v3.26.1
Capital
 3 Months Ended
Mar. 31, 2026
Banking Regulation, Total Capital [Abstract]  
Stockholders' Equity Note Disclosure [Text Block] Capital
At all times during the three months ended March 31, 2026, the Bank was in compliance with all applicable statutory and regulatory capital requirements. The following table summarizes the Bank’s compliance with those capital requirements as of March 31, 2026 and December 31, 2025 (dollars in thousands):
 March 31, 2026December 31, 2025
 RequiredActualRequiredActual
Regulatory capital requirements:    
Risk-based capital$1,237,030 $6,161,658 $1,230,921 $6,573,370 
Total capital$3,882,883 $6,161,658 $4,340,481 $6,573,370 
Total capital-to-assets ratio4.00 %6.35 %4.00 %6.06 %
Leverage capital$4,853,603 $9,242,487 $5,425,601 $9,860,055 
Leverage capital-to-assets ratio5.00 %9.52 %5.00 %9.09 %
The Bank must also maintain a minimum capital stock-to-assets ratio of 2.0 percent, as measured on a daily average basis at each month end. The Bank was in compliance with this requirement at each of the month ends during the three months ended March 31, 2026.
Members are required to maintain an investment in Class B Capital Stock equal to the sum of a membership investment requirement and an activity-based investment requirement. The membership investment requirement is currently 0.04 percent of each member’s total assets as of December 31, 2025, subject to a minimum of $1,000 and a maximum of $7,000,000. The activity-based investment requirement is 4.1 percent of outstanding advances and 0.1 percent of outstanding letters of credit, except as described below.
As more fully described in the 2025 10-K (specifically, Note 15 to the audited financial statements on page F-39 of that report), the Bank previously offered two reduced stock advance programs wherein, for each program, the activity-based stock investment requirement was reduced from 4.1 percent to 2.0 percent for certain advances that were funded during specified periods. At March 31, 2026, the remaining balance of advances funded under these programs totaled $1,736,551,000.
The Bank generally repurchases surplus stock quarterly. For the repurchase that occurred during the three months ended March 31, 2026, surplus stock was defined as the amount of stock held by a member shareholder in excess of 110 percent of the shareholder’s minimum investment requirement. For that repurchase, which occurred on March 23, 2026, a member shareholder's surplus stock was not repurchased if: (1) the amount of that shareholder's surplus stock was $1,000,000 or less or (2) the shareholder was on restricted collateral status (subject to certain restrictions). On March 23, 2026, the Bank repurchased surplus stock totaling $461,181,000, none of which was classified as mandatorily redeemable capital stock at that date. From time to time, the Bank may modify the definition of surplus stock or the timing and/or frequency of surplus stock repurchases.
On March 23, 2026, the Bank also repurchased all excess stock held by non-member shareholders as of that date. This excess stock, all of which was classified as mandatorily redeemable capital stock at that date, totaled $47,284,000.