SAN FRANCISCO--(Business Wire)--The Federal Home Loan Bank of San Francisco announced December 31,
2007, that the 11th District Monthly Weighted Average Cost of Funds
Index ("COFI") for November 2007 is 4.172%. The index for October 2007
was 4.233%.
The COFI is computed from the actual interest expense reported for
a given month by the Arizona, California, and Nevada savings
institutions members of the Federal Home Loan Bank of San Francisco
that satisfy the Bank's criteria for inclusion in the COFI ("COFI
Reporting Members"). Changes in interest rates on adjustable rate
mortgage loans offered by many financial institutions are tied to
changes in the COFI.
Although the Federal Home Loan Bank of San Francisco makes a good
faith effort to be accurate in the calculation and publication of the
COFI, the Bank does not warrant, confirm, or guarantee the accuracy of
the data it receives from its COFI Reporting Members, the accuracy of
the COFI calculation, or the accuracy of the COFI as published. The
Bank does not examine the books and records of its COFI Reporting
Members for the purpose of confirming the accuracy of the data they
deliver to the Bank used to calculate the COFI, and the Bank expressly
disclaims all liability that may arise from any use of the COFI or the
use of inaccurate data received from its COFI Reporting Members in
calculating the COFI. In addition, the Bank expressly disclaims any
liability to any person for any inaccuracy in the COFI, regardless of
the cause, or for any resulting damages.
The Bank accepts data for the COFI for a given month from the COFI
Reporting Members until 12 noon California time on the last business
day of the following month and publishes the COFI for that given month
based on data received by that time. The Bank will not revise or
republish the COFI for a given month based on new or corrected data
received after that time and expressly disclaims all liability that
may arise as a result. In addition, although the Bank makes a good
faith effort to publish the COFI on the last business day of the
following month at or after 3 p.m. California time, the Bank does not
guarantee that it will always publish the COFI at that date and time,
and the Bank expressly disclaims any liability for any delay in
publishing the COFI.
Certain corporate activity, such as charter changes or mergers,
may cause the Bank to determine that a financial institution no longer
qualifies as a COFI Reporting Member and will no longer be included in
the COFI. Similarly, if a COFI Reporting Member's Bank membership is
terminated, it will no longer be included in the COFI. The impact of
such removals on the COFI will depend entirely on the amount of
interest expense and total funds of the entity being removed, and may
be significant.
For additional information and disclosures about the calculation
of the COFI, removal of a COFI Reporting Member, and other matters
concerning the COFI, visit the Bank's website at www.fhlbsf.com.
Federal Home Loan Bank of San Francisco
Mary Long, 415-616-2556
longm@fhlbsf.com
Copyright Business Wire 2007
