Federal Home Loan Bank Of Dallas 10-Q Quarterly Report November 2020

DALLAS, TEXAS, October 29, 2020 - The Federal Home Loan Bank of Dallas (Bank) today reported net income of $47.7 million for the quarter ended September 30, 2020. In comparison, for the quarters ended June 30, 2020 and September 30, 2019, the Bank reported net income of $67.0 million and $53.1 million, respectively. For the nine months ended September 30, 2020, the Bank reported net income of $166.2 million, as compared to $165.6 million for the nine months ended September 30, 2019.

Total assets at September 30, 2020 were $66.3 billion, compared with $75.0 billion at June 30, 2020 and $75.4 billion at December 31, 2019. The $8.7 billion decrease in total assets for the third quarter was attributable primarily to decreases in the Bank's advances ($4.3 billion), short-term liquidity holdings ($3.3 billion), long-term investments ($0.6 billion) and mortgage loans held for portfolio ($0.3 billion). The $9.1 billion decrease in total assets for the nine months ended September 30, 2020 was attributable primarily to decreases in the Bank's short-term liquidity holdings ($5.9 billion), advances ($2.8 billion) and mortgage loans held for portfolio ($0.4 billion).

Advances totaled $34.3 billion at September 30, 2020, compared with $38.6 billion at June 30, 2020 and $37.1 billion at December 31, 2019. The Bank's mortgage loans held for portfolio totaled $3.7 billion at September 30, 2020, as compared to $4.0 billion at June 30, 2020 and $4.1 billion at December 31, 2019.

The Bank's long-term held-to-maturity securities portfolio, which is comprised substantially of U.S. agency residential mortgage-backed securities (MBS), totaled approximately $1.0 billion at September 30, 2020 compared to $1.1 billion at June 30, 2020 and $1.2 billion at December 31, 2019. The Bank's long-term available-for-sale securities portfolio, which is comprised substantially of U.S. agency debentures and U.S. agency commercial MBS, totaled $17.1 billion at September 30, 2020, as compared to $17.6 billion at June 30, 2020 and $16.8 billion at December 31, 2019. At September 30, 2020, June 30, 2020 and December 31, 2019, the Bank also held a $0.1 billion long-term U.S. Treasury Note classified as trading.

The Bank's short-term liquidity holdings are typically comprised of overnight interest-bearing deposits, overnight federal funds sold, overnight reverse repurchase agreements, U.S. Treasury Bills, U.S. Treasury Notes and, from time to time, may also include cash held at the Federal Reserve. At September 30, 2020, June 30, 2020 and December 31, 2019, the Bank's short-term liquidity holdings totaled $9.9 billion, $13.2 billion and $15.8 billion, respectively.

The following information was filed by Federal Home Loan Bank Of Dallas on Thursday, October 29, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Federal Home Loan Bank Of Dallas provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

CIK: 1331757
Form Type: 10-Q Quarterly Report
Accession Number: 0001331757-20-000034
Submitted to the SEC: Thu Nov 12 2020 3:41:47 PM EST
Accepted by the SEC: Thu Nov 12 2020
Period: Wednesday, September 30, 2020
Industry: Federal And Federally Sponsored Credit Agencies

External Resources:
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Federal Home Loan Bank Of Dallas (1331757) SEC Filing 10-Q Quarterly report for the period ending Wednesday, September 30, 2020

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