Commitments and Contingencies

9 Months Ended

Sep. 30, 2026

Commitments and Contingencies Disclosure [Abstract]

Note 12 — Commitments and Contingencies

Off-balance sheet commitments were as follows:


(In millions)	September 30, 2026		December 31, 2025
Standby letters of credit outstanding	$	20,201	$	20,275
Commitments to fund additional advances	112		—
Commitments to issue consolidated obligation bonds, par	25		—
Commitments to issue consolidated obligation discount notes, par	—		168

The carrying value of guarantees related to standby letters of credit, representing unearned fees and recorded in other liabilities, was $65 million and $63 million at September 30, 2026, and December 31, 2025, respectively. Standby letters of credit are fully collateralized at the time of issuance. Based on the Bank’s credit analyses of members’ financial condition and collateral requirements, the Bank deemed it unnecessary to record any additional liability for credit losses on the letters of credit outstanding or other off-balance sheet commitments as of September 30, 2026, and December 31, 2025.