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COMMITMENTS AND CONTINGENT LIABILITIES (Tables)
9 Months Ended
Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]  
Activity of Funding Agreements
Change in FHLB Funding Agreements during the Nine Months Ended September 30, 2020
Outstanding Balance at December 31, 2019Issued During the PeriodRepaid During the PeriodLong-term Agreements Maturing Within One YearLong-term Agreements Maturing Within Five YearsOutstanding Balance at September 30, 2020
(in millions)
Short-term funding agreements:
Due in one year or less$4,608 $34,298 $34,358 $490 $ $5,038 
Long-term funding agreements:
Due in years two through five1,646   (490)112 1,268 
Due in more than five years646    (112)534 
Total long-term funding agreements2,292   (490) 1,802 
Total funding agreements (1)$6,900 $34,298 $34,358 $ $ $6,840 
_____________
(1)The $8 million and $9 million difference between the funding agreements carrying value shown in fair value table for September 30, 2020 and December 31, 2019, respectively, reflects the remaining amortization of a hedge implemented and closed, which locked in the funding agreements borrowing rates.
Change in FABN Funding Agreements during the Nine Months Ended September 30, 2020
Outstanding Balance at December 31, 2019Issued During the PeriodRepaid During the PeriodLong-term agreements maturing within one yearLong-term Agreements Maturing Within Five YearsOutstanding Balance at September 30, 2020
(in millions)
Short-term funding agreements:
Due in one year or less $ $ $ $ $ 
Long-term funding agreements:
Due in years two through five— 650    650 
Due in more than five years— 500    500 
Total long-term funding agreements— 1,150    1,150 
Total funding agreements (1)$— $1,150 $ $ $ $1,150 
_____________
(1)The$7 million difference between the funding agreements notional value shown and carrying value table at September 30, 2020, reflects the remaining amortization of the issuance cost of the funding agreements.