| Schedule of Maturities of Debt |
The following table presents a summary of the Bank’s consolidated obligation bonds outstanding by year of contractual maturity and weighted-average interest rate at September 30, 2025 and December 31, 2024. | | | | | | | | | | | | | | | (dollars in thousands) | September 30, 2025 | December 31, 2024 |
Year of Contractual Maturity | Amount | Weighted Average Interest Rate | Amount | Weighted Average Interest Rate | | Due in 1 year or less | $ | 44,640,140 | | 3.82 | % | $ | 69,412,265 | | 4.34 | % | | Due after 1 year through 2 years | 5,522,500 | | 2.69 | | 8,746,000 | | 2.14 | | | Due after 2 years through 3 years | 3,196,650 | | 3.77 | | 2,462,900 | | 3.38 | | | Due after 3 years through 4 years | 1,503,410 | | 3.91 | | 2,484,125 | | 3.64 | | | Due after 4 years through 5 years | 1,398,500 | | 3.68 | | 1,905,135 | | 4.41 | | | Thereafter | 3,524,000 | | 3.61 | | 3,285,000 | | 3.20 | | | | | | | | Total par value | $ | 59,785,200 | | 3.70 | % | $ | 88,295,425 | | 4.03 | % | Bond premiums | $ | 21,080 | | | $ | 21,576 | | | Bond discounts | (7,358) | | | (8,766) | | | Concession fees | (6,800) | | | (6,848) | | | | Fair value hedging adjustments | (138,797) | | | (336,283) | | | | Total book value | $ | 59,653,325 | | | $ | 87,965,104 | | | | | | | |
The following table presents consolidated obligation bonds outstanding by the earlier of contractual maturity or next call date as of September 30, 2025 and December 31, 2024. | | | | | | | | | | Year of Contractual Maturity or Next Call Date | (in thousands) | September 30, 2025 | December 31, 2024 | | Due in 1 year or less | $ | 54,585,140 | | $ | 81,109,765 | | | Due after 1 year through 2 years | 1,619,000 | | 3,376,500 | | | Due after 2 years through 3 years | 1,700,150 | | 1,007,900 | | | Due after 3 years through 4 years | 657,410 | | 1,713,125 | | | Due after 4 years through 5 years | 520,500 | | 336,135 | | | Thereafter | 703,000 | | 752,000 | | | | | | Total par value | $ | 59,785,200 | | $ | 88,295,425 | |
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| Schedule of Long-term Debt by Call Feature |
The following table details interest rate payment terms for the Bank’s consolidated obligation bonds as of September 30, 2025 and December 31, 2024. | | | | | | | | | | (in thousands) | September 30, 2025 | December 31, 2024 | | Par value of consolidated bonds: | | | | Fixed-rate | $ | 30,550,200 | | $ | 26,415,025 | | | Step-up | 1,100,000 | | 1,341,000 | | | Floating-rate | 28,135,000 | | 60,539,400 | | | | | | Total par value | $ | 59,785,200 | | $ | 88,295,425 | |
The following table presents the Bank’s consolidated obligation bonds outstanding between noncallable and callable as of September 30, 2025 and December 31, 2024. | | | | | | | | | | (in thousands) | September 30, 2025 | December 31, 2024 | | Noncallable | $ | 34,963,460 | | $ | 65,083,925 | | | Callable | 24,821,740 | | 23,211,500 | | | Total par value | $ | 59,785,200 | | $ | 88,295,425 | |
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| Schedule of Short-term Debt |
The following table details the Bank’s consolidated obligation discount notes as of September 30, 2025 and December 31, 2024. | | | | | | | | | | (dollars in thousands) | September 30, 2025 | December 31, 2024 | | Book value | $ | 12,226,613 | | $ | 11,685,159 | | | Par value | $ | 12,347,930 | | $ | 11,777,387 | | Weighted average interest rate (1) | 4.08 | % | 4.42 | % |
Note: (1) Represents yield to maturity excluding concession fees and hedging adjustments.
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