Federal Home Loan Bank of Atlanta (the Bank) today released preliminary unaudited financial highlights for the quarter ended June 30, 2024. All numbers reported below for the second quarter of 2024 are approximate until the Bank announces unaudited financial results in its Form 10-Q, which is expected to be filed with the Securities and Exchange Commission (SEC) on or about August 9, 2024.

Operating Results for the Second Quarter of 2024

• Net interest income for the second quarter of 2024 was $241 million, increasing slightly, compared to net interest income of $234 million for the same period in 2023. Net income for the second quarter of 2024 was $177 million, remaining relatively stable, compared to net income of $174 million for the same period in 2023. The increase in net interest income and net income are a result of higher average interest rates, partially offset by a decrease in average advance balances.

• The net yield on interest-earning assets for the second quarter of 2024 was 61 basis points, an increase of 16 basis points, compared to 45 basis points for the same period in 2023. Many of the Bank's assets and liabilities are indexed to the Secured Overnight Financing Rate (SOFR). Average daily SOFR during the second quarter of 2024 was 5.32 percent compared to 4.97 percent for the same period in 2023.

• For the three months ended June 30, 2024, average advance balances were $106.6 billion, compared to average advance balances of $154.5 billion for the same period in 2023.

• The Bank's second quarter 2024 performance resulted in an annualized return on average equity (ROE) of 8.12 percent as compared to 7.23 percent for the same period in 2023.

Financial Condition Highlights

• Total assets were $147.0 billion as of June 30, 2024, a decrease of $5.4 billion from December 31, 2023.

• Advances outstanding were $94.2 billion as of June 30, 2024, remaining relatively stable from December 31, 2023.

• Total capital was $8.2 billion as of June 30, 2024, an increase of $101 million from December 31, 2023. Retained earnings increased to $2.7 billion as of June 30, 2024, compared to $2.5 billion as of December 31, 2023.

• As of June 30, 2024, the Bank was in compliance with all applicable regulatory capital and liquidity requirements.

Reliable Source of Liquidity

• During the first six months of 2024, the Bank originated a total of $160.5 billion of advances, thereby providing significant liquidity to its members to support lending and other activities in their communities. The Bank is proud to continue to execute on its mission to be a reliable source of liquidity and funding for its members, while remaining adequately capitalized.

Commitment to Affordable Housing and Community Development

• The Bank commits 10 percent of its income before assessments to support the affordable housing and community development needs of communities served by its members as required by law, which amounted to $72 million for the 2023 statutory Affordable Housing Program (AHP) assessment available for funding in 2024. As of June 30, 2024, the Bank has accrued $41 million to its AHP pool of funds that will be available to the Bank’s members and their communities in 2025 for funding of eligible projects.

• In January 2024, the Bank committed to voluntarily contribute an additional 50 percent of its prior year statutory AHP assessment to affordable housing, authorizing $36 million in voluntary housing contributions consisting of $23 million in voluntary AHP non-statutory contributions and $13 million in voluntary non-AHP contributions. These amounts are anticipated to be expensed during 2024. Together with the $72 million from the 2023 statutory AHP assessment, this will result in a total commitment by the Bank to support affordable housing and community development needs of over $100 million for 2024.

• Since the inception of its AHP in 1990, the Bank has awarded more than $1.2 billion in AHP funds, assisting more than 177,000 households.

⁽¹⁾ Total noninterest expense includes voluntary housing contributions of $10 million and $15 million for the three months ended June 30, 2024 and first six month of 2024, respectively.

The selected financial data above should be read in conjunction with the financial statements and notes and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in the Bank's Second Quarter 2024 Form 10-Q expected to be filed with the SEC on or about August 9, 2024 which will be available at www.fhlbatl.com and on www.sec.gov.