v3.26.1
Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
OPERATING ACTIVITIES    
Net income $ 121,877 $ 150,624
Depreciation and amortization    
Net premiums and discounts on advances, consolidated obligations, investments and mortgage loans (106,215) (90,206)
Concessions on consolidated obligations 1,754 927
Premises, equipment and computer software costs 791 715
Non-cash interest on mandatorily redeemable capital stock 107 3
Provision for credit losses 125 2,164
Net losses on other assets carried at fair value 860 651
Net losses (gains) on trading securities 9,736 (12,524)
Net change in derivative and hedging activities 20,328 (213,425)
Decrease in accrued interest receivable 14,498 37,051
Decrease (increase) in other assets 1,296 (9,425)
Increase (decrease) in Affordable Housing Program (AHP) liability (30) 3,352
Increase (decrease) in accrued interest payable 39,126 (140,950)
Decrease in other liabilities (9,567) (8,646)
Total adjustments (27,191) (430,313)
Net cash provided by (used in) operating activities 94,686 (279,689)
INVESTING ACTIVITIES    
Net increase in interest-bearing deposits, including swap collateral pledged (165,201) (83,257)
Net decrease in securities purchased under agreements to resell 8,900,000 11,150,000
Net increase in federal funds sold (1,621,000) (105,000)
Purchases of trading securities (5,605,422) (232,050)
Proceeds from maturities of trading securities 2,100,000 0
Proceeds from sales of trading securities 997,021 650,585
Purchases of available-for-sale securities (821,174) 0
Principal collected on available-for-sale securities 320,844 223,637
Purchases of held-to-maturity securities 0 (966,868)
Principal collected on held-to-maturity securities 62,950 16,095
Net decrease in advances 6,534,709 8,126,985
Purchases of mortgage loans held for portfolio (358,429) (228,940)
Principal collected on mortgage loans held for portfolio 181,386 106,092
Purchases of premises, equipment and computer software (1,164) (2,324)
Net cash provided by investing activities 10,524,520 18,654,955
FINANCING ACTIVITIES    
Net increase in deposit liabilities, including swap collateral held 368,457 33,033
Net receipts (payments) on derivative contracts with financing elements 3,888 (4,575)
Net proceeds from issuance of consolidated obligations    
Discount notes 21,043,756 9,295,134
Bonds 24,628,926 21,771,907
Debt issuance costs (1,514) (827)
Payments for maturing and retiring consolidated obligations    
Discount notes (33,835,596) (15,707,796)
Bonds (22,309,400) (33,163,505)
Proceeds from issuance of capital stock 539,714 514,885
Payments for redemption of mandatorily redeemable capital stock (166,979) (4,852)
Payments for repurchase/redemption of capital stock (906,366) (1,091,712)
Cash dividends paid (64) (65)
Net cash used in financing activities (10,635,178) (18,358,373)
Net increase (decrease) in cash and cash equivalents (15,972) 16,893
Cash and cash equivalents at beginning of the period 39,430 14,945
Cash and cash equivalents at end of the period 23,458 31,838
Supplemental Disclosures:    
Interest paid 969,378 1,324,558
AHP payments, net 14,051 13,765
Stock dividends issued 38,406 58,153
Dividends paid through issuance of mandatorily redeemable capital stock 3,195 144
Net capital stock reclassified to mandatorily redeemable capital stock $ 257,373 $ 11,825