Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2025

Commitments and Contingencies Disclosure [Abstract]

The following table presents the Bank’s various off-balance sheet commitments which are described in detail below. The Bank deemed it unnecessary to record any liabilities for credit losses on these commitments at September 30, 2025 and December 31, 2024, based on the Bank’s credit extension and collateral policies.


(in thousands)	September 30, 2025						December 31, 2024
Notional amount	Expiration Date Within One Year		Expiration Date After One Year		Total		Total
Standby letters of credit outstanding (1) (2)	$	29,399,209	$	—	$	29,399,209	$	29,560,531

Commitments to purchase mortgage loans	25,044		—		25,044		20,561
Unsettled consolidated obligation discount notes, at par	750,000		—		750,000		45,000
Unsettled consolidated obligation bonds, at par	390,000		—		390,000		642,000

Notes:

(1) Excludes approved requests to issue future standby letters of credit of $12.8 million at September 30, 2025 and $177.0 million at December 31, 2024.

(2) Letters of credit in the amount of $7.8 billion at September 30, 2025 and $7.5 billion at December 31, 2024, have renewal language that permits the letter of credit to be renewed for an additional period with a maximum renewal period of approximately five years.