Recently Issued and Adopted Accounting Guidance

6 Months Ended

Jun. 30, 2024

Accounting Standards Update and Change in Accounting Principle [Abstract]

Recently Issued Accounting Guidance

Note 2 — Recently Issued and Adopted Accounting Guidance

The following table provides a summary of recently issued and adopted accounting standards that may have an effect on the Bank’s financial statements.

Accounting Standards Update (ASU)	Description	Effective Date	Effect on the Financial Statements or Other Significant Matters
Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07)	This guidance improves reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses, including if an entity only has a single reportable segment.	This guidance becomes effective for the Bank for the annual period ending December 31, 2024, and for interim and annual periods thereafter.	While the adoption of this guidance will not have any effect on the Bank’s financial condition, results of operations, or cash flows, the Bank is in the process of evaluating the impact of this guidance and its effect on the Bank’s disclosures.