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INVESTOR RELATIONS

Financial Highlights

This financial data should be read in conjunction with the Bank's 2015 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 11, 2016.

Selected Balance Sheet Items at Yearend

(In millions)                                    

 20152014201320122011
Total Assets $85,707 $75,807

$85,774

$86,421

$113,552

Advances 50,919  38,986

44,395

43,750

68,164

Mortgage Loans Held for Portfolio, Net 655  708

905

1,289

1,829

Investments1 32,275  31,949

35,260

40,528

39,368

Consolidated Obligations:2          
Bonds 51,835  47,045

53,207

70,310

83,350

Discount Notes 27,648  21,811

24,194

5,209

19,152

Mandatorily Redeemable Capital Stock 488  719

2,071

4,343

5,578

Capital Stock — Class B — Putable 2,253  3,278

3,460

4,160

4,795

Unrestricted Retained Earnings 610  294

317

246

Restricted Retained Earnings 2,018  2,065

2,077

2,001

1,803

Accumulated Other Comprehensive Income/(Loss) 15  56

(145)

(794)

(1,893)

Total Capital 4,896  5,693

5,709

5,613

4,705

Selected Operating Results for the Year

(In millions) 

 20152014201320122011
Net Interest Income $477

$539

$482

$848

$1,033

Provision for/(Reversal of) Credit Losses on Mortgage Loans 1 (1) (1) 4
Other Income/(Loss) 388 (154)

5

(164)

(645)

Other Expense 148 144

128

134

126

Assessments 78 36

52

60

42

Net Income/(Loss) $638 $205

$308

$491

$216

Selected Other Data for the Year                

 2015201420132012 2011
Net Interest Margin3  0.57% 0.64%

0.56%

0.84%

0.74%

Operating Expenses as a Percent of Average Assets  0.16  0.16

0.13

0.11

0.08

Return on Average Assets  0.76  0.24

0.35

0.48

0.15

Return on Average Equity  11.68  3.58

5.36

9.44

3.43

Annualized Dividend Rate  12.39  7.02

3.99

0.97

0.29

Dividend Payout Ratio4  57.81  117.29

52.29

9.41

10.16

Average Equity to Average Assets Ratio  6.52  6.75

6.55

5.09

4.49

Selected Other Data at Yearend

 201520142013 20122011
Regulatory Capital Ratio5   6.26%  8.38%

9.24%

12.44%

10.72%

Duration Gap (in months)  1  —

1

(1)

2

  1. Investments consist of securities purchased under agreements to resell, Federal funds sold, trading securities, available-for-sale securities, and held-to-maturity securities.
  2. As provided by the Federal Home Loan Bank Act of 1932, as amended, or regulations governing the operations of the FHLBanks, all of the FHLBanks have joint and several liability for FHLBank consolidated obligations, which are backed only by the financial resources of the FHLBanks. The joint and several liability regulation authorizes the Federal Housing Finance Agency to require any FHLBank to repay all or a portion of the principal or interest on consolidated obligations for which another FHLBank is the primary obligor. The Bank has never been asked or required to repay the principal or interest on any consolidated obligation on behalf of another FHLBank, and as of December 31, 2015, and through March 11, 2016, the filing date of the Bank's 2015 Annual Report on Form 10-K, does not believe that it is probable that it will be asked to do so. The par value of the outstanding consolidated obligations of the FHLBanks at the dates indicated was as follows:
    Yearend20152014201320122011
    Par Value
    (In millions)
     $905,202 $847,175

    $766,837

    $687,902

    $691,868

  3. Net interest margin is net interest income divided by average interest-earning assets.
  4. This ratio is calculated as dividends per share divided by net income per share.
  5. This ratio is calculated as regulatory capital divided by total assets. Regulatory capital includes retained earnings, Class B capital stock, and mandatorily redeemable capital stock (which is classified as a liability), but excludes accumulated other comprehensive income.