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Capital (Tables)
 6 Months Ended
Jun. 30, 2024
Banking Regulation, Total Capital [Abstract]  
Schedule of Capital Stock Outstanding by Sub-series The following table presents our capital stock outstanding by sub-series.
Capital Stock Sub-SeriesJune 30, 2024December 31, 2023
Class B-1 1
$569,336 $581,687 
Class B-2 2
1,776,177 1,703,571 
Total Class B$2,345,513 $2,285,258 

1    Non-activity-based stock.
2    Activity-based stock.
Mandatorily Redeemable Capital Stock The following table presents the activity in our MRCS.
Three Months Ended June 30,Six Months Ended June 30,
MRCS Activity2024202320242023
Liability at beginning of period$367,444 $372,487 $369,041 $372,503 
Reclassification from capital stock— — — 13 
Redemptions/repurchases (4,326)(1,865)(5,923)(1,894)
Liability at end of period$363,118 $370,622 $363,118 $370,622 
The following table presents our MRCS by contractual year of redemption. The year of redemption is the later of (i) the final year of the five-year redemption period, or (ii) the first year in which a non-member no longer has an activity-based stock requirement.

MRCS Contractual Year of RedemptionJune 30, 2024December 31, 2023
Past contractual redemption date1
$857 $738 
Year 1 2
12,124 15,047 
Year 216,059 19,179 
Year 33,674 3,674 
Year 4329,245 329,232 
Year 51,159 1,171 
Total MRCS$363,118 $369,041 

1    Balance represents Class B stock that will not be redeemed until the associated credit products or mortgage loans are no longer outstanding.
2    Balance at December 31, 2023 includes $5,175 of Class B stock held by one captive insurance company whose membership was terminated on February 19, 2021. The stock was not past its contractual redemption date, but was redeemed when the associated advances were repaid during the six months ended June 30, 2024.
Schedule of Distributions on Mandatorily Redeemable Capital Stock
The following table presents the distributions related to our MRCS.

Three Months Ended June 30,Six Months Ended June 30,
MRCS Distributions2024202320242023
Recorded as interest expense$5,505 $4,370 $10,848 $8,480 
Recorded as distributions from retained earnings— 1 — 707 
Total$5,505 $4,371 $10,848 $9,187 
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations As presented in the following table, we were in compliance with these Finance Agency capital requirements at June 30, 2024 and December 31, 2023.
June 30, 2024December 31, 2023
Regulatory Capital RequirementsRequiredActualRequiredActual
Risk-based capital$1,150,586$4,332,907$1,277,258$4,186,470
Total regulatory capital$3,169,806$4,332,907$3,064,336$4,186,470
Total regulatory capital-to-assets ratio4.00%5.47%4.00%5.46%
Leverage capital$3,962,258$6,499,360$3,830,420$6,279,705
Leverage ratio5.00%8.20%5.00%8.20%