v3.26.1
Affordable Housing Program
 6 Months Ended
Jun. 30, 2026
Federal Home Loan Banks [Abstract]  
Affordable Housing Program [Text Block] Affordable Housing Program and Voluntary Contributions
Affordable Housing Program

Each year, the Bank is required to set aside 10 percent of its income before assessments, excluding interest on mandatorily redeemable capital stock, to fund its statutory Affordable Housing Program (AHP). The Bank accrues this expense monthly based on income subject to assessment. These amounts are available to be used in the following year and are included in the Bank’s AHP liability. The Bank reduces the AHP liability when it makes grant disbursements or as members use advance subsidies.

The following table presents a rollforward of the Bank’s AHP liability, including voluntary AHP contributions:
For the Six Months Ended June 30,
20262025
AHP liability balance, at beginning of period$174 $157 
Statutory AHP assessment30 32 
Voluntary AHP expense14 11 
Direct grant disbursements(50)(40)
Recapture amounts and other1 — 
AHP liability balance, at end of period$169 $160 

Voluntary Contributions

In addition to the statutory AHP assessment, the Bank’s board of directors may, from time to time, authorize voluntary contributions to the AHP or other housing and community investment initiatives. The Bank’s board of directors authorized $45 in voluntary contributions for 2026 consisting of $14 in voluntary AHP contributions and $31 in voluntary non-AHP contributions. These amounts are anticipated to be expensed during 2026. The income statement effects of voluntary contributions reduce net income before assessment which, in turn, reduces the statutory AHP assessment each year. As such, the Bank has committed to making supplemental voluntary contributions to AHP by an amount that equals what the statutory AHP assessment would be in the absence of these effects. The line item below titled “Supplemental voluntary contribution to AHP” represents this amount. The supplemental voluntary contribution to AHP is accrued, expensed, and disbursed in the same manner as statutory AHP assessments.
The following table presents voluntary contributions reported in noninterest expense as “Voluntary housing and community investment” on the Statements of Income, which were allocated as follows:
For the Three Months Ended June 30,For the Six Months Ended June 30,
2026202520262025
Voluntary AHP contributions:
AHP Homeownership Set-aside Program $6 $5 $10 $8 
    Supplemental voluntary contribution to AHP3 2 4 3 
Total voluntary AHP contributions9 7 14 11 
Voluntary non-AHP contributions:
Workforce Housing Plus+ Program13 13 20 20 
Multifamily Housing Development Fund (1)
4 — 6 — 
Heirs’ Property Family Wealth Protection Fund— — 1 — 
Total voluntary non-AHP contributions17 13 27 20 
Total voluntary housing and community investment$26 $20 $41 $31 
____________
(1) Program formerly titled “ Multifamily Housing Bridge Fund.”

Voluntary contributions that are not disbursed, excluding voluntary AHP contributions, are included within “Other liabilities” on the Statements of Condition. The following table presents a rollforward of the Bank’s voluntary non-AHP contributions liability:
For the Six Months Ended June 30,
20262025
Voluntary non-AHP contributions liability, at beginning of period$12 $6 
Voluntary non-AHP expense27 20 
Voluntary grants and donations(32)(25)
Voluntary non-AHP contributions liability, at end of period$7 $1