Change in FHLB Funding Agreements during the Nine Months Ended September 30, 2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Outstanding Balance at December 31, 2019 | | Issued During the Period | | Repaid During the Period | | Long-term Agreements Maturing Within One Year | | Long-term Agreements Maturing Within Five Years | | Outstanding 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 five | 1,646 | | | — | | | — | | | (490) | | | 112 | | | 1,268 | | Due in more than five years | 646 | | | — | | | — | | | — | | | (112) | | | 534 | | Total long-term funding agreements | 2,292 | | | — | | | — | | | (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, 2019 | | Issued During the Period | | Repaid During the Period | | Long-term agreements maturing within one year | | Long-term Agreements Maturing Within Five Years | | Outstanding 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.
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