v3.25.1
Fair Value (Fair Value Measured on Recurring and Nonrecurring Basis) (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value of advances under the fair value option [1] $ 5,539 $ 5,286
Derivative Asset, Netting adjustments [2] 659 722
Derivative assets, net 2 30
Derivative Liability, Netting adjustments [2] (364) (450)
Derivative liabilities, net 11 8
Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other assets [3] 17 17
Mortgage loans held for portfolio 0 0
Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Netting adjustments [4] (659) (722)
Other assets [3] 0 0
Derivative Liability, Netting adjustments [4] (364) (450)
Mortgage loans held for portfolio 570 576
Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other assets [3] 0 0
Mortgage loans held for portfolio 0 0
Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value of advances under the fair value option [5] 5,539 5,286
Derivative Asset, Netting adjustments [6] (659) (722)
Derivative Liability, Netting adjustments [6] (364) (450)
Fair Value, Measurements, Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value of AFS Securities 0 0
Fair value of advances under the fair value option [5] 0 0
Other assets 17 17
Total fair value measurements – Assets 17 17
Total recurring fair value measurements – Liabilities 0 0
Fair Value, Measurements, Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value of AFS Securities 19,451 19,355
Fair value of advances under the fair value option [5] 5,539 5,286
Other assets 0 0
Total fair value measurements – Assets 25,651 25,393
Total recurring fair value measurements – Liabilities 755 894
Fair Value, Measurements, Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value of AFS Securities 942 957
Fair value of advances under the fair value option [5] 0 0
Other assets 0 0
Total fair value measurements – Assets 942 957
Total recurring fair value measurements – Liabilities 0 0
Fair Value, Measurements, Nonrecurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total fair value measurements – Assets [7] 0 0
Mortgage loans held for portfolio 0 0 [7]
Fair Value, Measurements, Nonrecurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total fair value measurements – Assets [7] 0 0
Mortgage loans held for portfolio 0 0 [7]
Fair Value, Measurements, Nonrecurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total fair value measurements – Assets [7] 1 1
Mortgage loans held for portfolio [7] 1 1
State housing agency obligations | Fair Value, Measurements, Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value of AFS Securities 0  
State housing agency obligations | Fair Value, Measurements, Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value of AFS Securities 11  
State housing agency obligations | Fair Value, Measurements, Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value of AFS Securities 0  
US Treasury Securities | Fair Value, Measurements, Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value of AFS Securities 0 0
US Treasury Securities | Fair Value, Measurements, Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value of AFS Securities 6,453 6,510
US Treasury Securities | Fair Value, Measurements, Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value of AFS Securities 0 0
Residential Mortgage Backed Securities | Fair Value, Measurements, Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value of AFS Securities 0 0
Residential Mortgage Backed Securities | Fair Value, Measurements, Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value of AFS Securities 12,987 12,845
Residential Mortgage Backed Securities | Fair Value, Measurements, Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value of AFS Securities 942 957
Subtotal PLRMBS | Fair Value, Measurements, Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value of AFS Securities 0 0
Subtotal PLRMBS | Fair Value, Measurements, Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value of AFS Securities 0 0
Subtotal PLRMBS | Fair Value, Measurements, Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value of AFS Securities 942 957
Consolidated obligation bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Bonds 380 436
Consolidated obligation bonds | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Bonds 0 0
Consolidated obligation bonds | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Bonds 55,925 57,985
Consolidated obligation bonds | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Bonds 0 0
Consolidated obligation bonds | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Bonds [8] 380 436
Consolidated obligation bonds | Fair Value, Measurements, Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Bonds [8] 0 0
Consolidated obligation bonds | Fair Value, Measurements, Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Bonds [8] 380 436
Consolidated obligation bonds | Fair Value, Measurements, Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Bonds [8] 0 0
Estimate of Fair Value Measurement    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative assets, net [4] 2 30
Other assets [3] 17 17
Derivative liabilities, net [4] 11 8
Mortgage loans held for portfolio 570 576
Estimate of Fair Value Measurement | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value of AFS Securities 20,393 20,312
Other assets 17 17
Total fair value measurements – Assets 25,951 25,645
Total recurring fair value measurements – Liabilities 391 444
Estimate of Fair Value Measurement | Fair Value, Measurements, Nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total fair value measurements – Assets [7] 1 1
Mortgage loans held for portfolio [7] 1 1
Estimate of Fair Value Measurement | State housing agency obligations | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value of AFS Securities 11  
Estimate of Fair Value Measurement | US Treasury Securities | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value of AFS Securities 6,453 6,510
Estimate of Fair Value Measurement | Residential Mortgage Backed Securities | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value of AFS Securities 13,929 13,802
Estimate of Fair Value Measurement | Subtotal PLRMBS | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value of AFS Securities 942 957
Estimate of Fair Value Measurement | Consolidated obligation bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Bonds 55,925 57,985
Interest rate swaps | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Netting adjustments [6] (659) (722)
Derivative Liability, Netting adjustments [6] (364) (450)
Interest rate swaps | Fair Value, Measurements, Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative assets, net 0 0
Derivative liabilities, net 0 0
Interest rate swaps | Fair Value, Measurements, Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative assets, net 661 752
Derivative liabilities, net 375 458
Interest rate swaps | Fair Value, Measurements, Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative assets, net 0 0
Derivative liabilities, net 0 0
Interest rate swaps | Estimate of Fair Value Measurement | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative assets, net 2 30
Derivative liabilities, net 11 8
Multifamily | MBS - GSEs | Fair Value, Measurements, Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value of AFS Securities 0 0
Multifamily | MBS - GSEs | Fair Value, Measurements, Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value of AFS Securities 12,987 12,845
Multifamily | MBS - GSEs | Fair Value, Measurements, Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value of AFS Securities 0 0
Multifamily | Estimate of Fair Value Measurement | MBS - GSEs | Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value of AFS Securities $ 12,987 $ 12,845
[1] At March 31, 2025, and December 31, 2024, none of these advances were 90 days or more past due or had been placed on nonaccrual status.
[2] Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions, and also cash collateral, including accrued interest, held or placed with the same clearing agents or counterparty. Cash collateral posted, including accrued interest, was $140 million and $210 million at March 31, 2025, and December 31, 2024, respectively. Cash collateral received, including accrued interest, was $435 million and $482 million at March 31, 2025, and December 31, 2024, respectively.
[3] publicly traded mutual funds held in a grantor trust.
[4] Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions, and also cash collateral and related accrued interest held or placed with the same clearing agents or counterparty.
[5] Represents advances recorded under the fair value option at March 31, 2025, and December 31, 2024.
[6] Amounts represent the application of the netting requirements that allow the Bank to settle positive and negative positions, and also cash collateral and related accrued interest held or placed by the Bank, with the same clearing agents or counterparty
[7] The fair value information presented is as of the date the fair value adjustment was recorded during the three months ended March 31, 2025,
[8] Represents consolidated obligation bonds recorded under the fair value option at March 31, 2025, and December 31, 2024