v3.25.3
Derivatives and Hedging Activities (Derivatives in Statement of Income and Impact on Interest) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]        
Derivative Instruments, Gain (Loss) by Hedging Relationship, by Income Statement Location, by Derivative Instrument Risk [Table]    
The following table presents, by type of hedged item, the gains (losses) on derivatives and the related hedged items in fair value hedging relationships, which also includes amortization of basis adjustments related to hedged items in discontinued fair value hedging relationships, and the impact of those derivatives on the Bank’s net interest income. Also included is the amortization of basis adjustments related to mortgage delivery commitments, which are characterized as derivatives, but are not designated in fair value hedging relationships.
(in thousands)Three months ended September 30, 2025
Hedged item type
Advances
AFS securitiesMortgage loans held for portfolioConsolidated obligations – discount notesConsolidated obligations – bonds
Total interest income/ (expense)
$534,385 $230,673 $51,120 $(79,351)$(766,993)
Gains/(losses) on derivative
$(14,798)$(32,898)$— $1,861 $52,437 
Gains/ (losses) on hedged item
14,851 32,766 265 (2,785)(52,622)
Net interest settlements
24,938 37,424 — (1,168)(58,115)
Effect of derivatives on net interest income
$24,991 $37,292 $265 $(2,092)$(58,300)
(in thousands)Nine months ended September 30, 2025
Hedged item type
Advances
AFS securitiesMortgage loans held for portfolioConsolidated obligations – discount notesConsolidated obligations – bonds
Total interest income/ (expense)
$1,933,769 $693,477 $144,993 $(266,589)$(2,539,277)
Gains/(losses) on derivative
$(123,193)$(255,582)$— $324 $197,419 
Gains/ (losses) on hedged item
123,430 255,490 508 (35)(197,486)
Net interest settlements
79,224 108,199 — (1,389)(168,498)
Effect of derivatives on net interest income
$79,461 $108,107 $508 $(1,100)$(168,565)

(in thousands)Three months ended September 30, 2024
Hedged item type
Advances
AFS securitiesMortgage loans held for portfolioConsolidated obligations – discount notesConsolidated obligations – bonds
Total interest income / (expense)
$1,058,730 $262,123 $42,555 $(143,277)$(1,238,603)
Gains/(losses) on derivative
$(245,715)$(292,757)$— $1,841 $298,007 
Gains/ (losses) on hedged item
245,823 289,817 (91)(1,638)(298,041)
Net interest settlements
74,955 56,888 — (995)(124,212)
Effect of derivatives on net interest income
$75,063 $53,948 $(91)$(792)$(124,246)
(in thousands)Nine months ended September 30, 2024
Hedged item type
Advances
AFS securitiesMortgage loans held for portfolioConsolidated obligations – discount notesConsolidated obligations – bonds
Total interest income / (expense)
$3,147,401 $735,937 $124,967 $(466,347)$(3,558,550)
Gains/(losses) on derivative
$(183,617)$(164,311)$— $823 $344,215 
Gains/ (losses) on hedged item
183,856 161,450 (256)(1,079)(343,370)
Net interest settlements
241,114 163,526 — (3,723)(414,514)
Effect of derivatives on net interest income
$241,353 $160,665 $(256)$(3,979)$(413,669)
  
Advances $ 534,385 $ 1,058,730 $ 1,933,769 $ 3,147,401
Available-for-sale (AFS) securities 230,673 262,123 693,477 735,937
Mortgage loans held for portfolio 51,120 42,555 144,993 124,967
Consolidated obligations - bonds 766,993 1,238,603 2,539,277 3,558,550
Consolidated obligations - discount notes (79,351) (143,277) (266,589) (466,347)
Net gains (losses) related to derivatives not designated as hedging instruments (6,276) (17,965) (25,894) (10,618)
Derivative Instruments, Gain (Loss) [Line Items]        
Advances 534,385 1,058,730 1,933,769 3,147,401
Available-for-sale (AFS) securities 230,673 262,123 693,477 735,937
Mortgage loans held for portfolio 51,120 42,555 144,993 124,967
Consolidated obligations - bonds 766,993 1,238,603 2,539,277 3,558,550
Consolidated obligations - discount notes (79,351) (143,277) (266,589) (466,347)
Net gains (losses) related to derivatives not designated as hedging instruments (6,276) (17,965) (25,894) (10,618)
Net Interest Settlements [Member]        
Derivative Instruments and Hedging Activities Disclosure [Abstract]        
Net gains (losses) related to derivatives not designated as hedging instruments 1,377 3,888 4,861 9,494
Derivative Instruments, Gain (Loss) [Line Items]        
Net gains (losses) related to derivatives not designated as hedging instruments 1,377 3,888 4,861 9,494
Interest Income [Member] | Advances [Member]        
Derivative Instruments and Hedging Activities Disclosure [Abstract]        
Gains/(Losses) on Derivative (14,798) (245,715) (123,193) (183,617)
Gains/(Losses) on Hedged Item 14,851 245,823 123,430 183,856
Net Interest Settlements on FV Hedges 24,938 74,955 79,224 241,114
Gain (Loss) on Fair Value Hedges Recognized in Net Interest Income 24,991 75,063 79,461 241,353
Derivative Instruments, Gain (Loss) [Line Items]        
Gains/(Losses) on Derivative (14,798) (245,715) (123,193) (183,617)
Gains/(Losses) on Hedged Item 14,851 245,823 123,430 183,856
Net Interest Settlements on FV Hedges 24,938 74,955 79,224 241,114
Gain (Loss) on Fair Value Hedges Recognized in Net Interest Income 24,991 75,063 79,461 241,353
Interest Income [Member] | Available-for-sale Securities        
Derivative Instruments and Hedging Activities Disclosure [Abstract]        
Gains/(Losses) on Derivative (32,898) (292,757) (255,582) (164,311)
Gains/(Losses) on Hedged Item 32,766 289,817 255,490 161,450
Net Interest Settlements on FV Hedges 37,424 56,888 108,199 163,526
Gain (Loss) on Fair Value Hedges Recognized in Net Interest Income 37,292 53,948 108,107 160,665
Derivative Instruments, Gain (Loss) [Line Items]        
Gains/(Losses) on Derivative (32,898) (292,757) (255,582) (164,311)
Gains/(Losses) on Hedged Item 32,766 289,817 255,490 161,450
Net Interest Settlements on FV Hedges 37,424 56,888 108,199 163,526
Gain (Loss) on Fair Value Hedges Recognized in Net Interest Income 37,292 53,948 108,107 160,665
Interest Income [Member] | Mortgage Receivable [Member]        
Derivative Instruments and Hedging Activities Disclosure [Abstract]        
Gains/(Losses) on Derivative 0 0 0 0
Gains/(Losses) on Hedged Item 265 (91) 508 (256)
Net Interest Settlements on FV Hedges 0 0 0 0
Gain (Loss) on Fair Value Hedges Recognized in Net Interest Income 265 (91) 508 (256)
Derivative Instruments, Gain (Loss) [Line Items]        
Gains/(Losses) on Derivative 0 0 0 0
Gains/(Losses) on Hedged Item 265 (91) 508 (256)
Net Interest Settlements on FV Hedges 0 0 0 0
Gain (Loss) on Fair Value Hedges Recognized in Net Interest Income 265 (91) 508 (256)
Interest Expense [Member] | Consolidated Obligations Bonds [Member]        
Derivative Instruments and Hedging Activities Disclosure [Abstract]        
Gains/(Losses) on Derivative 52,437 298,007 197,419 344,215
Gains/(Losses) on Hedged Item (52,622) (298,041) (197,486) (343,370)
Net Interest Settlements on FV Hedges (58,115) (124,212) (168,498) (414,514)
Gain (Loss) on Fair Value Hedges Recognized in Net Interest Income (58,300) (124,246) (168,565) (413,669)
Derivative Instruments, Gain (Loss) [Line Items]        
Gains/(Losses) on Derivative 52,437 298,007 197,419 344,215
Gains/(Losses) on Hedged Item (52,622) (298,041) (197,486) (343,370)
Net Interest Settlements on FV Hedges (58,115) (124,212) (168,498) (414,514)
Gain (Loss) on Fair Value Hedges Recognized in Net Interest Income (58,300) (124,246) (168,565) (413,669)
Interest Expense [Member] | Consolidated Obligations Discount Notes        
Derivative Instruments and Hedging Activities Disclosure [Abstract]        
Gains/(Losses) on Derivative 1,861 1,841 324 823
Gains/(Losses) on Hedged Item (2,785) (1,638) (35) (1,079)
Net Interest Settlements on FV Hedges (1,168) (995) (1,389) (3,723)
Gain (Loss) on Fair Value Hedges Recognized in Net Interest Income (2,092) (792) (1,100) (3,979)
Derivative Instruments, Gain (Loss) [Line Items]        
Gains/(Losses) on Derivative 1,861 1,841 324 823
Gains/(Losses) on Hedged Item (2,785) (1,638) (35) (1,079)
Net Interest Settlements on FV Hedges (1,168) (995) (1,389) (3,723)
Gain (Loss) on Fair Value Hedges Recognized in Net Interest Income $ (2,092) $ (792) $ (1,100) $ (3,979)