Consolidated obligations are backed only by the financial resources of the FHLBanks. At any time, the FHFA may require any FHLBank to make principal or interest payments due on any consolidated obligation, whether or not the primary obligor FHLBank has defaulted on the payment of that obligation. No FHLBank has ever had to assume or pay the consolidated obligation of another FHLBank.

The par value of the other FHLBanks’ outstanding consolidated obligations for which the Bank is jointly and severally liable was $1,178,455 and $1,017,701 as of June 30, 2026 and December 31, 2025, respectively, exclusive of the Bank’s own outstanding consolidated obligations. None of the other FHLBanks defaulted on their consolidated obligations, the FHFA was not required to allocate any obligation among the FHLBanks, and the Bank currently believes that the likelihood that it would have to pay any amounts beyond those for which it is primarily liable is remote. Accordingly, the Bank has not recognized a liability for its joint and several obligation related to the other FHLBanks’ consolidated obligations as of June 30, 2026 and December 31, 2025.


	As of June 30, 2026						As of December 31, 2025
	Expire Within One Year		Expire After One Year		Total		Expire Within One Year		Expire After One Year		Total
Standby letters of credit (1)	$	12,544	$	23,574	$	36,118	$	6,893	$	26,225	$	33,118

Unsettled consolidated obligation bonds, at par (2)	630		—		630		6,200		—		6,200

Unsettled consolidated obligation discount notes, at par (2)	—		—		—		1,900		—		1,900

(1)“Expire Within One Year” includes 32 standby letters of credit for a total of $99 and 30 standby letters of credit for a total of $93 as of June 30, 2026 and December 31, 2025, respectively, which have no stated maturity date and are subject to renewal on an annual basis.

The carrying value of the guarantees related to standby letters of credit is recorded in “Other liabilities” on the Statements of Condition and amounted to $169 and $158 as of June 30, 2026 and December 31, 2025, respectively. Based on the Bank’s credit analyses and collateral requirements, the Bank does not deem it necessary to record any additional liability on the Statements of Condition for these commitments as of June 30, 2026 and December 31, 2025.

The Bank may be subject to various legal proceedings and actions from time to time in the ordinary course of its business. After consultation with legal counsel, management does not anticipate that the ultimate liability, if any, arising out of those matters presently known to the Bank will have a material effect on the Bank’s financial condition or results of operations.