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INVESTOR RELATIONS

Financial Highlights

This financial data should be read in conjunction with the Bank's 2016 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 10, 2017.

Selected Balance Sheet Items at Yearend

(In millions)                                    

 20162015201420132012
Total Assets  $91,941 $85,698 $75,807

$85,774

$86,421

Advances  49,845 50,919  38,986

44,395

43,750

Mortgage Loans Held for Portfolio, Net 826 655  708

905

1,289

Investments1  40,986 32,275  31,949

35,260

40,528

Consolidated Obligations:2          
Bonds  50,224 51,827  47,045

53,207

70,310

Discount Notes  33,506 27,647  21,811

24,194

5,209

Mandatorily Redeemable Capital Stock  457 488  719

2,071

4,343

Capital Stock — Class B — Putable  2,370 2,253  3,278

3,460

4,160

Unrestricted Retained Earnings  888 610  294

317

246

Restricted Retained Earnings  2,168 2,018  2,065

2,077

2,001

Accumulated Other Comprehensive Income/(Loss)  111 15  56

(145)

(794)

Total Capital  5,537 4,896  5,693

5,709

5,613

Selected Operating Results for the Year

(In millions) 

 20162015201420132012
Net Interest Income $471 $477

$539

$482

$848

Provision for/(Reversal of) Credit Losses on Mortgage Loans 1 (1) (1)
Other Income/(Loss) 485 388 (154)

5

(164)

Other Expense 158 148 144

128

134

Assessments 86 78 36

52

60

Net Income/(Loss) $712 $638 $205 $308 $491

Selected Other Data for the Year                

 20162015201420132012
Net Interest Margin3 0.52%  0.57% 0.64%

0.56%

0.84%

Operating Expenses as a Percent of Average Assets 0.16  0.16  0.16

0.13

0.11

Return on Average Assets 0.77  0.76  0.24

0.35

0.48

Return on Average Equity 13.63  11.68  3.58

5.36

9.44

Annualized Dividend Rate 12.33  12.39  7.02

3.99

0.97

Dividend Payout Ratio4 39.98  57.81  117.29

52.29

9.41

Average Equity to Average Assets Ratio 5.68  6.52  6.75

6.55

5.09

Selected Other Data at Yearend

 20162015201420132012
Regulatory Capital Ratio5  6.40%  6.26%  8.38%

9.24%

12.44%

Duration Gap (in months) 1  1  —

1

(1)

  1. Investments consist of interest-bearing deposits, securities purchased under agreements to resell, Federal funds sold, trading securities, available-for-sale securities, and held-to-maturity securities.
  2. As provided by the Federal Home Loan Bank Act of 1932, as amended, or regulations governing the operations of the FHLBanks, all of the FHLBanks have joint and several liability for FHLBank consolidated obligations, which are backed only by the financial resources of the FHLBanks. The joint and several liability regulation authorizes the Federal Housing Finance Agency to require any FHLBank to repay all or a portion of the principal or interest on consolidated obligations for which another FHLBank is the primary obligor. The Bank has never been asked or required to repay the principal or interest on any consolidated obligation on behalf of another FHLBank, and as of December 31, 2016, and through March 10, 2017, the filing date of the Bank's 2016 Annual Report on Form 10-K, does not believe that it is probable that it will be asked to do so. The par value of the outstanding consolidated obligations of all FHLBanks at the dates indicated was as follows:
    Yearend20162015201420132012
    Par Value
    (In millions)
    $989,311  $905,202 $847,175

    $766,837

    $687,902

  3. Net interest margin is net interest income divided by average interest-earning assets.
  4. This ratio is calculated as dividends per share divided by net income per share.
  5. This ratio is calculated as regulatory capital divided by total assets. Regulatory capital includes retained earnings, Class B capital stock, and mandatorily redeemable capital stock (which is classified as a liability), but excludes accumulated other comprehensive income.