The following table presents derivative instruments and securities purchased under agreements to resell with the legal right of offset, including the related collateral received from or pledged to counterparties as of March 31, 2026 and December 31, 2025 (in thousands). For daily settled derivative contracts, the variation margin payments/receipts are included in the gross amounts of derivative assets and liabilities.


	Gross Amounts of Recognized Financial Instruments		Gross Amounts Offset in the Statement of Condition		Net Amounts Presented in the Statement of Condition		Collateral Not Offset in the Statement of Condition (1)			Net Unsecured Amount
March 31, 2026

Assets

Derivatives
Bilateral derivatives	$	400,797	$	(392,883)	$	7,914	$	(35)	(2)	$	7,879
Cleared derivatives	1,549		(1,549)		—		—			—
Total derivatives	402,346		(394,432)		7,914		(35)			7,879
Securities purchased under agreements to resell	7,750,000		—		7,750,000		(7,750,000)			—
Total assets	$	8,152,346	$	(394,432)	$	7,757,914	$	(7,750,035)		$	7,879

Liabilities

Derivatives
Bilateral derivatives	$	571,967	$	(545,966)	$	26,001	$	(24,212)	(2)	$	1,789
Cleared derivatives	8,236		(1,524)		6,712		(6,712)		(3)	—


Total liabilities	$	580,203	$	(547,490)	$	32,713	$	(30,924)		$	1,789

December 31, 2025

Assets

Derivatives
Bilateral derivatives	$	336,120	$	(308,416)	$	27,704	$	(25,474)	(2)	$	2,230
Cleared derivatives	12,765		(2,571)		10,194		—			10,194
Total derivatives	348,885		(310,987)		37,898		(25,474)			12,424
Securities purchased under agreements to resell	16,650,000		—		16,650,000		(16,650,000)			—
Total assets	$	16,998,885	$	(310,987)	$	16,687,898	$	(16,675,474)		$	12,424

Liabilities

Derivatives
Bilateral derivatives	$	619,307	$	(615,018)	$	4,289	$	—	(2)	$	4,289
Cleared derivatives	2,588		(2,522)		66		(66)		(3)	—
Total liabilities	$	621,895	$	(617,540)	$	4,355	$	(66)		$	4,289

(2)Consists of collateral pledged by member counterparties and securities received or pledged as a result of the initial margin requirements imposed upon the Bank and its bilateral counterparties. The amount of non-cash collateral for uncleared derivatives included in the determination of the net amount is limited to the amount needed to secure the Bank's or the counterparties' uncleared exposure. At March 31, 2026 and December 31, 2025, the Bank had pledged excess non-cash collateral with fair values of $116,810,000 and $171,809,000, respectively, and the Bank had received excess non-cash collateral with fair values of $129,990,000 and $138,604,000, respectively, from its bilateral counterparties.

(3)Consists of securities pledged by the Bank. In addition to the amount needed to secure the counterparties' exposure to the Bank, the Bank had pledged securities with aggregate fair values of $200,228,000 and $303,499,000 at March 31, 2026 and December 31, 2025, respectively, to further secure its cleared derivatives, which is a result of the initial margin requirements imposed upon the Bank.