v3.26.3
Advances (Reports)
 9 Months Ended
Sep. 30, 2026
Federal Home Loan Banks [Abstract]  
Advances
Note 4 — Advances
Redemption Terms. The following table presents advances outstanding by redemption term and weighted-average interest rate.
(Dollars in millions)September 30, 2026December 31, 2025
Redemption Term
Amount
Outstanding
Weighted
Average
Interest Rate
Amount
Outstanding
Weighted
Average
Interest Rate
Within 1 year
$20,340 4.22 %$22,763 3.85 %
After 1 year through 2 years6,052 4.09 6,476 4.08 
After 2 years through 3 years1,943 3.89 4,218 4.03 
After 3 years through 4 years1,305 3.77 996 3.83 
After 4 years through 5 years669 4.03 1,591 3.68 
After 5 years652 4.33 2,105 3.79 
Total par value30,961 4.16 %38,149 3.90 %
Valuation adjustments for hedging activities(141)8 
Valuation adjustments under fair value option(12)70 
Total$30,808 $38,227 
Carrying amounts exclude accrued interest receivable of $80 million and $67 million at September 30, 2026, and December 31, 2025, respectively.
The following table summarizes advances at September 30, 2026, and December 31, 2025, by the earlier of the year of redemption term or next call date for callable advances and by the earlier of the year of redemption term or next put date for putable advances.
Earlier of Redemption
Term or Next Call Date		Earlier of Redemption
Term or Next Put Date
(In millions)September 30, 2026December 31, 2025September 30, 2026December 31, 2025
Within 1 year$21,540 $24,038 $22,634 $27,533 
After 1 year through 2 years5,052 5,476 5,335 5,272 
After 2 years through 3 years1,943 4,218 981 3,188 
After 3 years through 4 years1,305 996 1,024 577 
After 4 years through 5 years669 1,591 438 1,033 
After 5 years452 1,830 549 546 
Total par value$30,961 $38,149 $30,961 $38,149 
Concentration Risk. The following tables present the concentration in advances by borrowers and their affiliates that is 10% or more of total advances outstanding, or 10% or more of total advance interest income.

September 30, 2026Three Months Ended
September 30, 2026		Nine Months Ended
September 30, 2026
(Dollars in millions)
Name of Borrower
Advances
Outstanding		Percentage of
Total
Advances
Outstanding
Interest
Income from
Advances(1)
Percentage of
Total Interest
Income from
Advances(1)
Interest
Income from
Advances(1)
Percentage of
Total Interest
Income from
Advances(1)
Western Alliance Bank$5,200 17 %$34 10 %$100 9 %

September 30, 2025Three Months Ended
September 30, 2025		Nine Months Ended
September 30, 2025
(Dollars in millions)
Name of Borrower
Advances
Outstanding		Percentage of
Total
Advances
Outstanding
Interest
Income from
Advances(1)
Percentage of
Total Interest
Income from
Advances(1)
Interest
Income from
Advances(1)
Percentage of
Total Interest
Income from
Advances(1)
Western Alliance Bank$3,400 10 %$48 11 %$145 11 %
(1)    Interest income amounts exclude prepayment fees and the interest effect of interest rate exchange agreements with derivative counterparties.
Credit Risk Exposure and Security Terms. At September 30, 2026, and December 31, 2025, the Bank retained a perfected security interest in collateral pledged by each borrowing member, or by the member's affiliate on behalf of the member, and by each nonmember borrower, with an estimated value in excess of the outstanding credit products for that borrower. At September 30, 2026, and December 31, 2025, none of the Bank’s credit products were past due or on nonaccrual status. There were no modifications to credit products related to borrowers experiencing financial difficulty during the nine months ended September 30, 2026 and 2025.
Based on the collateral pledged as security for advances, the Bank’s credit analyses of borrowers’ financial condition, repayment history on advances, and the Bank’s credit extension and collateral policies as of September 30, 2026, and December 31, 2025, the Bank expects to collect all amounts due according to the contractual terms of the advances. Therefore, no allowance for credit losses on advances was deemed necessary by the Bank as of September 30, 2026, and December 31, 2025.
Interest Rate Payment Terms. Interest rate payment terms by redemption term for advances are detailed below:
(In millions)September 30, 2026December 31, 2025
Par value of advances:
Fixed rate:
Due within 1 year$8,584 $10,754 
Due after 1 year9,371 14,386 
Total fixed rate17,955 25,140 
Adjustable rate:
Due within 1 year
11,756 12,009 
Due after 1 year1,250 1,000 
Total adjustable rate13,006 13,009 
Total par value$30,961 $38,149