrangement | [4] | 2,272 | 1,726 | ||
Derivative assets | 2,272 | 1,760 | |||
Derivative Liability, Total Gross Amount | 85,837 | 13,745 | |||
Derivative Liability, Netting Adjustments And Cash Collateral | (82,959) | (11,824) | |||
Derivative Liability, Not Subject to Master Netting Arrangement | [4] | 1,198 | 2,665 | ||
Derivative liabilities | 4,076 | 4,586 | |||
Cleared derivatives | |||||
Offsetting Assets [Line Items] | |||||
Derivative Asset, Total Gross Amount | 4,635 | 1,331 | |||
Derivative Asset, Netting Adjustments And Cash Collateral | 272,647 | 62,674 | |||
Derivative Asset, Not Subject to Master Netting Arrangement | [4] | 0 | 0 | ||
Derivative assets | 277,282 | 64,005 | |||
Derivative Liability, Total Gross Amount | 739 | 4,969 | |||
Derivative Liability, Netting Adjustments And Cash Collateral | (739) | (4,969) | |||
Derivative Liability, Not Subject to Master Netting Arrangement | [4] | 0 | 0 | ||
Derivative liabilities | $ 0 | $ 0 | |||
[1] | Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. | ||||
[2] | Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions, and also cash collateral and related accrued interest held or placed by the FHLB with the same clearing agent and/or counterparty. Cash collateral posted and related accrued interest was (in thousands) $331,178 and $71,246 at September 30, 2019 and December 31, 2018 . Cash collateral received and related accrued interest was (in thousands) $14,007 and $12,029 at September 30, 2019 and December 31, 2018 . | ||||
[3] | Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. | ||||
[4] | Represents mortgage delivery commitments and forward rate agreements that are not subject to an enforceable netting agreement. |
Deposits Deposits (Details)
Deposits Deposits (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Deposits [Abstract] | ||
Interest bearing, demand and overnight | $ 791,894 | $ 605,979 |
Interest bearing, term | 37,600 | 51,600 |
Interest bearing, other | 9,074 | 4,959 |
Total interest-bearing | 838,568 | 662,538 |
Non-interest bearing, other | 8,452 | 6,478 |
Total non-interest bearing | 8,452 | 6,478 |
Total deposits | $ 847,020 | $ 669,016 |
Consolidated Obligations (Detai
Consolidated Obligations (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | |
Schedule of Short-term and Long-term Debt [Line Items] | |||
Discount Notes | $ 49,553,251 | $ 46,943,632 | |
Consolidated Obligations Bonds Total | 44,590,325 | 45,659,138 | |
Consolidated Obligation Bonds [Member] | |||
Schedule of Short-term and Long-term Debt [Line Items] | |||
Debt, Maturities, Repayments of Principal in Twelve Months | 22,924,065 | 21,085,800 | |
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Two | 8,300,500 | 6,998,565 | |
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Three | 4,412,015 | 6,829,595 | |
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Four | 2,564,465 | 2,958,620 | |
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Five | 2,211,795 | 3,248,975 | |
Long-term Debt, Maturities, Repayments of Principal in Rolling after Year Five | 4,109,730 | 4,525,635 | |
Debt, Gross | 44,522,570 | 45,647,190 | |
Debt Instrument, Unamortized Premium | 69,351 | 75,809 | |
Debt Instrument, Unamortized Discount | (25,257) | (29,275) | |
Debt Valuation Adjustment for Hedging Activities | 1,238 | (196) | |
Fair value option valuation adjustment and accrued interest | 22,423 | (34,390) | |
Consolidated Obligations Bonds Total | $ 44,590,325 | $ 45,659,138 | |
Debt, Maturities, Repayments of Principal in Next Twelve Months, Weighted Average Interest Rate | 1.96% | 2.20% | |
Long-term Debt, Maturities, Repayments of Principal in Year Two, Weighted Average Interest Rate | 1.97% | 2.13% | |
Long-term Debt, Maturities, Repayments of Principal in Year Three, Weighted Average Interest Rate | 2.39% | 2.05% | |
Long-term Debt, Maturities, Repayments of Principal in Year Four, Weighted Average Interest Rate | 2.60% | 2.39% | |
Long-term Debt, Maturities, Repayments of Principal in Year Five, Weighted Average Interest Rate | 2.74% | 2.63% | |
Long-term Debt, Maturities, Repayments of Principal After Year Five, Weighted Average Interest Rate | 2.96% | 2.94% | |
Long-term Debt, Weighted Average Interest Rate, at Point in Time | 2.17% | 2.29% | |
Consolidated Obligation Bonds [Member] | Fixed-rate [Member] | |||
Schedule of Short-term and Long-term Debt [Line Items] | |||
Debt, Gross | $ 28,618,570 | $ 29,837,190 | |
Consolidated Obligation Bonds [Member] | Variable-rate [Member] | |||
Schedule of Short-term and Long-term Debt [Line Items] | |||
Debt, Gross | 15,904,000 | 15,470,000 | |
Consolidated Obligation Bonds [Member] | Step-up [Member] | |||
Schedule of Short-term and Long-term Debt [Line Items] | |||
Debt, Gross | 0 | 340,000 | |
Consolidated Obligation Bonds [Member] | Earlier of Contractual Maturity or Next Call Date [Member] | |||
Schedule of Short-term and Long-term Debt [Line Items] | |||
Debt, Maturities, Repayments of Principal in Twelve Months | 27,905,065 | 27,173,800 | |
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Two | 6,690,500 | 5,773,565 | |
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Three | 3,542,015 | 5,060,595 | |
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Four | 1,979,465 | 2,470,620 | |
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Five | 1,699,795 | 2,231,975 | |
Long-term Debt, Maturities, Repayments of Principal in Rolling after Year Five | 2,705,730 | 2,936,635 | |
Consolidated Obligation Bonds [Member] | Non Callable [Member] | |||
Schedule of Short-term and Long-term Debt [Line Items] | |||
Debt, Gross | 38,329,570 | 38,539,190 | |
Consolidated Obligation Bonds [Member] | Callable [Member] | |||
Schedule of Short-term and Long-term Debt [Line Items] | |||
Debt, Gross | 6,193,000 | 7,108,000 | |
Discount Notes [Member] | |||
Schedule of Short-term and Long-term Debt [Line Items] | |||
Debt Instrument, Face Amount | $ 49,639,893 | $ 47,071,113 | |
Short-term Debt, Weighted Average Interest Rate, at Point in Time | [1] | 1.99% | 2.35% |
[1] | Represents an implied rate without consideration of concessions. |
Affordable Housing Program (A_3
Affordable Housing Program (AHP) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Affordable Housing Program [Roll Forward] | ||||
AHP Obligation, Beginning Balance | $ 117,336 | |||
AHP, Expense (Current Year Additions) | $ 6,995 | $ 10,224 | 22,342 | $ 28,936 |
AHP, Subsidy Uses, Net | (25,390) | $ (25,365) | ||
AHP Obligation, Ending Balance | $ 114,288 | $ 114,288 |
Capital Narrative (Details)
Capital Narrative (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Capital [Abstract] | ||
Retained Earnings, Appropriated | $ 430,864 | $ 390,829 |
Capital (Details)
Capital (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Capital [Abstract] | ||
Risk Based Capital Required | $ 722,256 | $ 837,666 |
Risk Based Capital Actual | $ 4,677,807 | $ 5,366,443 |
Regulatory Capital Ratio, Actual | 4.67% | 5.41% |
Regulatory Capital, Required | $ 4,008,442 | $ 3,968,103 |
Regulatory Capital, Actual | $ 4,677,807 | $ 5,366,443 |
Leverage Ratio, Actual | 7.00% | 8.11% |
Leverage Capital, Required | $ 5,010,552 | $ 4,960,129 |
Leverage Capital, Actual | $ 7,016,711 | $ 8,049,665 |
Capital (Mandatorily Redeemable
Capital (Mandatorily Redeemable Capital Stock) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Mandatorily Redeemable Capital Stock [Roll Forward] | ||
Balance at beginning period | $ 23,184 | |
Shares Reclassified to Mandatorily Redeemable Capital Stock, Value | 7,671 | |
Repayments of Mandatory Redeemable Capital Securities | (5,243) | $ (13,106) |
Balance at end of period | $ 25,612 |
Capital (Mandatorily Redeemab_2
Capital (Mandatorily Redeemable Capital Stock by Contractual Year of Redemption) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | |
Capital [Abstract] | |||
Due in 1 year or less | $ 351 | $ 1,633 | |
Due after 1 year through 2 years | 202 | 371 | |
Due after 2 years through 3 years | 1,249 | 357 | |
Due after 3 years through 4 years | 1,531 | 1,209 | |
Due after 4 years through 5 years | 6,712 | 3,553 | |
Financial Instruments Subject to Mandatory Redemption, Redeemable After Year Five | [1] | 650 | 624 |
Past contractual redemption date due to remaining activity | [2] | 14,917 | 15,437 |
Total par value | $ 25,612 | $ 23,184 | |
[1] | Represents mandatorily redeemable capital stock resulting from a Finance Agency rule effective February 19, 2016, that made captive insurance companies ineligible for FHLB membership. Captive insurance companies that were admitted as FHLB members prior to September 12, 2014, will have their membership terminated no later than February 19, 2021. Captive insurance companies that were admitted as FHLB members on or after September 12, 2014, had their membership terminated no later than February 19, 2017. The related mandatorily redeemable capital stock is not required to be redeemed until five years after the member's termination. | ||
[2] | Represents mandatorily redeemable capital stock that is past the end of the contractual redemption period because there is activity outstanding to which the mandatorily redeemable capital stock relates. |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Beginning balance | $ 4,831,113 | $ 5,507,475 | $ 5,330,216 | $ 5,164,513 |
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, before Tax | (192) | (101) | (442) | 243 |
Total other comprehensive income (loss) adjustments | 267 | 576 | 934 | 1,893 |
Ending balance | 4,640,086 | 5,234,639 | 4,640,086 | 5,234,639 |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Available-for-sale Securities [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Beginning balance | (360) | 220 | (110) | (124) |
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, before Tax | (192) | (101) | (442) | 243 |
Amortization - Pension and postretirement benefits | 0 | 0 | 0 | 0 |
Total other comprehensive income (loss) adjustments | (192) | (101) | (442) | 243 |
Ending balance | (552) | 119 | (552) | 119 |
Accumulated Defined Benefit Plans Adjustment [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Beginning balance | (12,016) | (15,563) | (12,933) | (16,536) |
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, before Tax | 0 | 0 | 0 | 0 |
Amortization - Pension and postretirement benefits | 459 | 677 | 1,376 | 1,650 |
Total other comprehensive income (loss) adjustments | 459 | 677 | 1,376 | 1,650 |
Ending balance | (11,557) | (14,886) | (11,557) | (14,886) |
Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Beginning balance | (12,376) | (15,343) | (13,043) | (16,660) |
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, before Tax | (192) | (101) | (442) | 243 |
Amortization - Pension and postretirement benefits | 459 | 677 | 1,376 | 1,650 |
Total other comprehensive income (loss) adjustments | 267 | 576 | 934 | 1,893 |
Ending balance | $ (12,109) | $ (14,767) | $ (12,109) | $ (14,767) |
Pension and Postretirement Be_3
Pension and Postretirement Benefit Plans Narrative (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Contribution Plan, Cost | $ 252,000 | $ 240,000 | $ 1,058,000 | $ 1,007,000 |
Pentegra Defined Benefit Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | $ 1,485,000 | $ 1,250,000 | $ 5,422,000 | $ 6,301,000 |
Pension and Postretirement Be_4
Pension and Postretirement Benefit Plans Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible List] | us-gaap:OtherNoninterestExpense | |||
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible List] | us-gaap:OtherNoninterestExpense | |||
Supplemental Employee Retirement Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Service Cost | $ 225 | $ 294 | $ 676 | $ 847 |
Defined Benefit Plan, Interest Cost | 388 | 352 | 1,163 | 1,015 |
Defined Benefit Plan, Amortization of Gain (Loss) | 459 | 677 | 1,376 | 1,650 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | 1,072 | 1,323 | 3,215 | 3,512 |
Other Postretirement Benefits Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Service Cost | 3 | 6 | 10 | 15 |
Defined Benefit Plan, Interest Cost | 46 | 41 | 136 | 124 |
Defined Benefit Plan, Amortization of Gain (Loss) | 0 | 0 | 0 | 0 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | $ 49 | $ 47 | $ 146 | $ 139 |
Segment Information Financial P
Segment Information Financial Performance (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($)Segment | Sep. 30, 2018USD ($) | |
Segment Reporting Information [Line Items] | ||||
Number of Operating Segments | Segment | 2 | |||
Net interest income | $ 87,239 | $ 130,160 | $ 306,925 | $ 377,411 |
Non-interest income (loss) | 4,294 | (8,923) | (16,764) | (25,589) |
Non-interest expense | 21,843 | 19,408 | 67,644 | 63,673 |
Income before assessments | 69,690 | 101,829 | 222,517 | 288,149 |
Affordable Housing Program assessments | 6,995 | 10,224 | 22,342 | 28,936 |
Net income | 62,695 | 91,605 | 200,175 | 259,213 |
Traditional Member Finance [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 65,146 | 102,279 | 226,254 | 299,006 |
Non-interest income (loss) | (8,242) | (7,805) | (22,306) | (24,732) |
Non-interest expense | 19,166 | 16,957 | 59,158 | 55,202 |
Income before assessments | 37,738 | 77,517 | 144,790 | 219,072 |
Affordable Housing Program assessments | 3,800 | 7,793 | 14,569 | 22,028 |
Net income | 33,938 | 69,724 | 130,221 | 197,044 |
Mortgage Purchase Program [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 22,093 | 27,881 | 80,671 | 78,405 |
Non-interest income (loss) | 12,536 | (1,118) | 5,542 | (857) |
Non-interest expense | 2,677 | 2,451 | 8,486 | 8,471 |
Income before assessments | 31,952 | 24,312 | 77,727 | 69,077 |
Affordable Housing Program assessments | 3,195 | 2,431 | 7,773 | 6,908 |
Net income | $ 28,757 | $ 21,881 | $ 69,954 | $ 62,169 |
Segment Information Asset Balan
Segment Information Asset Balances (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Segment Reporting Information [Line Items] | ||
Total assets | $ 100,211,042 | $ 99,202,573 |
Traditional Member Finance [Member] | ||
Segment Reporting Information [Line Items] | ||
Total assets | 87,706,932 | 86,042,150 |
Mortgage Purchase Program [Member] | ||
Segment Reporting Information [Line Items] | ||
Total assets | $ 12,504,110 | $ 13,160,423 |
Fair Value Disclosures Fair V_2
Fair Value Disclosures Fair Value Summary (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | |||
Assets | |||||
Cash and Due from Banks | $ 15,417 | $ 10,037 | |||
Trading securities | 11,416,483 | 223,980 | |||
Available-for-sale securities | 434,177 | 2,402,897 | |||
Debt Securities, Held-to-maturity | [1] | 14,070,879 | 15,791,222 | ||
Debt Securities, Held-to-maturity, Fair Value | 14,082,525 | 15,575,368 | |||
Accrued interest receivable | 204,910 | 169,982 | |||
Derivative assets | 279,554 | 65,765 | |||
Derivative Asset, Netting Adjustments And Cash Collateral | [3] | 233,473 | [2] | 42,424 | [4] |
Advances, Fair Value Disclosure | [5] | 10,267 | 10,008 | ||
Liabilities | |||||
Mandatorily redeemable capital stock | 25,612 | 23,184 | |||
Accrued Interest Payable, Fair Value Disclosure | 144,699 | 147,337 | |||
Derivative liabilities | 4,076 | 4,586 | |||
Derivative Liability, Netting Adjustments And Cash Collateral | [3] | (83,698) | [2] | (16,793) | [4] |
Consolidated Obligation Bonds [Member] | |||||
Liabilities | |||||
Consolidated Obligations, Bonds | 5,436,423 | 3,906,610 | |||
Discount Notes [Member] | |||||
Liabilities | |||||
Consolidated Obligations, Discount Notes | 13,914,315 | 0 | |||
Fair Value, Inputs, Level 1 [Member] | |||||
Assets | |||||
Cash and Due from Banks | 15,417 | 10,037 | |||
Interest-bearing deposits | 0 | 0 | |||
Securities purchased under resale agreements | 0 | 0 | |||
Federal funds sold | 0 | 0 | |||
Trading securities | 0 | 0 | |||
Available-for-sale securities | 0 | 0 | |||
Debt Securities, Held-to-maturity, Fair Value | 0 | 0 | |||
Advances | 0 | [6] | 0 | [7] | |
Mortgage loans held for portfolio, net | 0 | 0 | |||
Accrued interest receivable | 0 | 0 | |||
Derivative assets | 0 | 0 | |||
Liabilities | |||||
Deposits | 0 | 0 | |||
Mandatorily redeemable capital stock | 25,612 | 23,184 | |||
Accrued Interest Payable, Fair Value Disclosure | 0 | 0 | |||
Derivative liabilities | 0 | 0 | |||
Fair Value, Inputs, Level 1 [Member] | Financial Standby Letter of Credit [Member] | |||||
Other [Abstract] | |||||
Commitments, Fair Value Disclosure | 0 | 0 | |||
Fair Value, Inputs, Level 1 [Member] | Consolidated Obligation Bonds [Member] | |||||
Liabilities | |||||
Consolidated Obligations, Bonds | 0 | [8] | 0 | [9] | |
Fair Value, Inputs, Level 1 [Member] | Discount Notes [Member] | |||||
Liabilities | |||||
Consolidated Obligations, Discount Notes | 0 | [10] | 0 | ||
Fair Value, Inputs, Level 2 [Member] | |||||
Assets | |||||
Cash and Due from Banks | 0 | 0 | |||
Interest-bearing deposits | 599,201 | 122 | |||
Securities purchased under resale agreements | 1,839,586 | 4,402,237 | |||
Federal funds sold | 14,082,000 | 10,793,000 | |||
Trading securities | 11,416,483 | 223,980 | |||
Available-for-sale securities | 434,177 | 2,402,897 | |||
Debt Securities, Held-to-maturity, Fair Value | 14,082,525 | 15,575,368 | |||
Advances | 46,426,913 | [6] | 54,736,645 | [7] | |
Mortgage loans held for portfolio, net | 11,071,158 | 10,317,010 | |||
Accrued interest receivable | 204,910 | 169,982 | |||
Derivative assets | 46,081 | 23,341 | |||
Liabilities | |||||
Deposits | 847,109 | 668,947 | |||
Mandatorily redeemable capital stock | 0 | 0 | |||
Accrued Interest Payable, Fair Value Disclosure | 144,699 | 147,337 | |||
Derivative liabilities | 87,774 | 21,379 | |||
Fair Value, Inputs, Level 2 [Member] | Financial Standby Letter of Credit [Member] | |||||
Other [Abstract] | |||||
Commitments, Fair Value Disclosure | 405 | 443 | |||
Fair Value, Inputs, Level 2 [Member] | Consolidated Obligation Bonds [Member] | |||||
Liabilities | |||||
Consolidated Obligations, Bonds | 45,032,831 | [8] | 45,385,615 | [9] | |
Fair Value, Inputs, Level 2 [Member] | Discount Notes [Member] | |||||
Liabilities | |||||
Consolidated Obligations, Discount Notes | 49,558,074 | [10] | 46,944,523 | ||
Fair Value, Inputs, Level 3 [Member] | |||||
Assets | |||||
Cash and Due from Banks | 0 | 0 | |||
Interest-bearing deposits | 0 | 0 | |||
Securities purchased under resale agreements | 0 | 0 | |||
Federal funds sold | 0 | 0 | |||
Trading securities | 0 | 0 | |||
Available-for-sale securities | 0 | 0 | |||
Debt Securities, Held-to-maturity, Fair Value | 0 | 0 | |||
Advances | 0 | [6] | 0 | [7] | |
Mortgage loans held for portfolio, net | 11,141 | 12,972 | |||
Accrued interest receivable | 0 | 0 | |||
Derivative assets | 0 | 0 | |||
Liabilities | |||||
Deposits | 0 | 0 | |||
Mandatorily redeemable capital stock | 0 | 0 | |||
Accrued Interest Payable, Fair Value Disclosure | 0 | 0 | |||
Derivative liabilities | 0 | 0 | |||
Fair Value, Inputs, Level 3 [Member] | Financial Standby Letter of Credit [Member] | |||||
Other [Abstract] | |||||
Commitments, Fair Value Disclosure | 0 | 0 | |||
Fair Value, Inputs, Level 3 [Member] | Consolidated Obligation Bonds [Member] | |||||
Liabilities | |||||
Consolidated Obligations, Bonds | 0 | [8] | 0 | [9] | |
Fair Value, Inputs, Level 3 [Member] | Discount Notes [Member] | |||||
Liabilities | |||||
Consolidated Obligations, Discount Notes | 0 | [10] | 0 | ||
Carrying Value | |||||
Assets | |||||
Cash and Due from Banks | 15,417 | 10,037 | |||
Interest-bearing deposits | 599,201 | 122 | |||
Securities purchased under resale agreements | 1,839,576 | 4,402,208 | |||
Federal funds sold | 14,082,000 | 10,793,000 | |||
Trading securities | 11,416,483 | 223,980 | |||
Available-for-sale securities | 434,177 | 2,402,897 | |||
Debt Securities, Held-to-maturity | 14,070,879 | 15,791,222 | |||
Advances | 46,358,204 | [6] | 54,822,252 | [7] | |
Mortgage loans held for portfolio, net | 10,883,590 | 10,500,917 | |||
Accrued interest receivable | 204,910 | 169,982 | |||
Derivative assets | 279,554 | 65,765 | |||
Liabilities | |||||
Deposits | 847,020 | 669,016 | |||
Mandatorily redeemable capital stock | 25,612 | 23,184 | |||
Accrued Interest Payable, Fair Value Disclosure | 144,699 | 147,337 | |||
Derivative liabilities | 4,076 | 4,586 | |||
Carrying Value | Financial Standby Letter of Credit [Member] | |||||
Other [Abstract] | |||||
Commitments, Fair Value Disclosure | 0 | 0 | |||
Carrying Value | Consolidated Obligation Bonds [Member] | |||||
Liabilities | |||||
Consolidated Obligations, Bonds | 44,590,325 | [8] | 45,659,138 | [9] | |
Carrying Value | Discount Notes [Member] | |||||
Liabilities | |||||
Consolidated Obligations, Discount Notes | 49,553,251 | [10] | 46,943,632 | ||
Fair Value | |||||
Assets | |||||
Cash and Due from Banks | 15,417 | 10,037 | |||
Interest-bearing deposits | 599,201 | 122 | |||
Securities purchased under resale agreements | 1,839,586 | 4,402,237 | |||
Federal funds sold | 14,082,000 | 10,793,000 | |||
Trading securities | 11,416,483 | 223,980 | |||
Available-for-sale securities | 434,177 | 2,402,897 | |||
Debt Securities, Held-to-maturity, Fair Value | 14,082,525 | 15,575,368 | |||
Advances | 46,426,913 | [6] | 54,736,645 | [7] | |
Mortgage loans held for portfolio, net | 11,082,299 | 10,329,982 | |||
Accrued interest receivable | 204,910 | 169,982 | |||
Derivative assets | 279,554 | 65,765 | |||
Liabilities | |||||
Deposits | 847,109 | 668,947 | |||
Mandatorily redeemable capital stock | 25,612 | 23,184 | |||
Accrued Interest Payable, Fair Value Disclosure | 144,699 | 147,337 | |||
Derivative liabilities | 4,076 | 4,586 | |||
Fair Value | Financial Standby Letter of Credit [Member] | |||||
Other [Abstract] | |||||
Commitments, Fair Value Disclosure | 405 | 443 | |||
Fair Value | Consolidated Obligation Bonds [Member] | |||||
Liabilities | |||||
Consolidated Obligations, Bonds | 45,032,831 | [8] | 45,385,615 | [9] | |
Fair Value | Discount Notes [Member] | |||||
Liabilities | |||||
Consolidated Obligations, Discount Notes | $ 49,558,074 | [10] | $ 46,944,523 | ||
[1] | Fair values: $14,082,525 and $15,575,368 at September 30, 2019 and December 31, 2018 , respectively. | ||||
[2] | Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. | ||||
[3] | Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions, and also cash collateral and related accrued interest held or placed by the FHLB with the same clearing agent and/or counterparty. Cash collateral posted and related accrued interest was (in thousands) $331,178 and $71,246 at September 30, 2019 and December 31, 2018 . Cash collateral received and related accrued interest was (in thousands) $14,007 and $12,029 at September 30, 2019 and December 31, 2018 . | ||||
[4] | Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. | ||||
[5] | At September 30, 2019 and December 31, 2018 , none of the Advances were 90 days or more past due or had been placed on non-accrual status. | ||||
[6] | Includes (in thousands) $10,267 of Advances recorded under the fair value option at September 30, 2019 . | ||||
[7] | Includes (in thousands) $10,008 of Advances recorded under the fair value option at December 31, 2018 . | ||||
[8] | Includes (in thousands) $5,436,423 of Consolidated Obligation Bonds recorded under the fair value option at September 30, 2019 . | ||||
[9] | Includes (in thousands) $3,906,610 of Consolidated Obligation Bonds recorded under the fair value option at December 31, 2018 . | ||||
[10] | Includes (in thousands) $13,914,315 of Consolidated Obligation Discount Notes recorded under the fair value option at September 30, 2019 . |
Fair Value Disclosures Fair V_3
Fair Value Disclosures Fair Value Measured on a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | $ 11,416,483 | $ 223,980 | |||
Available-for-sale securities | 434,177 | 2,402,897 | |||
Advances, Fair Value Disclosure | [1] | 10,267 | 10,008 | ||
Derivative assets | 279,554 | 65,765 | |||
Derivative Asset, Netting Adjustments And Cash Collateral | [3] | 233,473 | [2] | 42,424 | [4] |
Derivative liabilities | 4,076 | 4,586 | |||
Derivative Liability, Netting Adjustments And Cash Collateral | [3] | (83,698) | [2] | (16,793) | [4] |
Consolidated Obligation Bonds [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Consolidated Obligations, Bonds | 5,436,423 | 3,906,610 | |||
Discount Notes [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Consolidated Obligations, Discount Notes | 13,914,315 | 0 | |||
US Treasury Securities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 9,386,559 | 0 | |||
US Government-sponsored Enterprises Debt Securities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 2,029,426 | 223,368 | |||
Available-for-sale securities | 134,174 | 52,895 | |||
Single Family, Mortgage-backed Securities, Other US Obligations [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 498 | 612 | |||
Certificates of Deposit [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale securities | 300,003 | 2,350,002 | |||
Fair Value, Measurements, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Advances, Fair Value Disclosure | 10,267 | 10,008 | |||
Derivative Asset, Netting Adjustments And Cash Collateral | 233,473 | [5] | 42,424 | [6] | |
Federal Home Loan Bank, Consolidated Obligations Fair Value Disclosure | 19,350,738 | ||||
Derivative Liability, Netting Adjustments And Cash Collateral | (83,698) | [5] | (16,793) | [6] | |
Fair Value, Measurements, Recurring [Member] | Consolidated Obligation Bonds [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Consolidated Obligations, Bonds | 5,436,423 | 3,906,610 | |||
Fair Value, Measurements, Recurring [Member] | Discount Notes [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Consolidated Obligations, Discount Notes | 13,914,315 | ||||
Fair Value, Measurements, Recurring [Member] | Interest Rate Contract [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative Asset, Netting Adjustments And Cash Collateral | 233,473 | [5] | 42,424 | [6] | |
Derivative Liability, Netting Adjustments And Cash Collateral | (83,698) | [5] | (16,793) | [6] | |
Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 0 | 0 | |||
Available-for-sale securities | 0 | 0 | |||
Derivative assets | 0 | 0 | |||
Derivative liabilities | 0 | 0 | |||
Mortgage loans held for portfolio, net | 0 | 0 | |||
Fair Value, Inputs, Level 1 [Member] | Consolidated Obligation Bonds [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Consolidated Obligations, Bonds | 0 | [7] | 0 | [8] | |
Fair Value, Inputs, Level 1 [Member] | Discount Notes [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Consolidated Obligations, Discount Notes | 0 | [9] | 0 | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 0 | 0 | |||
Available-for-sale securities | 0 | 0 | |||
Advances, Fair Value Disclosure | 0 | 0 | |||
Derivative assets | 0 | 0 | |||
Total assests at fair value | 0 | 0 | |||
Federal Home Loan Bank, Consolidated Obligations Fair Value Disclosure | 0 | ||||
Derivative liabilities | 0 | 0 | |||
Total liabilities at fair value | 0 | 0 | |||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Consolidated Obligation Bonds [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Consolidated Obligations, Bonds | 0 | 0 | |||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Discount Notes [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Consolidated Obligations, Discount Notes | 0 | ||||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Interest Rate Contract [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 0 | 0 | |||
Derivative liabilities | 0 | 0 | |||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Forward Contracts [Member] | Mortgage Receivable [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 0 | 0 | |||
Derivative liabilities | 0 | 0 | |||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Forward Contracts [Member] | Collateralized Mortgage Backed Securities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 0 | ||||
Derivative liabilities | 0 | 0 | |||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | US Treasury Securities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 0 | ||||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 0 | 0 | |||
Available-for-sale securities | 0 | 0 | |||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Single Family, Mortgage-backed Securities, Other US Obligations [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 0 | 0 | |||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Certificates of Deposit [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale securities | 0 | 0 | |||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Mortgage loans held for portfolio, net | [10] | 0 | |||
Fair Value, Inputs, Level 2 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 11,416,483 | 223,980 | |||
Available-for-sale securities | 434,177 | 2,402,897 | |||
Derivative assets | 46,081 | 23,341 | |||
Derivative liabilities | 87,774 | 21,379 | |||
Mortgage loans held for portfolio, net | 11,071,158 | 10,317,010 | |||
Fair Value, Inputs, Level 2 [Member] | Consolidated Obligation Bonds [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Consolidated Obligations, Bonds | 45,032,831 | [7] | 45,385,615 | [8] | |
Fair Value, Inputs, Level 2 [Member] | Discount Notes [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Consolidated Obligations, Discount Notes | 49,558,074 | [9] | 46,944,523 | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 11,416,483 | 223,980 | |||
Available-for-sale securities | 434,177 | 2,402,897 | |||
Advances, Fair Value Disclosure | 10,267 | 10,008 | |||
Derivative assets | 46,081 | 23,341 | |||
Total assests at fair value | 11,907,008 | 2,660,226 | |||
Federal Home Loan Bank, Consolidated Obligations Fair Value Disclosure | 19,350,738 | ||||
Derivative liabilities | 87,774 | 21,379 | |||
Total liabilities at fair value | 19,438,512 | 3,927,989 | |||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Consolidated Obligation Bonds [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Consolidated Obligations, Bonds | 5,436,423 | 3,906,610 | |||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Discount Notes [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Consolidated Obligations, Discount Notes | 13,914,315 | ||||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Interest Rate Contract [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 43,809 | 21,615 | |||
Derivative liabilities | 86,576 | 18,714 | |||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Forward Contracts [Member] | Mortgage Receivable [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 2,256 | 1,726 | |||
Derivative liabilities | 546 | 1 | |||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Forward Contracts [Member] | Collateralized Mortgage Backed Securities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 16 | ||||
Derivative liabilities | 652 | 2,664 | |||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | US Treasury Securities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 9,386,559 | ||||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 2,029,426 | 223,368 | |||
Available-for-sale securities | 134,174 | 52,895 | |||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Single Family, Mortgage-backed Securities, Other US Obligations [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 498 | 612 | |||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Certificates of Deposit [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale securities | 300,003 | 2,350,002 | |||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Mortgage loans held for portfolio, net | [10] | 0 | |||
Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 0 | 0 | |||
Available-for-sale securities | 0 | 0 | |||
Derivative assets | 0 | 0 | |||
Derivative liabilities | 0 | 0 | |||
Mortgage loans held for portfolio, net | 11,141 | 12,972 | |||
Fair Value, Inputs, Level 3 [Member] | Consolidated Obligation Bonds [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Consolidated Obligations, Bonds | 0 | [7] | 0 | [8] | |
Fair Value, Inputs, Level 3 [Member] | Discount Notes [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Consolidated Obligations, Discount Notes | 0 | [9] | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 0 | 0 | |||
Available-for-sale securities | 0 | 0 | |||
Advances, Fair Value Disclosure | 0 | 0 | |||
Derivative assets | 0 | 0 | |||
Total assests at fair value | 0 | 0 | |||
Federal Home Loan Bank, Consolidated Obligations Fair Value Disclosure | 0 | ||||
Derivative liabilities | 0 | 0 | |||
Total liabilities at fair value | 0 | 0 | |||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Consolidated Obligation Bonds [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Consolidated Obligations, Bonds | 0 | 0 | |||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Discount Notes [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Consolidated Obligations, Discount Notes | 0 | ||||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Interest Rate Contract [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 0 | 0 | |||
Derivative liabilities | 0 | 0 | |||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Forward Contracts [Member] | Mortgage Receivable [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 0 | 0 | |||
Derivative liabilities | 0 | 0 | |||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Forward Contracts [Member] | Collateralized Mortgage Backed Securities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 0 | ||||
Derivative liabilities | 0 | 0 | |||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | US Treasury Securities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 0 | ||||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 0 | 0 | |||
Available-for-sale securities | 0 | 0 | |||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Single Family, Mortgage-backed Securities, Other US Obligations [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 0 | 0 | |||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Certificates of Deposit [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale securities | 0 | 0 | |||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Mortgage loans held for portfolio, net | [10] | 311 | |||
Fair Value | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 11,416,483 | 223,980 | |||
Available-for-sale securities | 434,177 | 2,402,897 | |||
Derivative assets | 279,554 | 65,765 | |||
Derivative liabilities | 4,076 | 4,586 | |||
Mortgage loans held for portfolio, net | 11,082,299 | 10,329,982 | |||
Fair Value | Consolidated Obligation Bonds [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Consolidated Obligations, Bonds | 45,032,831 | [7] | 45,385,615 | [8] | |
Fair Value | Discount Notes [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Consolidated Obligations, Discount Notes | 49,558,074 | [9] | 46,944,523 | ||
Fair Value | Fair Value, Measurements, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 11,416,483 | 223,980 | |||
Available-for-sale securities | 434,177 | 2,402,897 | |||
Derivative assets | 279,554 | 65,765 | |||
Total assests at fair value | 12,140,481 | 2,702,650 | |||
Derivative liabilities | 4,076 | 4,586 | |||
Total liabilities at fair value | 19,354,814 | 3,911,196 | |||
Fair Value | Fair Value, Measurements, Recurring [Member] | Interest Rate Contract [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 277,282 | 64,039 | |||
Derivative liabilities | 2,878 | 1,921 | |||
Fair Value | Fair Value, Measurements, Recurring [Member] | Forward Contracts [Member] | Mortgage Receivable [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 2,256 | 1,726 | |||
Derivative liabilities | 546 | 1 | |||
Fair Value | Fair Value, Measurements, Recurring [Member] | Forward Contracts [Member] | Collateralized Mortgage Backed Securities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 16 | ||||
Derivative liabilities | 652 | 2,664 | |||
Fair Value | Fair Value, Measurements, Recurring [Member] | US Treasury Securities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 9,386,559 | ||||
Fair Value | Fair Value, Measurements, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 2,029,426 | 223,368 | |||
Available-for-sale securities | 134,174 | 52,895 | |||
Fair Value | Fair Value, Measurements, Recurring [Member] | Single Family, Mortgage-backed Securities, Other US Obligations [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Trading securities | 498 | 612 | |||
Fair Value | Fair Value, Measurements, Recurring [Member] | Certificates of Deposit [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale securities | $ 300,003 | 2,350,002 | |||
Fair Value | Fair Value, Measurements, Nonrecurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Mortgage loans held for portfolio, net | [10] | $ 311 | |||
[1] | At September 30, 2019 and December 31, 2018 , none of the Advances were 90 days or more past due or had been placed on non-accrual status. | ||||
[2] | Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. | ||||
[3] | Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions, and also cash collateral and related accrued interest held or placed by the FHLB with the same clearing agent and/or counterparty. Cash collateral posted and related accrued interest was (in thousands) $331,178 and $71,246 at September 30, 2019 and December 31, 2018 . Cash collateral received and related accrued interest was (in thousands) $14,007 and $12,029 at September 30, 2019 and December 31, 2018 . | ||||
[4] | Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. | ||||
[5] | Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. | ||||
[6] | Amounts represent the application of the netting requirements that allow the FHLB to settle positive and negative positions and also cash collateral and related accrued interest held or placed by the FHLB with the same counterparty. | ||||
[7] | Includes (in thousands) $5,436,423 of Consolidated Obligation Bonds recorded under the fair value option at September 30, 2019 . | ||||
[8] | Includes (in thousands) $3,906,610 of Consolidated Obligation Bonds recorded under the fair value option at December 31, 2018 . | ||||
[9] | Includes (in thousands) $13,914,315 of Consolidated Obligation Discount Notes recorded under the fair value option at September 30, 2019 . | ||||
[10] | The fair value information presented is as of the date the fair value adjustment was recorded during the year ended December 31, 2018 . |
Fair Value Disclosures Fair V_4
Fair Value Disclosures Fair Value Impact on Financial Performance (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | $ (8,681,000) | $ (3,607,000) | $ (50,615,000) | $ 12,224,000 |
Other Comprehensive Income (Loss), Financial Liability, Fair Value Option, Unrealized Gain (Loss) Arising During Period, before Tax | 0 | |||
Advances [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 53,000 | (46,000) | 259,000 | (76,000) |
Discount Notes [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | (2,449,000) | 0 | (2,449,000) | 0 |
Consolidated Obligation Bonds [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | $ (6,285,000) | $ (3,561,000) | $ (48,425,000) | $ 12,300,000 |
Fair Value Disclosures Fair V_5
Fair Value Disclosures Fair Value Difference Between Fair Value and Remaining Contractual Principal Balance Outstanding (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | |
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Federal Home Loan Bank, Advances, Par Value | [1] | $ 10,000 | $ 10,000 |
Advances, Fair Value Disclosure | [1] | 10,267 | 10,008 |
Federal Home Loan Bank, Advances, Valuation Adjustments under Fair Value Option | [1] | 267 | 8 |
Consolidated Obligation Bonds [Member] | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Fair Value Option, Principle Balance, Consolidated Obligation Bonds | 5,414,000 | 3,941,000 | |
Consolidated Obligations, Bonds, Fair Value | 5,436,423 | 3,906,610 | |
Fair Value Option, Aggregate Differences, Consolidated Obligations Bonds | 22,423 | (34,390) | |
Discount Notes [Member] | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Fair Value Option, Principal Balance, Consolidated Obligation Discount Notes | 13,936,995 | 0 | |
Consolidated Obligations, Discount Notes, Fair Value | 13,914,315 | 0 | |
Fair Value Option, Aggregate Differences, Consolidated Obligation Discount Notes | $ (22,680) | $ 0 | |
[1] | At September 30, 2019 and December 31, 2018 , none of the Advances were 90 days or more past due or had been placed on non-accrual status. |
Commitments and Contingencies_2
Commitments and Contingencies (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | |
Standby Letters of Credit [Member] | |||
Loss Contingencies [Line Items] | |||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | $ 15,039,194 | $ 14,578,925 | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | 1,051,164 | 268,395 | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 16,090,358 | 14,847,320 | |
Financial Standby Letter of Credit [Member] | |||
Loss Contingencies [Line Items] | |||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | 20,360 | 23,215 | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | 55,150 | 54,820 | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 75,510 | 78,035 | |
Forward Contracts [Member] | Mortgage Receivable [Member] | |||
Loss Contingencies [Line Items] | |||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | 738,399 | 146,009 | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | 0 | 0 | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 738,399 | 146,009 | |
Consolidated Obligation Bonds [Member] | |||
Loss Contingencies [Line Items] | |||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | [1] | 0 | 92,000 |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | [1] | 0 | 0 |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | [1] | 0 | 92,000 |
Discount Notes [Member] | |||
Loss Contingencies [Line Items] | |||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring Within One Year | [1] | 20,000 | 525,000 |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Expiring After One Year | [1] | 0 | 0 |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | [1] | $ 20,000 | $ 525,000 |
[1] | Expiration is based on settlement period rather than underlying contractual maturity of Consolidated Obligations. |
Transactions with Other FHLBa_3
Transactions with Other FHLBanks (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Schedule of Other Transactions [Line Items] | ||
Proceeds from Bonds Transferred from Other Federal Home Loan Banks | $ 0 | $ 0 |
Payments for Bonds Transferred to Other Federal Home Loan Banks | 0 | 0 |
Other FHLBanks [Member] | ||
Schedule of Other Transactions [Line Items] | ||
Loans Receivable, Average Outstanding Amount | 3,846 | 1,832 |
Short-term Debt, Average Outstanding Amount | $ 183 | $ 366 |
Transactions with Stockholder_2
Transactions with Stockholders (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | |
Schedule of Other Transactions [Line Items] | |||
Advances | $ 46,185,701 | $ 54,872,172 | |
Loans And Leases Receivable, Unpaid Principal Balance | 10,637,238 | 10,272,154 | |
Director [Member] | |||
Schedule of Other Transactions [Line Items] | |||
Advances | $ 3,214,000 | $ 3,424,000 | |
Federal Home Loan Bank Advances, Percent of Principal | [1] | 7.00% | 6.20% |
Loans And Leases Receivable, Unpaid Principal Balance | $ 121,000 | $ 585,000 | |
Federal Home Loan Bank, Mortgage Purchase Program, Unpaid Principal Balance, Percent of Total | [1] | 1.10% | 5.70% |
Regulatory Capital Stock, Value | $ 178,000 | $ 419,000 | |
Regulatory Capital Stock, Percent of Total | [1] | 4.90% | 9.60% |
[1] | Percentage of total principal (Advances), unpaid principal balance (MPP), and regulatory capital stock. |
Transactions with Stockholder_3
Transactions with Stockholders (Concentrations) (Details) $ in Thousands | Sep. 30, 2019USD ($)Banks | Dec. 31, 2018USD ($) |
Concentration Risk [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | $ 46,185,701 | $ 54,872,172 |
Number of State Housing Authorities Standby Bond Purchase Agreements | Banks | 1 | |
JPMorgan Chase Bank National Association [Member] | Capital Stock Ownership By Third Party [Member] | ||
Concentration Risk [Line Items] | ||
Regulatory Capital Stock, Value | $ 852,000 | $ 1,085,000 |
Concentration Risk, Percentage | 24.00% | 25.00% |
JPMorgan Chase Bank National Association [Member] | Advances to Members and Former Members [Member] | ||
Concentration Risk [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | $ 8,050,000 | $ 23,400,000 |
JPMorgan Chase Bank National Association [Member] | Mortgage Purchase Program [Member] | ||
Concentration Risk [Line Items] | ||
Federal Home Loan Bank, Mortgage Purchase Program, Unpaid Principal Balance | 0 | 0 |
U.S. Bank, N.A. [Member] | Capital Stock Ownership By Third Party [Member] | ||
Concentration Risk [Line Items] | ||
Regulatory Capital Stock, Value | $ 497,000 | $ 796,000 |
Concentration Risk, Percentage | 14.00% | 18.00% |
U.S. Bank, N.A. [Member] | Advances to Members and Former Members [Member] | ||
Concentration Risk [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | $ 4,974,000 | $ 4,574,000 |
U.S. Bank, N.A. [Member] | Mortgage Purchase Program [Member] | ||
Concentration Risk [Line Items] | ||
Federal Home Loan Bank, Mortgage Purchase Program, Unpaid Principal Balance | $ 17,000 | 19,000 |
The Huntington National Bank [Member] | Capital Stock Ownership By Third Party [Member] | ||
Concentration Risk [Line Items] | ||
Regulatory Capital Stock, Value | $ 248,000 | |
Concentration Risk, Percentage | 6.00% | |
The Huntington National Bank [Member] | Advances to Members and Former Members [Member] | ||
Concentration Risk [Line Items] | ||
Federal Home Loan Bank, Advances, Par Value | $ 6,000 | |
The Huntington National Bank [Member] | Mortgage Purchase Program [Member] | ||
Concentration Risk [Line Items] | ||
Federal Home Loan Bank, Mortgage Purchase Program, Unpaid Principal Balance | $ 486,000 | |
Kentucky Housing Corporation, Ohio Housing Finance Agency, Tennessee Housing Development Agency [Member] | ||
Concentration Risk [Line Items] | ||
Number Of Relationships With Non Member Affiliates | Banks | 3 |