| Schedule of Maturities of Debt |
The following table presents a summary of the Bank’s consolidated obligation bonds outstanding by year of contractual maturity and weighted-average interest rate at June 30, 2026 and December 31, 2025. | | | | | | | | | | | | | | | (dollars in thousands) | June 30, 2026 | December 31, 2025 |
Year of Contractual Maturity | Amount | Weighted Average Interest Rate | Amount | Weighted Average Interest Rate | | Due in 1 year or less | $ | 64,494,750 | | 3.50 | % | $ | 38,903,990 | | 3.34 | % | | Due after 1 year through 2 years | 8,916,900 | | 3.61 | | 3,468,100 | | 3.25 | | | Due after 2 years through 3 years | 1,820,260 | | 3.75 | | 2,634,525 | | 3.56 | | | Due after 3 years through 4 years | 1,194,500 | | 3.58 | | 1,328,135 | | 3.93 | | | Due after 4 years through 5 years | 1,685,500 | | 3.55 | | 1,249,500 | | 3.39 | | | Thereafter | 3,307,000 | | 3.73 | | 3,303,000 | | 3.58 | | | | | | | | Total par value | $ | 81,418,910 | | 3.53 | % | $ | 50,887,250 | | 3.38 | % | Bond premiums | $ | 17,227 | | | $ | 19,442 | | | Bond discounts | (6,293) | | | (6,909) | | | Concession fees | (7,838) | | | (6,488) | | | | Fair value hedging adjustments | (72,679) | | | (98,044) | | | | Total consolidated obligation bonds | $ | 81,349,327 | | | $ | 50,795,251 | | | | | | | |
The following table presents consolidated obligation bonds outstanding by the earlier of contractual maturity or next call date as of June 30, 2026 and December 31, 2025. | | | | | | | | | | Year of Contractual Maturity or Next Call Date | (in thousands) | June 30, 2026 | December 31, 2025 | | Due in 1 year or less | $ | 71,031,750 | | $ | 45,619,490 | | | Due after 1 year through 2 years | 7,950,400 | | 1,746,100 | | | Due after 2 years through 3 years | 813,260 | | 1,908,025 | | | Due after 3 years through 4 years | 562,000 | | 431,135 | | | Due after 4 years through 5 years | 442,500 | | 519,500 | | | Thereafter | 619,000 | | 663,000 | | | | | | Total par value | $ | 81,418,910 | | $ | 50,887,250 | |
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| Schedule of Long-term Debt by Call Feature |
The following table details interest rate payment terms for the Bank’s consolidated obligation bonds as of June 30, 2026 and December 31, 2025. | | | | | | | | | | (in thousands) | June 30, 2026 | December 31, 2025 | | Par value of consolidated bonds: | | | | Fixed-rate | $ | 27,842,410 | | $ | 28,211,750 | | | Step-up | 815,000 | | 1,075,000 | | | Floating-rate | 52,761,500 | | 21,600,500 | | | | | | Total par value | $ | 81,418,910 | | $ | 50,887,250 | |
The following table presents the Bank’s consolidated obligation bonds outstanding between noncallable and callable as of June 30, 2026 and December 31, 2025.
| | | | | | | | | | (in thousands) | June 30, 2026 | December 31, 2025 | | Noncallable | $ | 60,020,410 | | $ | 26,784,760 | | | Callable | 21,398,500 | | 24,102,490 | | | Total par value | $ | 81,418,910 | | $ | 50,887,250 | |
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| Schedule of Short-term Debt |
The following table details the Bank’s consolidated obligation discount notes as of June 30, 2026 and December 31, 2025. | | | | | | | | | | (dollars in thousands) | June 30, 2026 | December 31, 2025 | | Book value | $ | 29,428,993 | | $ | 16,697,025 | | | Par value | $ | 29,777,806 | | $ | 16,813,630 | | Weighted average interest rate (1) | 3.72 | % | 3.83 | % |
Note: (1) Represents yield to maturity excluding concession fees and hedging adjustments.
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