Capital (Tables)
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3 Months Ended |
Mar. 31, 2025 |
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| Banking Regulation, Total Capital [Abstract] |
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| Schedule of Capital Stock Outstanding by Sub-series |
The following table presents our capital stock outstanding by sub-series. | | | | | | | | | | | | | | | | Capital Stock Sub-Series | | March 31, 2025 | | December 31, 2024 | Class B-1 1 | | $ | 603,819 | | | $ | 614,447 | | Class B-2 2 | | 1,879,731 | | | 1,940,947 | | | Total Class B outstanding, par value | | $ | 2,483,550 | | | $ | 2,555,394 | |
1 Non-activity-based stock. 2 Activity-based stock.
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| Mandatorily Redeemable Capital Stock |
The following table presents the activity in our MRCS. | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | MRCS Activity | | | | | | 2025 | | 2024 | | Liability at beginning of period | | | | | | $ | 363,004 | | | $ | 369,041 | | | | | | | | | | | | | | | | | | | | | Redemptions/repurchases | | | | | | (96,645) | | | (1,597) | | | Liability at end of period | | | | | | $ | 266,359 | | | $ | 367,444 | |
The following table presents our MRCS by contractual year of redemption. The year of redemption is the later of (i) the final year of the five-year redemption period, or (ii) the first year in which a non-member no longer has an activity-based stock requirement.
| | | | | | | | | | | | | | | | MRCS Contractual Year of Redemption | | March 31, 2025 | | December 31, 2024 | Past contractual redemption date1 | | $ | 9,706 | | | $ | 9,748 | | | Year 1 | | 11 | | | 19,179 | | | Year 2 | | — | | | 3,674 | | | Year 3 | | 255,483 | | | 329,232 | | | Year 4 | | 1,159 | | | 12 | | | Year 5 | | — | | | 1,159 | | | | | | | | Total MRCS, par value | | $ | 266,359 | | | $ | 363,004 | |
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| Schedule of Distributions on Mandatorily Redeemable Capital Stock |
The following table presents the distributions related to our MRCS.
| | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | MRCS Distributions | | | | | | 2025 | | 2024 | | Recorded as interest expense | | | | | | $ | 4,663 | | | $ | 5,342 | | | Recorded as distributions from retained earnings | | | | | | — | | | — | | | Total | | | | | | $ | 4,663 | | | $ | 5,342 | |
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| Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations |
We are subject to three capital requirements under our capital plan and Finance Agency regulations. As presented in the following table, we were in compliance with these Finance Agency capital requirements at March 31, 2025 and December 31, 2024. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2025 | | December 31, 2024 | | Regulatory Capital Requirements | | Required | | Actual | | Required | | Actual | | Risk-based capital | | $ | 1,100,911 | | $ | 4,457,333 | | $ | 1,078,665 | | $ | 4,602,510 | | | | | | | | | | | Total regulatory capital | | $ | 3,228,421 | | $ | 4,457,333 | | $ | 3,381,384 | | $ | 4,602,510 | | Total regulatory capital-to-assets ratio | | 4.00% | | 5.52% | | 4.00% | | 5.44% | | | | | | | | | | | Leverage capital | | $ | 4,035,526 | | $ | 6,686,000 | | $ | 4,226,730 | | $ | 6,903,765 | | Leverage ratio | | 5.00% | | 8.28% | | 5.00% | | 8.17% |
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