EX-99.1

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May 3, 2013

Exhibit 99.1

Cautionary Statement Regarding Forward-

Looking Information

Statements contained in these slides, including statements describing the objectives, projections, estimates, or predictions of the

future of the Bank, may be “forward-looking statements.” These statements may use forward-looking terms, such as “anticipates,”

“believes,” “could,” “estimates,” “may,” “should,” “will,” or their negatives or other variations on these terms. The Federal Home Loan

Bank of Pittsburgh (the Bank) cautions that, by their nature, forward-looking statements involve risk or uncertainty and that actual

results could differ materially from those expressed or implied in these forward-looking statements or could affect the extent to which

a particular objective, projection, estimate, or prediction is realized. These forward-looking statements involve risks and uncertainties

including, but not limited to, the following: economic and market conditions, including, but not limited to, real estate, credit and

mortgage markets; volatility of market prices, rates, and indices related to financial instruments; political, legislative, regulatory,

litigation, or judicial events or actions; changes in assumptions used in the quarterly Other-Than-Temporary Impairment (OTTI)

process; risks related to mortgage-backed securities; changes in the assumptions used in the allowance for credit losses; changes in

the Bank’s capital structure; changes in the Bank’s capital requirements; membership changes; changes in the demand by Bank

members for Bank advances; an increase in advances’ prepayments; competitive forces, including the availability of other sources of

funding for Bank members; changes in investor demand for consolidated obligations and/or the terms of interest rate exchange

agreements and similar agreements; changes in the FHLBank System’s debt rating or the Bank’s rating; the ability of the Bank to

introduce new products and services to meet market demand and to manage successfully the risks associated with new products

and services; the ability of each of the other FHLBanks to repay the principal and interest on consolidated obligations for which it is

the primary obligor and with respect to which the Bank has joint and several liability; applicable Bank policy requirements for retained

earnings and the ratio of the market value of equity to par value of capital stock; the Bank’s ability to maintain adequate capital levels

(including meeting applicable regulatory capital requirements); business and capital plan adjustments and amendments; technology

risks; and timing and volume of market activity. We do not undertake to update any forward-looking information. Some of the data set

forth herein is unaudited.

Over/

2013

2012

(Under)

Net interest income

45.4

42.2

3.2

Provision (benefit) for credit losses

(0.1)

0.1

(0.2)

Net OTTI credit losses

(0.4)

(7.2)

6.8

All other income

4.1

6.8

(2.7)

Other expenses

17.4

17.5

(0.1)

Income before assessments

31.8

24.2

7.6

AHP

3.2

2.4

0.8

Net income

28.6

21.8

6.8

Net interest margin (bps)

(1)

Three months ended March 31,

Financial Highlights –

Statement of Income

(in millions)

Quarterly Net Income

1Qtr 13

4Qtr 12

3Qtr 12

2Qtr 12

1Qtr 12

Net income

28.6

51.7

33.0

23.2

21.8

Net prepayment fees on

advances

1.7

17.5

2.2

7.4

4.7

Net OTTI credit losses

(0.4)

(0.2)

(3.6)

(7.2)

Derivative and hedging activity

1.6

8.1

3.5

(4.9)

4.0

(in millions)

Quarterly Advance Trend

Financial Highlights –

Selected Balance Sheet

Three months ended March 31,

2013

2012

Amount

Average:

Total assets

59,297

53,682

5,615

Advances

36,379

30,586

5,793

Total investments

18,718

18,747

(29)

March 31,

Dec 31,

2013

2012

Amount

Spot:

Advances

39,994

40,498

(504)

(1)

PLMBS (par)

2,760

2,944

(184)

(6)

Retained earnings

586

559

Percent

Over/(Under)

Percent

(in millions)

Capital and Risk-Based Requirements

Mar 31,

Dec 31,

Mar 31,

2013

2012

Permanent capital

(1)

3,787

3,807

3,748

Risk-based capital requirement:

Credit risk capital

662

678

679

Market risk capital

148

114

186

Operations risk capital

243

238

259

Total risk-based capital requirement

1,053

1,030

1,124

Excess permanent capital

2,734

2,777

2,624

Percentage of requirement

360%

370%

333%

Capital ratio (4% minimum)

6.3%

5.9%

7.0%

Leverage ratio (5% minimum)

9.4%

8.8%

10.6%

Market value/capital stock (MV/CS)

118.0%

115.1%

103.9%

(in millions)

(1)

Permanent capital includes excess capital stock of $581, $624, and $1,125 at March 31, 2013,

December 31, 2012 and March 31, 2012, respectively.

Fourth

quarter

2012

capital

classification

“adequately

capitalized.”

However,

our

regulator

has

maintained

concerns

regarding

our

level

retained

earnings

and

the

PLMBS

portfolio.

•

Dividend declared based on first quarter 2013 results

Equal to first quarter 2013 average three-month LIBOR (annual yield of 0.29%)

Based on average stock outstanding for first quarter 2013

Payment date: April 30, 2013

•

Partial excess capital stock repurchase

Excess

capital

stock

repurchased

–

approximately

$400

million

Effective date: April 29, 2013

Payment date: April 30, 2013

•

No significant impact on:

Risk and capital adequacy measures

Members’

excess ownership percentage

•

Decisions for any future repurchases and/or dividend payments will be based on the

following:

Increased retained earnings

PLMBS AOCI levels

Adequate excess regulatory capital

MV/CS > 90%

Positive

GAAP

earnings

which

are

sustainable

for

the

foreseeable

future

Dividend Payment & Excess Stock Repurchase

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May 3, 2013