EX-99.1 10 dex991.htm COMPUTATION OF RATIO EARNINGS TO FIXED CHARGES, 9/30/07 Computation of Ratio Earnings to Fixed Charges, 9/30/07

EXHIBIT 99.1

Federal Home Loan Bank of San Francisco

Computation of Ratio of Earnings to Fixed Charges

(Unaudited)

 

     Three months ended    Nine months ended
(Dollars in millions)    September 30,
2007		    September 30,
2006		    September 30,
2007		    September 30,
2006

Earnings:

            

Income before assessments

    $ 184    $ 191    $ 573    $ 527

Fixed charges

      3,267      2,854      9,076      7,830
 

Total earnings

    $ 3,451    $ 3,045    $ 9,649    $ 8,357
 

Fixed charges:

            

Interest expense

    $ 3,267    $ 2,854    $ 9,075    $ 7,829

Estimated interest component of net rental expense1

      —      —      1      1
 

Total fixed charges

    $ 3,267    $ 2,854    $ 9,076    $ 7,830
 

Ratio of earnings to fixed charges

      1.06      1.07      1.06      1.07
 

 

(1) Represents an estimated interest factor