v3.25.2
Consolidated Obligations
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Debt Disclosure [Text Block] Consolidated Obligations
The FHLBs issue consolidated obligations through the Office of Finance as their agent. Consolidated obligations consist of discount notes and consolidated obligation bonds. Consolidated obligation discount notes are issued to raise short-term funds, are issued at less than their face amount and redeemed at par value when they mature. The maturity of consolidated obligation bonds may range from less than one year to over 20 years, but they are not subject to any statutory or regulatory limits on maturity.

The following table presents our consolidated obligation discount notes for which we are the primary obligor. All are due in one year or less.
As ofJune 30, 2025December 31, 2024
Consolidated obligation discount notes - carrying amount$63,716 $36,739 
Consolidated obligation discount notes - principal amount64,046 36,921 
Weighted Average Interest Rate4.22 %4.41 %

The following table presents the remaining life of our consolidated obligation bonds by contractual maturity and the related weighted average interest rate, for which we are the primary obligor, including callable bonds that are redeemable in whole, or in part, at our discretion on predetermined call dates.
As of June 30, 2025Contractual MaturityWeighted Average Interest RateBy Maturity or Next Call Date
Due in one year or less$29,586 3.43 %$57,352 
One to two years16,562 2.80 %9,472 
Two to three years4,961 3.34 %2,840 
Three to four years3,904 3.54 %419 
Four to five years3,973 4.20 %334 
Thereafter12,069 3.56 %638 
Total par value$71,055 3.35 %$71,055 

The following table presents consolidated obligation bonds, for which we are the primary obligor, outstanding by call feature.
As ofJune 30, 2025December 31, 2024
Noncallable$21,369 $32,933 
Callable49,686 50,237 
Par value71,055 83,170 
Fair value hedging adjustments(843)(1,394)
Other adjustments(7)83 
Consolidated obligation bonds$70,205 $81,859 

The following table summarizes the consolidated obligations of the FHLBs and those for which we are the primary obligor. We did not accrue a liability for our joint and several liability related to the other FHLBs’ share of the consolidated obligations as of June 30, 2025, and December 31, 2024. Refer to Note 16 - Commitments and Contingencies in our 2024 Form 10-K for further details.

Par value as ofJune 30, 2025December 31, 2024
BondsDiscount
Notes		TotalBondsDiscount
Notes		Total
FHLB System total consolidated obligations$902,342 $329,785 $1,232,127 $863,788 $329,180 $1,192,968 
FHLB Chicago as primary obligor71,055 64,046 135,101 83,170 36,921 120,091 
As a percent of the FHLB System8 %19 %11 %10 %11 %10 %