суббота, 8 ноября 2008 г.

Federal Home Loan Bank of San Francisco Reports Third Quarter Operating Results

SAN FRANCISCO, Nov 07, 2008 (BUSINESS WIRE) -- The Federal Home Loan Bank of San Francisco today announced that its third quarter 2008 net income fell $34 million, or 25%, to $101 million from $135 million in the third quarter of 2007. For the first nine months of 2008, the Bank's net income rose $143 million, or 34%, to $564 million from $421 million for the first nine months of 2007. For both periods, net interest income increased and other income decreased relative to the year-earlier periods.

The decreases in other income were chiefly due to dramatic increases in short-term interest rates towards the end of the third quarter of 2008, which resulted in significant unrealized net losses associated with derivatives, hedged items, and financial instruments carried at fair value. Net interest income for the third quarter of 2008 rose $146 million, or 59%, to $393 million from $247 million for the third quarter of 2007. Net interest income for the ...
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