v3.26.1
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Interest income:    
Mortgage loans $ 38,905 $ 37,399
Securities purchased under agreements to resell 630 872
Investments in securities and other 687 745
Total interest income 40,222 39,016
Interest expense:    
Short-term debt (194) (105)
Long-term debt (32,830) (31,910)
Total interest expense (33,024) (32,015)
Net interest income 7,198 7,001
Fair value gains (losses), net 121 123
Fee and other income 82 84
Investment gains (losses), net (277) (1)
Non-interest income (74) 206
(Provision) benefit for credit losses (277) (24)
Non-interest expense:    
Salaries and employee benefits (463) (611)
Professional services, technology, and occupancy (282) (381)
Legislative assessments (931) (931)
Credit enhancement expense (358) (479)
Other income (expense), net (149) (197)
Total non-interest expense (2,183) (2,599)
Income before federal income taxes 4,664 4,584
Provision for federal income taxes (944) (923)
Net income 3,720 3,661
Other comprehensive income (loss) (65) (6)
Total comprehensive income 3,655 3,655
Dividends distributed or amounts attributable to senior preferred stock (3,655) (3,655)
Net income (loss) attributable to common stockholders, basic 65 6
Net income (loss) attributable to common stockholders, diluted $ 65 $ 6
Earnings per share, Basic (in usd per share) $ 0.01 $ 0.00
Earnings per share, Diluted (in usd per share) $ 0.01 $ 0.00
Weighted-average common shares outstanding, Basic (shares) 5,867 5,867
Weighted-average common shares outstanding, Diluted (shares) 5,893 5,893