<BuyBackCalendar>
  <BuybackCalendarName>May 2026 Refunding Tentative Buyback Calendar V1</BuybackCalendarName>
  <StartDate>2026-05-19</StartDate>
  <EndDate>2026-08-11</EndDate>
  <BuybackCalendarDate>
    <PurchaseBucketName>Nominal Coupons 3Y to 5Y</PurchaseBucketName>
    <SecurityType>NOMINAL COUPONS</SecurityType>
    <OperationType>Liquidity Support</OperationType>
    <MinimumPurchaseAmountDollars>0</MinimumPurchaseAmountDollars>
    <MaximumPurchaseAmountDollars>4000000000</MaximumPurchaseAmountDollars>
    <MaturityDateRangeStart>2029-05-20</MaturityDateRangeStart>
    <MaturityDateRangeEnd>2031-05-19</MaturityDateRangeEnd>
    <AnnouncementDate>2026-05-18</AnnouncementDate>
    <OperationDate>2026-05-19</OperationDate>
    <SettlementDate>2026-05-20</SettlementDate>
    <OperationStartTimeEasternUS>13:40</OperationStartTimeEasternUS>
    <OperationEndTimeEasternUS>14:00</OperationEndTimeEasternUS>
  </BuybackCalendarDate>
  <BuybackCalendarDate>
    <PurchaseBucketName>Nominal Coupons 5Y to 7Y</PurchaseBucketName>
    <SecurityType>NOMINAL COUPONS</SecurityType>
    <OperationType>Liquidity Support</OperationType>
    <MinimumPurchaseAmountDollars>0</MinimumPurchaseAmountDollars>
    <MaximumPurchaseAmountDollars>4000000000</MaximumPurchaseAmountDollars>
    <MaturityDateRangeStart>2031-05-22</MaturityDateRangeStart>
    <MaturityDateRangeEnd>2033-05-21</MaturityDateRangeEnd>
    <AnnouncementDate>2026-05-20</AnnouncementDate>
    <OperationDate>2026-05-21</OperationDate>
    <SettlementDate>2026-05-22</SettlementDate>
    <OperationStartTimeEasternUS>13:40</OperationStartTimeEasternUS>
    <OperationEndTimeEasternUS>14:00</OperationEndTimeEasternUS>
  </BuybackCalendarDate>
  <BuybackCalendarDate>
    <PurchaseBucketName>TIPS 10Y to 30Y</PurchaseBucketName>
    <SecurityType>TIPS</SecurityType>
    <OperationType>Liquidity Support</OperationType>
    <MinimumPurchaseAmountDollars>0</MinimumPurchaseAmountDollars>
    <MaximumPurchaseAmountDollars>500000000</MaximumPurchaseAmountDollars>
    <MaturityDateRangeStart>2036-05-29</MaturityDateRangeStart>
    <MaturityDateRangeEnd>2056-05-28</MaturityDateRangeEnd>
    <AnnouncementDate>2026-05-27</AnnouncementDate>
    <OperationDate>2026-05-28</OperationDate>
    <SettlementDate>2026-05-29</SettlementDate>
    <OperationStartTimeEasternUS>13:40</OperationStartTimeEasternUS>
    <OperationEndTimeEasternUS>14:00</OperationEndTimeEasternUS>
  </BuybackCalendarDate>
  <BuybackCalendarDate>
    <PurchaseBucketName>Nominal Coupons 20Y to 30Y</PurchaseBucketName>
    <SecurityType>NOMINAL COUPONS</SecurityType>
    <OperationType>Liquidity Support</OperationType>
    <MinimumPurchaseAmountDollars>0</MinimumPurchaseAmountDollars>
    <MaximumPurchaseAmountDollars>2000000000</MaximumPurchaseAmountDollars>
    <MaturityDateRangeStart>2046-06-04</MaturityDateRangeStart>
    <MaturityDateRangeEnd>2056-06-03</MaturityDateRangeEnd>
    <AnnouncementDate>2026-06-02</AnnouncementDate>
    <OperationDate>2026-06-03</OperationDate>
    <SettlementDate>2026-06-04</SettlementDate>
    <OperationStartTimeEasternUS>13:40</OperationStartTimeEasternUS>
    <OperationEndTimeEasternUS>14:00</OperationEndTimeEasternUS>
  </BuybackCalendarDate>
  <BuybackCalendarDate>
    <PurchaseBucketName>Nominal Coupons 1Mo to 2Y</PurchaseBucketName>
    <SecurityType>NOMINAL COUPONS</SecurityType>
    <OperationType>Cash Management</OperationType>
    <MinimumPurchaseAmountDollars>0</MinimumPurchaseAmountDollars>
    <MaximumPurchaseAmountDollars>12500000000</MaximumPurchaseAmountDollars>
    <MaturityDateRangeStart>2026-07-05</MaturityDateRangeStart>
    <MaturityDateRangeEnd>2028-06-04</MaturityDateRangeEnd>
    <AnnouncementDate>2026-06-03</AnnouncementDate>
    <OperationDate>2026-06-04</OperationDate>
    <SettlementDate>2026-06-05</SettlementDate>
    <OperationStartTimeEasternUS>13:40</OperationStartTimeEasternUS>
    <OperationEndTimeEasternUS>14:00</OperationEndTimeEasternUS>
  </BuybackCalendarDate>
  <BuybackCalendarDate>
    <PurchaseBucketName>Nominal Coupons 10Y to 20Y</PurchaseBucketName>
    <SecurityType>NOMINAL COUPONS</SecurityType>
    <OperationType>Liquidity Support</OperationType>
    <MinimumPurchaseAmountDollars>0</MinimumPurchaseAmountDollars>
    <MaximumPurchaseAmountDollars>2000000000</MaximumPurchaseAmountDollars>
    <MaturityDateRangeStart>2036-06-10</MaturityDateRangeStart>
    <MaturityDateRangeEnd>2046-06-09</MaturityDateRangeEnd>
    <AnnouncementDate>2026-06-08</AnnouncementDate>
    <OperationDate>2026-06-09</OperationDate>
    <SettlementDate>2026-06-10</SettlementDate>
    <OperationStartTimeEasternUS>13:40</OperationStartTimeEasternUS>
    <OperationEndTimeEasternUS>14:00</OperationEndTimeEasternUS>
  </BuybackCalendarDate>
  <BuybackCalendarDate>
    <PurchaseBucketName>Nominal Coupons 1Mo to 2Y</PurchaseBucketName>
    <SecurityType>NOMINAL COUPONS</SecurityType>
    <OperationType>Cash Management</OperationType>
    <MinimumPurchaseAmountDollars>0</MinimumPurchaseAmountDollars>
    <MaximumPurchaseAmountDollars>12500000000</MaximumPurchaseAmountDollars>
    <MaturityDateRangeStart>2026-07-12</MaturityDateRangeStart>
    <MaturityDateRangeEnd>2028-06-11</MaturityDateRangeEnd>
    <AnnouncementDate>2026-06-10</AnnouncementDate>
    <OperationDate>2026-06-11</OperationDate>
    <SettlementDate>2026-06-12</SettlementDate>
    <OperationStartTimeEasternUS>13:40</OperationStartTimeEasternUS>
    <OperationEndTimeEasternUS>14:00</OperationEndTimeEasternUS>
  </BuybackCalendarDate>
  <BuybackCalendarDate>
    <PurchaseBucketName>Nominal Coupons 7Y to 10Y</PurchaseBucketName>
    <SecurityType>NOMINAL COUPONS</SecurityType>
    <OperationType>Liquidity Support</OperationType>
    <MinimumPurchaseAmountDollars>0</MinimumPurchaseAmountDollars>
    <MaximumPurchaseAmountDollars>4000000000</MaximumPurchaseAmountDollars>
    <MaturityDateRangeStart>2033-06-17</MaturityDateRangeStart>
    <MaturityDateRangeEnd>2036-06-16</MaturityDateRangeEnd>
    <AnnouncementDate>2026-06-15</AnnouncementDate>
    <OperationDate>2026-06-16</OperationDate>
    <SettlementDate>2026-06-17</SettlementDate>
    <OperationStartTimeEasternUS>13:40</OperationStartTimeEasternUS>
    <OperationEndTimeEasternUS>14:00</OperationEndTimeEasternUS>
  </BuybackCalendarDate>
  <BuybackCalendarDate>
    <PurchaseBucketName>TIPS 1Y to 10Y</PurchaseBucketName>
    <SecurityType>TIPS</SecurityType>
    <OperationType>Liquidity Support</OperationType>
    <MinimumPurchaseAmountDollars>0</MinimumPurchaseAmountDollars>
    <MaximumPurchaseAmountDollars>750000000</MaximumPurchaseAmountDollars>
    <MaturityDateRangeStart>2027-06-25</MaturityDateRangeStart>
    <MaturityDateRangeEnd>2036-06-24</MaturityDateRangeEnd>
    <AnnouncementDate>2026-06-23</AnnouncementDate>
    <OperationDate>2026-06-24</OperationDate>
    <SettlementDate>2026-06-25</SettlementDate>
    <OperationStartTimeEasternUS>13:40</OperationStartTimeEasternUS>
    <OperationEndTimeEasternUS>14:00</OperationEndTimeEasternUS>
  </BuybackCalendarDate>
  <BuybackCalendarDate>
    <PurchaseBucketName>Nominal Coupons 20Y to 30Y</PurchaseBucketName>
    <SecurityType>NOMINAL COUPONS</SecurityType>
    <OperationType>Liquidity Support</OperationType>
    <MinimumPurchaseAmountDollars>0</MinimumPurchaseAmountDollars>
    <MaximumPurchaseAmountDollars>2000000000</MaximumPurchaseAmountDollars>
    <MaturityDateRangeStart>2046-06-26</MaturityDateRangeStart>
    <MaturityDateRangeEnd>2056-06-25</MaturityDateRangeEnd>
    <AnnouncementDate>2026-06-24</AnnouncementDate>
    <OperationDate>2026-06-25</OperationDate>
    <SettlementDate>2026-06-26</SettlementDate>
    <OperationStartTimeEasternUS>13:40</OperationStartTimeEasternUS>
    <OperationEndTimeEasternUS>14:00</OperationEndTimeEasternUS>
  </BuybackCalendarDate>
  <BuybackCalendarDate>
    <PurchaseBucketName>Nominal Coupons 10Y to 20Y</PurchaseBucketName>
    <SecurityType>NOMINAL COUPONS</SecurityType>
    <OperationType>Liquidity Support</OperationType>
    <MinimumPurchaseAmountDollars>0</MinimumPurchaseAmountDollars>
    <MaximumPurchaseAmountDollars>2000000000</MaximumPurchaseAmountDollars>
    <MaturityDateRangeStart>2036-07-02</MaturityDateRangeStart>
    <MaturityDateRangeEnd>2046-07-01</MaturityDateRangeEnd>
    <AnnouncementDate>2026-06-30</AnnouncementDate>
    <OperationDate>2026-07-01</OperationDate>
    <SettlementDate>2026-07-02</SettlementDate>
    <OperationStartTimeEasternUS>13:40</OperationStartTimeEasternUS>
    <OperationEndTimeEasternUS>14:00</OperationEndTimeEasternUS>
  </BuybackCalendarDate>
  <BuybackCalendarDate>
    <PurchaseBucketName>Nominal Coupons 2Y to 3Y</PurchaseBucketName>
    <SecurityType>NOMINAL COUPONS</SecurityType>
    <OperationType>Liquidity Support</OperationType>
    <MinimumPurchaseAmountDollars>0</MinimumPurchaseAmountDollars>
    <MaximumPurchaseAmountDollars>4000000000</MaximumPurchaseAmountDollars>
    <MaturityDateRangeStart>2028-07-10</MaturityDateRangeStart>
    <MaturityDateRangeEnd>2029-07-09</MaturityDateRangeEnd>
    <AnnouncementDate>2026-07-08</AnnouncementDate>
    <OperationDate>2026-07-09</OperationDate>
    <SettlementDate>2026-07-10</SettlementDate>
    <OperationStartTimeEasternUS>13:40</OperationStartTimeEasternUS>
    <OperationEndTimeEasternUS>14:00</OperationEndTimeEasternUS>
  </BuybackCalendarDate>
  <BuybackCalendarDate>
    <PurchaseBucketName>Nominal Coupons 20Y to 30Y</PurchaseBucketName>
    <SecurityType>NOMINAL COUPONS</SecurityType>
    <OperationType>Liquidity Support</OperationType>
    <MinimumPurchaseAmountDollars>0</MinimumPurchaseAmountDollars>
    <MaximumPurchaseAmountDollars>2000000000</MaximumPurchaseAmountDollars>
    <MaturityDateRangeStart>2046-07-17</MaturityDateRangeStart>
    <MaturityDateRangeEnd>2056-07-16</MaturityDateRangeEnd>
    <AnnouncementDate>2026-07-15</AnnouncementDate>
    <OperationDate>2026-07-16</OperationDate>
    <SettlementDate>2026-07-17</SettlementDate>
    <OperationStartTimeEasternUS>13:40</OperationStartTimeEasternUS>
    <OperationEndTimeEasternUS>14:00</OperationEndTimeEasternUS>
  </BuybackCalendarDate>
  <BuybackCalendarDate>
    <PurchaseBucketName>TIPS 1Y to 10Y</PurchaseBucketName>
    <SecurityType>TIPS</SecurityType>
    <OperationType>Liquidity Support</OperationType>
    <MinimumPurchaseAmountDollars>0</MinimumPurchaseAmountDollars>
    <MaximumPurchaseAmountDollars>750000000</MaximumPurchaseAmountDollars>
    <MaturityDateRangeStart>2027-07-23</MaturityDateRangeStart>
    <MaturityDateRangeEnd>2036-07-22</MaturityDateRangeEnd>
    <AnnouncementDate>2026-07-21</AnnouncementDate>
    <OperationDate>2026-07-22</OperationDate>
    <SettlementDate>2026-07-23</SettlementDate>
    <OperationStartTimeEasternUS>13:40</OperationStartTimeEasternUS>
    <OperationEndTimeEasternUS>14:00</OperationEndTimeEasternUS>
  </BuybackCalendarDate>
  <BuybackCalendarDate>
    <PurchaseBucketName>Nominal Coupons 10Y to 20Y</PurchaseBucketName>
    <SecurityType>NOMINAL COUPONS</SecurityType>
    <OperationType>Liquidity Support</OperationType>
    <MinimumPurchaseAmountDollars>0</MinimumPurchaseAmountDollars>
    <MaximumPurchaseAmountDollars>2000000000</MaximumPurchaseAmountDollars>
    <MaturityDateRangeStart>2036-07-24</MaturityDateRangeStart>
    <MaturityDateRangeEnd>2046-07-23</MaturityDateRangeEnd>
    <AnnouncementDate>2026-07-22</AnnouncementDate>
    <OperationDate>2026-07-23</OperationDate>
    <SettlementDate>2026-07-24</SettlementDate>
    <OperationStartTimeEasternUS>13:40</OperationStartTimeEasternUS>
    <OperationEndTimeEasternUS>14:00</OperationEndTimeEasternUS>
  </BuybackCalendarDate>
  <BuybackCalendarDate>
    <PurchaseBucketName>Nominal Coupons 20Y to 30Y</PurchaseBucketName>
    <SecurityType>NOMINAL COUPONS</SecurityType>
    <OperationType>Liquidity Support</OperationType>
    <MinimumPurchaseAmountDollars>0</MinimumPurchaseAmountDollars>
    <MaximumPurchaseAmountDollars>2000000000</MaximumPurchaseAmountDollars>
    <MaturityDateRangeStart>2046-07-29</MaturityDateRangeStart>
    <MaturityDateRangeEnd>2056-07-28</MaturityDateRangeEnd>
    <AnnouncementDate>2026-07-27</AnnouncementDate>
    <OperationDate>2026-07-28</OperationDate>
    <SettlementDate>2026-07-29</SettlementDate>
    <OperationStartTimeEasternUS>13:40</OperationStartTimeEasternUS>
    <OperationEndTimeEasternUS>14:00</OperationEndTimeEasternUS>
  </BuybackCalendarDate>
  <BuybackCalendarDate>
    <PurchaseBucketName>Nominal Coupons 1Mo to 2Y</PurchaseBucketName>
    <SecurityType>NOMINAL COUPONS</SecurityType>
    <OperationType>Liquidity Support</OperationType>
    <MinimumPurchaseAmountDollars>0</MinimumPurchaseAmountDollars>
    <MaximumPurchaseAmountDollars>4000000000</MaximumPurchaseAmountDollars>
    <MaturityDateRangeStart>2026-09-07</MaturityDateRangeStart>
    <MaturityDateRangeEnd>2028-08-06</MaturityDateRangeEnd>
    <AnnouncementDate>2026-08-05</AnnouncementDate>
    <OperationDate>2026-08-06</OperationDate>
    <SettlementDate>2026-08-07</SettlementDate>
    <OperationStartTimeEasternUS>13:40</OperationStartTimeEasternUS>
    <OperationEndTimeEasternUS>14:00</OperationEndTimeEasternUS>
  </BuybackCalendarDate>
  <BuybackCalendarDate>
    <PurchaseBucketName>Nominal Coupons 10Y to 20Y</PurchaseBucketName>
    <SecurityType>NOMINAL COUPONS</SecurityType>
    <OperationType>Liquidity Support</OperationType>
    <MinimumPurchaseAmountDollars>0</MinimumPurchaseAmountDollars>
    <MaximumPurchaseAmountDollars>2000000000</MaximumPurchaseAmountDollars>
    <MaturityDateRangeStart>2036-08-12</MaturityDateRangeStart>
    <MaturityDateRangeEnd>2046-08-11</MaturityDateRangeEnd>
    <AnnouncementDate>2026-08-10</AnnouncementDate>
    <OperationDate>2026-08-11</OperationDate>
    <SettlementDate>2026-08-12</SettlementDate>
    <OperationStartTimeEasternUS>13:40</OperationStartTimeEasternUS>
    <OperationEndTimeEasternUS>14:00</OperationEndTimeEasternUS>
  </BuybackCalendarDate>
</BuyBackCalendar>