<?xml version="1.0" encoding="US-ASCII"?>
<!--XBRL Document Created with WebFilings-->
<link:linkbase xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" xlink:type="simple" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/netLabel" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" xlink:type="simple" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" xlink:type="simple" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" xlink:type="simple" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" xlink:type="simple" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" xlink:type="simple" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" xlink:type="simple" />
  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_F6E468CB5505927F96A0659EBC5254F4_label_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract_F6E468CB5505927F96A0659EBC5254F4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="loc_us-gaap_StatementOfCashFlowsAbstract_F6E468CB5505927F96A0659EBC5254F4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract_F6E468CB5505927F96A0659EBC5254F4" xlink:to="lab_us-gaap_StatementOfCashFlowsAbstract_F6E468CB5505927F96A0659EBC5254F4" xlink:type="arc" />
    <link:label id="lab_us-gaap_StatementTable_01C322496B479B7880B6659EC088B38A_terseLabel_en-US" xlink:label="lab_us-gaap_StatementTable_01C322496B479B7880B6659EC088B38A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement [Table]</link:label>
    <link:label id="lab_us-gaap_StatementTable_01C322496B479B7880B6659EC088B38A_label_en-US" xlink:label="lab_us-gaap_StatementTable_01C322496B479B7880B6659EC088B38A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_01C322496B479B7880B6659EC088B38A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementTable_01C322496B479B7880B6659EC088B38A" xlink:to="lab_us-gaap_StatementTable_01C322496B479B7880B6659EC088B38A" xlink:type="arc" />
    <link:label id="lab_us-gaap_StatementScenarioAxis_7F9835DB2B3C84523E66659EC0889095_terseLabel_en-US" xlink:label="lab_us-gaap_StatementScenarioAxis_7F9835DB2B3C84523E66659EC0889095" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement, Scenario [Axis]</link:label>
    <link:label id="lab_us-gaap_StatementScenarioAxis_7F9835DB2B3C84523E66659EC0889095_label_en-US" xlink:label="lab_us-gaap_StatementScenarioAxis_7F9835DB2B3C84523E66659EC0889095" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement, Scenario [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementScenarioAxis" xlink:label="loc_us-gaap_StatementScenarioAxis_7F9835DB2B3C84523E66659EC0889095" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementScenarioAxis_7F9835DB2B3C84523E66659EC0889095" xlink:to="lab_us-gaap_StatementScenarioAxis_7F9835DB2B3C84523E66659EC0889095" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScenarioUnspecifiedDomain_F7FB672E4CAC2822D529659EC088C112_terseLabel_en-US" xlink:label="lab_us-gaap_ScenarioUnspecifiedDomain_F7FB672E4CAC2822D529659EC088C112" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Scenario, Unspecified [Domain]</link:label>
    <link:label id="lab_us-gaap_ScenarioUnspecifiedDomain_F7FB672E4CAC2822D529659EC088C112_label_en-US" xlink:label="lab_us-gaap_ScenarioUnspecifiedDomain_F7FB672E4CAC2822D529659EC088C112" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Scenario, Unspecified [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:label="loc_us-gaap_ScenarioUnspecifiedDomain_F7FB672E4CAC2822D529659EC088C112" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScenarioUnspecifiedDomain_F7FB672E4CAC2822D529659EC088C112" xlink:to="lab_us-gaap_ScenarioUnspecifiedDomain_F7FB672E4CAC2822D529659EC088C112" xlink:type="arc" />
    <link:label id="lab_us-gaap_StatementLineItems_ADF4618ADD9977DB7FF5659EC08874C4_terseLabel_en-US" xlink:label="lab_us-gaap_StatementLineItems_ADF4618ADD9977DB7FF5659EC08874C4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement [Line Items]</link:label>
    <link:label id="lab_us-gaap_StatementLineItems_ADF4618ADD9977DB7FF5659EC08874C4_label_en-US" xlink:label="lab_us-gaap_StatementLineItems_ADF4618ADD9977DB7FF5659EC08874C4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_ADF4618ADD9977DB7FF5659EC08874C4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementLineItems_ADF4618ADD9977DB7FF5659EC08874C4" xlink:to="lab_us-gaap_StatementLineItems_ADF4618ADD9977DB7FF5659EC08874C4" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_844FF5BA30E1688FBED865A0D6D70A5F_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_844FF5BA30E1688FBED865A0D6D70A5F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash Flows from Operating Activities:</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_844FF5BA30E1688FBED865A0D6D70A5F_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_844FF5BA30E1688FBED865A0D6D70A5F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_844FF5BA30E1688FBED865A0D6D70A5F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_844FF5BA30E1688FBED865A0D6D70A5F" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_844FF5BA30E1688FBED865A0D6D70A5F" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_F5F64B0F379E706371177FB9488F71B6_terseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_F5F64B0F379E706371177FB9488F71B6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net Income/(Loss)</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_F5F64B0F379E706371177FB9488F71B6_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_F5F64B0F379E706371177FB9488F71B6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Available to Common Stockholders, Basic</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_F5F64B0F379E706371177FB9488F71B6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_F5F64B0F379E706371177FB9488F71B6" xlink:to="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_F5F64B0F379E706371177FB9488F71B6" xlink:type="arc" />
    <link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_E8949E8523E62FE213EA65A409D28712_terseLabel_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_E8949E8523E62FE213EA65A409D28712" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustments to reconcile net income/(loss) to net cash provided by operating activities:</link:label>
    <link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_E8949E8523E62FE213EA65A409D28712_label_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_E8949E8523E62FE213EA65A409D28712" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_E8949E8523E62FE213EA65A409D28712" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_E8949E8523E62FE213EA65A409D28712" xlink:to="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_E8949E8523E62FE213EA65A409D28712" xlink:type="arc" />
    <link:label id="lab_us-gaap_DepreciationAmortizationAndAccretionNet_906DE54C741B146D1CC76610FACAF55E_negatedLabel_en-US" xlink:label="lab_us-gaap_DepreciationAmortizationAndAccretionNet_906DE54C741B146D1CC76610FACAF55E" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:label id="lab_us-gaap_DepreciationAmortizationAndAccretionNet_906DE54C741B146D1CC76610FACAF55E_label_en-US" xlink:label="lab_us-gaap_DepreciationAmortizationAndAccretionNet_906DE54C741B146D1CC76610FACAF55E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation, Amortization and Accretion, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DepreciationAmortizationAndAccretionNet" xlink:label="loc_us-gaap_DepreciationAmortizationAndAccretionNet_906DE54C741B146D1CC76610FACAF55E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepreciationAmortizationAndAccretionNet_906DE54C741B146D1CC76610FACAF55E" xlink:to="lab_us-gaap_DepreciationAmortizationAndAccretionNet_906DE54C741B146D1CC76610FACAF55E" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProvisionForLoanAndLeaseLosses_557A846B718C8E54D57675AE53F20CD0_terseLabel_en-US" xlink:label="lab_us-gaap_ProvisionForLoanAndLeaseLosses_557A846B718C8E54D57675AE53F20CD0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Provision for credit losses on mortgage loans</link:label>
    <link:label id="lab_us-gaap_ProvisionForLoanAndLeaseLosses_557A846B718C8E54D57675AE53F20CD0_label_en-US" xlink:label="lab_us-gaap_ProvisionForLoanAndLeaseLosses_557A846B718C8E54D57675AE53F20CD0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Provision for Loan and Lease Losses</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProvisionForLoanAndLeaseLosses" xlink:label="loc_us-gaap_ProvisionForLoanAndLeaseLosses_557A846B718C8E54D57675AE53F20CD0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProvisionForLoanAndLeaseLosses_557A846B718C8E54D57675AE53F20CD0" xlink:to="lab_us-gaap_ProvisionForLoanAndLeaseLosses_557A846B718C8E54D57675AE53F20CD0" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProvisionForLoanLossesExpensed_2D9DB85B2E0F668F6A0319BE736DC62C_terseLabel_en-US" xlink:label="lab_us-gaap_ProvisionForLoanLossesExpensed_2D9DB85B2E0F668F6A0319BE736DC62C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Provision for credit losses on mortgage loans</link:label>
    <link:label id="lab_us-gaap_ProvisionForLoanLossesExpensed_2D9DB85B2E0F668F6A0319BE736DC62C_label_en-US" xlink:label="lab_us-gaap_ProvisionForLoanLossesExpensed_2D9DB85B2E0F668F6A0319BE736DC62C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Provision for Loan Losses Expensed</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProvisionForLoanLossesExpensed" xlink:label="loc_us-gaap_ProvisionForLoanLossesExpensed_2D9DB85B2E0F668F6A0319BE736DC62C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProvisionForLoanLossesExpensed_2D9DB85B2E0F668F6A0319BE736DC62C" xlink:to="lab_us-gaap_ProvisionForLoanLossesExpensed_2D9DB85B2E0F668F6A0319BE736DC62C" xlink:type="arc" />
    <link:label id="lab_us-gaap_TradingSecuritiesUnrealizedHoldingGainLoss_2FE7FB59C36753FC02B566485A53BBA2_negatedLabel_en-US" xlink:label="lab_us-gaap_TradingSecuritiesUnrealizedHoldingGainLoss_2FE7FB59C36753FC02B566485A53BBA2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Change in net fair value adjustment on trading securities</link:label>
    <link:label id="lab_us-gaap_TradingSecuritiesUnrealizedHoldingGainLoss_2FE7FB59C36753FC02B566485A53BBA2_label_en-US" xlink:label="lab_us-gaap_TradingSecuritiesUnrealizedHoldingGainLoss_2FE7FB59C36753FC02B566485A53BBA2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Securities, Change in Unrealized Holding Gain (Loss)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TradingSecuritiesUnrealizedHoldingGainLoss" xlink:label="loc_us-gaap_TradingSecuritiesUnrealizedHoldingGainLoss_2FE7FB59C36753FC02B566485A53BBA2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TradingSecuritiesUnrealizedHoldingGainLoss_2FE7FB59C36753FC02B566485A53BBA2" xlink:to="lab_us-gaap_TradingSecuritiesUnrealizedHoldingGainLoss_2FE7FB59C36753FC02B566485A53BBA2" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInFairValueAdjustmentsOnAssetsAndLiabilitiesCarriedAtFairValueUnderFairValueOption_227F0D0DFAFB3F371AC88F42ECDF657B_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInFairValueAdjustmentsOnAssetsAndLiabilitiesCarriedAtFairValueUnderFairValueOption_227F0D0DFAFB3F371AC88F42ECDF657B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in net fair value adjustment on advances and consolidated obligation bonds held under fair value option</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInFairValueAdjustmentsOnAssetsAndLiabilitiesCarriedAtFairValueUnderFairValueOption_227F0D0DFAFB3F371AC88F42ECDF657B_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInFairValueAdjustmentsOnAssetsAndLiabilitiesCarriedAtFairValueUnderFairValueOption_227F0D0DFAFB3F371AC88F42ECDF657B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Fair Value Adjustments on Assets and Liabilities Carried at Fair Value under Fair Value Option</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInFairValueAdjustmentsOnAssetsAndLiabilitiesCarriedAtFairValueUnderFairValueOption" xlink:label="loc_us-gaap_IncreaseDecreaseInFairValueAdjustmentsOnAssetsAndLiabilitiesCarriedAtFairValueUnderFairValueOption_227F0D0DFAFB3F371AC88F42ECDF657B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInFairValueAdjustmentsOnAssetsAndLiabilitiesCarriedAtFairValueUnderFairValueOption_227F0D0DFAFB3F371AC88F42ECDF657B" xlink:to="lab_us-gaap_IncreaseDecreaseInFairValueAdjustmentsOnAssetsAndLiabilitiesCarriedAtFairValueUnderFairValueOption_227F0D0DFAFB3F371AC88F42ECDF657B" xlink:type="arc" />
    <link:label id="lab_us-gaap_UnrealizedGainLossOnDerivatives_9C9F36EE6735D6A9AB466648F59AF21C_negatedLabel_en-US" xlink:label="lab_us-gaap_UnrealizedGainLossOnDerivatives_9C9F36EE6735D6A9AB466648F59AF21C" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Change in net derivatives and hedging activities</link:label>
    <link:label id="lab_us-gaap_UnrealizedGainLossOnDerivatives_9C9F36EE6735D6A9AB466648F59AF21C_label_en-US" xlink:label="lab_us-gaap_UnrealizedGainLossOnDerivatives_9C9F36EE6735D6A9AB466648F59AF21C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unrealized Gain (Loss) on Derivatives</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_UnrealizedGainLossOnDerivatives" xlink:label="loc_us-gaap_UnrealizedGainLossOnDerivatives_9C9F36EE6735D6A9AB466648F59AF21C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrealizedGainLossOnDerivatives_9C9F36EE6735D6A9AB466648F59AF21C" xlink:to="lab_us-gaap_UnrealizedGainLossOnDerivatives_9C9F36EE6735D6A9AB466648F59AF21C" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet_CCF42DA7F9ECDE44E92575B9719BF4C3_negatedLabel_en-US" xlink:label="lab_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet_CCF42DA7F9ECDE44E92575B9719BF4C3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Net OTTI loss recognized in income, credit-related</link:label>
    <link:label id="lab_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet_CCF42DA7F9ECDE44E92575B9719BF4C3_label_en-US" xlink:label="lab_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet_CCF42DA7F9ECDE44E92575B9719BF4C3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet" xlink:label="loc_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet_CCF42DA7F9ECDE44E92575B9719BF4C3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet_CCF42DA7F9ECDE44E92575B9719BF4C3" xlink:to="lab_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet_CCF42DA7F9ECDE44E92575B9719BF4C3" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherNoncashIncomeExpense_AC627BAA203D6F184FDF664A55988218_terseLabel_en-US" xlink:label="lab_us-gaap_OtherNoncashIncomeExpense_AC627BAA203D6F184FDF664A55988218" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other adjustments</link:label>
    <link:label id="lab_us-gaap_OtherNoncashIncomeExpense_AC627BAA203D6F184FDF664A55988218_label_en-US" xlink:label="lab_us-gaap_OtherNoncashIncomeExpense_AC627BAA203D6F184FDF664A55988218" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Noncash Income (Expense)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherNoncashIncomeExpense" xlink:label="loc_us-gaap_OtherNoncashIncomeExpense_AC627BAA203D6F184FDF664A55988218" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherNoncashIncomeExpense_AC627BAA203D6F184FDF664A55988218" xlink:to="lab_us-gaap_OtherNoncashIncomeExpense_AC627BAA203D6F184FDF664A55988218" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_F130AF45B26C2FEEF8E5664AD642A2AB_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_F130AF45B26C2FEEF8E5664AD642A2AB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net change in:</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_F130AF45B26C2FEEF8E5664AD642A2AB_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_F130AF45B26C2FEEF8E5664AD642A2AB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Operating Capital [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_F130AF45B26C2FEEF8E5664AD642A2AB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_F130AF45B26C2FEEF8E5664AD642A2AB" xlink:to="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_F130AF45B26C2FEEF8E5664AD642A2AB" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet_EA0D0F3821C8F23C4964664C3E6E1E66_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet_EA0D0F3821C8F23C4964664C3E6E1E66" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Accrued interest receivable</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet_EA0D0F3821C8F23C4964664C3E6E1E66_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet_EA0D0F3821C8F23C4964664C3E6E1E66" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Accrued Interest Receivable, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet" xlink:label="loc_us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet_EA0D0F3821C8F23C4964664C3E6E1E66" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet_EA0D0F3821C8F23C4964664C3E6E1E66" xlink:to="lab_us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet_EA0D0F3821C8F23C4964664C3E6E1E66" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_93FDE61A51E453C53914664E600816A3_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_93FDE61A51E453C53914664E600816A3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_93FDE61A51E453C53914664E600816A3_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_93FDE61A51E453C53914664E600816A3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Other Operating Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_93FDE61A51E453C53914664E600816A3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_93FDE61A51E453C53914664E600816A3" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_93FDE61A51E453C53914664E600816A3" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInInterestPayableNet_3E373E5FA2BB3CD70AB4664EA85C0B5B_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInInterestPayableNet_3E373E5FA2BB3CD70AB4664EA85C0B5B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued interest payable</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInInterestPayableNet_3E373E5FA2BB3CD70AB4664EA85C0B5B_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInInterestPayableNet_3E373E5FA2BB3CD70AB4664EA85C0B5B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Interest Payable, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInInterestPayableNet" xlink:label="loc_us-gaap_IncreaseDecreaseInInterestPayableNet_3E373E5FA2BB3CD70AB4664EA85C0B5B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInInterestPayableNet_3E373E5FA2BB3CD70AB4664EA85C0B5B" xlink:to="lab_us-gaap_IncreaseDecreaseInInterestPayableNet_3E373E5FA2BB3CD70AB4664EA85C0B5B" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_1D52E485754628A2F2EF664F20B9D4E6_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_1D52E485754628A2F2EF664F20B9D4E6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other liabilities</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_1D52E485754628A2F2EF664F20B9D4E6_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_1D52E485754628A2F2EF664F20B9D4E6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Other Operating Liabilities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_1D52E485754628A2F2EF664F20B9D4E6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_1D52E485754628A2F2EF664F20B9D4E6" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_1D52E485754628A2F2EF664F20B9D4E6" xlink:type="arc" />
    <link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities_ADDF3BF143CCBCDE41269948B845561C_totalLabel_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities_ADDF3BF143CCBCDE41269948B845561C" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total adjustments</link:label>
    <link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities_ADDF3BF143CCBCDE41269948B845561C_label_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities_ADDF3BF143CCBCDE41269948B845561C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities" xlink:label="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities_ADDF3BF143CCBCDE41269948B845561C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities_ADDF3BF143CCBCDE41269948B845561C" xlink:to="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities_ADDF3BF143CCBCDE41269948B845561C" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations_89A2DF64E57F7B1736DE19D05E8ED727_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations_89A2DF64E57F7B1736DE19D05E8ED727" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by/(used in) operating activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations_89A2DF64E57F7B1736DE19D05E8ED727_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations_89A2DF64E57F7B1736DE19D05E8ED727" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities, Continuing Operations</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations_89A2DF64E57F7B1736DE19D05E8ED727" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations_89A2DF64E57F7B1736DE19D05E8ED727" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations_89A2DF64E57F7B1736DE19D05E8ED727" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_EA6279ED6BC775BD0B5866562B2D477A_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_EA6279ED6BC775BD0B5866562B2D477A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash Flows from Investing Activities:</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_EA6279ED6BC775BD0B5866562B2D477A_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_EA6279ED6BC775BD0B5866562B2D477A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Investing Activities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_EA6279ED6BC775BD0B5866562B2D477A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_EA6279ED6BC775BD0B5866562B2D477A" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_EA6279ED6BC775BD0B5866562B2D477A" xlink:type="arc" />
    <link:label id="lab_fhlbsf_IncreaseDecreaseInInvestingActivitiesAbstractAbstract_5A27C584C57C4CE6020F75BC5EC15140_terseLabel_en-US" xlink:label="lab_fhlbsf_IncreaseDecreaseInInvestingActivitiesAbstractAbstract_5A27C584C57C4CE6020F75BC5EC15140" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net change in:</link:label>
    <link:label id="lab_fhlbsf_IncreaseDecreaseInInvestingActivitiesAbstractAbstract_5A27C584C57C4CE6020F75BC5EC15140_label_en-US" xlink:label="lab_fhlbsf_IncreaseDecreaseInInvestingActivitiesAbstractAbstract_5A27C584C57C4CE6020F75BC5EC15140" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase Decrease In Investing Activities Abstract [Abstract]</link:label>
    <link:label id="lab_fhlbsf_IncreaseDecreaseInInvestingActivitiesAbstractAbstract_5A27C584C57C4CE6020F75BC5EC15140_documentation_en-US" xlink:label="lab_fhlbsf_IncreaseDecreaseInInvestingActivitiesAbstractAbstract_5A27C584C57C4CE6020F75BC5EC15140" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">-- None. No documentation exists for this element. --</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_IncreaseDecreaseInInvestingActivitiesAbstractAbstract" xlink:label="loc_fhlbsf_IncreaseDecreaseInInvestingActivitiesAbstractAbstract_5A27C584C57C4CE6020F75BC5EC15140" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_IncreaseDecreaseInInvestingActivitiesAbstractAbstract_5A27C584C57C4CE6020F75BC5EC15140" xlink:to="lab_fhlbsf_IncreaseDecreaseInInvestingActivitiesAbstractAbstract_5A27C584C57C4CE6020F75BC5EC15140" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromPaymentsForInInterestBearingDepositsInBanks_4BC3766D03EB7CABEBF80FDBC8E40770_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromPaymentsForInInterestBearingDepositsInBanks_4BC3766D03EB7CABEBF80FDBC8E40770" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest-bearing deposits</link:label>
    <link:label id="lab_us-gaap_ProceedsFromPaymentsForInInterestBearingDepositsInBanks_4BC3766D03EB7CABEBF80FDBC8E40770_label_en-US" xlink:label="lab_us-gaap_ProceedsFromPaymentsForInInterestBearingDepositsInBanks_4BC3766D03EB7CABEBF80FDBC8E40770" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from (Payments for) in Interest-bearing Deposits in Banks</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromPaymentsForInInterestBearingDepositsInBanks" xlink:label="loc_us-gaap_ProceedsFromPaymentsForInInterestBearingDepositsInBanks_4BC3766D03EB7CABEBF80FDBC8E40770" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromPaymentsForInInterestBearingDepositsInBanks_4BC3766D03EB7CABEBF80FDBC8E40770" xlink:to="lab_us-gaap_ProceedsFromPaymentsForInInterestBearingDepositsInBanks_4BC3766D03EB7CABEBF80FDBC8E40770" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromPaymentsForSecuritiesPurchasedUnderAgreementsToResell_6BA2A93C7D2AE4FFB6640FDD68F11BE8_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromPaymentsForSecuritiesPurchasedUnderAgreementsToResell_6BA2A93C7D2AE4FFB6640FDD68F11BE8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Securities purchased under agreements to resell</link:label>
    <link:label id="lab_us-gaap_ProceedsFromPaymentsForSecuritiesPurchasedUnderAgreementsToResell_6BA2A93C7D2AE4FFB6640FDD68F11BE8_label_en-US" xlink:label="lab_us-gaap_ProceedsFromPaymentsForSecuritiesPurchasedUnderAgreementsToResell_6BA2A93C7D2AE4FFB6640FDD68F11BE8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from (Payments for) Securities Purchased under Agreements to Resell</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromPaymentsForSecuritiesPurchasedUnderAgreementsToResell" xlink:label="loc_us-gaap_ProceedsFromPaymentsForSecuritiesPurchasedUnderAgreementsToResell_6BA2A93C7D2AE4FFB6640FDD68F11BE8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromPaymentsForSecuritiesPurchasedUnderAgreementsToResell_6BA2A93C7D2AE4FFB6640FDD68F11BE8" xlink:to="lab_us-gaap_ProceedsFromPaymentsForSecuritiesPurchasedUnderAgreementsToResell_6BA2A93C7D2AE4FFB6640FDD68F11BE8" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInFederalFundsSold_6FF5E944B0E7338820D26657DC97AE97_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInFederalFundsSold_6FF5E944B0E7338820D26657DC97AE97" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Federal funds sold</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInFederalFundsSold_6FF5E944B0E7338820D26657DC97AE97_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInFederalFundsSold_6FF5E944B0E7338820D26657DC97AE97" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Federal Funds Sold</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInFederalFundsSold" xlink:label="loc_us-gaap_IncreaseDecreaseInFederalFundsSold_6FF5E944B0E7338820D26657DC97AE97" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInFederalFundsSold_6FF5E944B0E7338820D26657DC97AE97" xlink:to="lab_us-gaap_IncreaseDecreaseInFederalFundsSold_6FF5E944B0E7338820D26657DC97AE97" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInLoansToFederalHomeLoanBanks_13F222AFE4598122D66C8F55286985EF_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInLoansToFederalHomeLoanBanks_13F222AFE4598122D66C8F55286985EF" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Loans to other Federal Home Loan Banks</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInLoansToFederalHomeLoanBanks_13F222AFE4598122D66C8F55286985EF_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInLoansToFederalHomeLoanBanks_13F222AFE4598122D66C8F55286985EF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Loans to Federal Home Loan Banks</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInLoansToFederalHomeLoanBanks" xlink:label="loc_us-gaap_IncreaseDecreaseInLoansToFederalHomeLoanBanks_13F222AFE4598122D66C8F55286985EF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInLoansToFederalHomeLoanBanks_13F222AFE4598122D66C8F55286985EF" xlink:to="lab_us-gaap_IncreaseDecreaseInLoansToFederalHomeLoanBanks_13F222AFE4598122D66C8F55286985EF" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsForProceedsFromProductiveAssets_A37D29EFF4043DD3E6236658D8BB7890_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromProductiveAssets_A37D29EFF4043DD3E6236658D8BB7890" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Premises, software and equipment</link:label>
    <link:label id="lab_us-gaap_PaymentsForProceedsFromProductiveAssets_A37D29EFF4043DD3E6236658D8BB7890_label_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromProductiveAssets_A37D29EFF4043DD3E6236658D8BB7890" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for (Proceeds from) Productive Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsForProceedsFromProductiveAssets" xlink:label="loc_us-gaap_PaymentsForProceedsFromProductiveAssets_A37D29EFF4043DD3E6236658D8BB7890" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForProceedsFromProductiveAssets_A37D29EFF4043DD3E6236658D8BB7890" xlink:to="lab_us-gaap_PaymentsForProceedsFromProductiveAssets_A37D29EFF4043DD3E6236658D8BB7890" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsToAcquireInvestmentsAbstract_1C42260B9E54EEDE4E716676351F2FAC_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireInvestmentsAbstract_1C42260B9E54EEDE4E716676351F2FAC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trading securities:</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireInvestmentsAbstract_1C42260B9E54EEDE4E716676351F2FAC_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireInvestmentsAbstract_1C42260B9E54EEDE4E716676351F2FAC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Investments [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquireInvestmentsAbstract" xlink:label="loc_us-gaap_PaymentsToAcquireInvestmentsAbstract_1C42260B9E54EEDE4E716676351F2FAC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireInvestmentsAbstract_1C42260B9E54EEDE4E716676351F2FAC" xlink:to="lab_us-gaap_PaymentsToAcquireInvestmentsAbstract_1C42260B9E54EEDE4E716676351F2FAC" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromSaleAndMaturityOfTradingSecuritiesHeldforinvestment_38C56252E203DA7633A4665D5D2DD2AC_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleAndMaturityOfTradingSecuritiesHeldforinvestment_38C56252E203DA7633A4665D5D2DD2AC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from maturities of long-term</link:label>
    <link:label id="lab_us-gaap_ProceedsFromSaleAndMaturityOfTradingSecuritiesHeldforinvestment_38C56252E203DA7633A4665D5D2DD2AC_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleAndMaturityOfTradingSecuritiesHeldforinvestment_38C56252E203DA7633A4665D5D2DD2AC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Sale and Maturity of Trading Securities Held-for-investment</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromSaleAndMaturityOfTradingSecuritiesHeldforinvestment" xlink:label="loc_us-gaap_ProceedsFromSaleAndMaturityOfTradingSecuritiesHeldforinvestment_38C56252E203DA7633A4665D5D2DD2AC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleAndMaturityOfTradingSecuritiesHeldforinvestment_38C56252E203DA7633A4665D5D2DD2AC" xlink:to="lab_us-gaap_ProceedsFromSaleAndMaturityOfTradingSecuritiesHeldforinvestment_38C56252E203DA7633A4665D5D2DD2AC" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsToAcquireTradingSecuritiesHeldforinvestment_3D7129C0FE7417C5F195665E088155A5_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireTradingSecuritiesHeldforinvestment_3D7129C0FE7417C5F195665E088155A5" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Purchases of long-term</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireTradingSecuritiesHeldforinvestment_3D7129C0FE7417C5F195665E088155A5_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireTradingSecuritiesHeldforinvestment_3D7129C0FE7417C5F195665E088155A5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Trading Securities Held-for-investment</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquireTradingSecuritiesHeldforinvestment" xlink:label="loc_us-gaap_PaymentsToAcquireTradingSecuritiesHeldforinvestment_3D7129C0FE7417C5F195665E088155A5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireTradingSecuritiesHeldforinvestment_3D7129C0FE7417C5F195665E088155A5" xlink:to="lab_us-gaap_PaymentsToAcquireTradingSecuritiesHeldforinvestment_3D7129C0FE7417C5F195665E088155A5" xlink:type="arc" />
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesAbstract_A176BD28D8653DEFBFF4702E3D135844_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesAbstract_A176BD28D8653DEFBFF4702E3D135844" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Available-for-sale securities:</link:label>
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesAbstract_A176BD28D8653DEFBFF4702E3D135844_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesAbstract_A176BD28D8653DEFBFF4702E3D135844" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Available-for-sale Securities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AvailableForSaleSecuritiesAbstract" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesAbstract_A176BD28D8653DEFBFF4702E3D135844" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesAbstract_A176BD28D8653DEFBFF4702E3D135844" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesAbstract_A176BD28D8653DEFBFF4702E3D135844" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities_0E9D7A2E62980C663FCB702F70E477E9_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities_0E9D7A2E62980C663FCB702F70E477E9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from maturities of long-term</link:label>
    <link:label id="lab_us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities_0E9D7A2E62980C663FCB702F70E477E9_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities_0E9D7A2E62980C663FCB702F70E477E9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Sale and Maturity of Available-for-sale Securities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities" xlink:label="loc_us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities_0E9D7A2E62980C663FCB702F70E477E9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities_0E9D7A2E62980C663FCB702F70E477E9" xlink:to="lab_us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities_0E9D7A2E62980C663FCB702F70E477E9" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecurities_CF9B200B79823B03E8520FF16CB07A1E_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecurities_CF9B200B79823B03E8520FF16CB07A1E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payments to Acquire Available-for-sale Securities</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecurities_CF9B200B79823B03E8520FF16CB07A1E_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecurities_CF9B200B79823B03E8520FF16CB07A1E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Available-for-sale Securities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquireAvailableForSaleSecurities" xlink:label="loc_us-gaap_PaymentsToAcquireAvailableForSaleSecurities_CF9B200B79823B03E8520FF16CB07A1E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireAvailableForSaleSecurities_CF9B200B79823B03E8520FF16CB07A1E" xlink:to="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecurities_CF9B200B79823B03E8520FF16CB07A1E" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsToAcquireMarketableSecuritiesAbstract_12CC425C3319D9627C2699F725821BFF_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireMarketableSecuritiesAbstract_12CC425C3319D9627C2699F725821BFF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Held-to-maturity securities:</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireMarketableSecuritiesAbstract_12CC425C3319D9627C2699F725821BFF_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireMarketableSecuritiesAbstract_12CC425C3319D9627C2699F725821BFF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Marketable Securities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquireMarketableSecuritiesAbstract" xlink:label="loc_us-gaap_PaymentsToAcquireMarketableSecuritiesAbstract_12CC425C3319D9627C2699F725821BFF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireMarketableSecuritiesAbstract_12CC425C3319D9627C2699F725821BFF" xlink:to="lab_us-gaap_PaymentsToAcquireMarketableSecuritiesAbstract_12CC425C3319D9627C2699F725821BFF" xlink:type="arc" />
    <link:label id="lab_fhlbsf_PaymentsForProceedsFromShortTermHeldToMaturitySecurities_38C02CFDB7E4B4D6245FAA0346D79801_terseLabel_en-US" xlink:label="lab_fhlbsf_PaymentsForProceedsFromShortTermHeldToMaturitySecurities_38C02CFDB7E4B4D6245FAA0346D79801" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net (increase)/decrease in short-term</link:label>
    <link:label id="lab_fhlbsf_PaymentsForProceedsFromShortTermHeldToMaturitySecurities_38C02CFDB7E4B4D6245FAA0346D79801_label_en-US" xlink:label="lab_fhlbsf_PaymentsForProceedsFromShortTermHeldToMaturitySecurities_38C02CFDB7E4B4D6245FAA0346D79801" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments For Proceeds From Short Term Held To Maturity Securities</link:label>
    <link:label id="lab_fhlbsf_PaymentsForProceedsFromShortTermHeldToMaturitySecurities_38C02CFDB7E4B4D6245FAA0346D79801_documentation_en-US" xlink:label="lab_fhlbsf_PaymentsForProceedsFromShortTermHeldToMaturitySecurities_38C02CFDB7E4B4D6245FAA0346D79801" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The net amount paid (received) by the reporting entity through acquisition (sale/maturities) of short-term held-to-maturity securities with an original maturity that is three months or less which qualify for treatment as an investing activity based on management's intention and intended by management to be liquidated, if necessary, within the current operating cycle.</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_PaymentsForProceedsFromShortTermHeldToMaturitySecurities" xlink:label="loc_fhlbsf_PaymentsForProceedsFromShortTermHeldToMaturitySecurities_38C02CFDB7E4B4D6245FAA0346D79801" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_PaymentsForProceedsFromShortTermHeldToMaturitySecurities_38C02CFDB7E4B4D6245FAA0346D79801" xlink:to="lab_fhlbsf_PaymentsForProceedsFromShortTermHeldToMaturitySecurities_38C02CFDB7E4B4D6245FAA0346D79801" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities_DDD622F1C6AB718EA20E75922329D2E6_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities_DDD622F1C6AB718EA20E75922329D2E6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from maturities of long-term</link:label>
    <link:label id="lab_us-gaap_ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities_DDD622F1C6AB718EA20E75922329D2E6_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities_DDD622F1C6AB718EA20E75922329D2E6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Sale and Maturity of Held-to-maturity Securities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities" xlink:label="loc_us-gaap_ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities_DDD622F1C6AB718EA20E75922329D2E6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities_DDD622F1C6AB718EA20E75922329D2E6" xlink:to="lab_us-gaap_ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities_DDD622F1C6AB718EA20E75922329D2E6" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsToAcquireHeldToMaturitySecurities_5F0E03B4017760555E6E759076C1AB02_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireHeldToMaturitySecurities_5F0E03B4017760555E6E759076C1AB02" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Purchases of long-term</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireHeldToMaturitySecurities_5F0E03B4017760555E6E759076C1AB02_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireHeldToMaturitySecurities_5F0E03B4017760555E6E759076C1AB02" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Held-to-maturity Securities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquireHeldToMaturitySecurities" xlink:label="loc_us-gaap_PaymentsToAcquireHeldToMaturitySecurities_5F0E03B4017760555E6E759076C1AB02" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireHeldToMaturitySecurities_5F0E03B4017760555E6E759076C1AB02" xlink:to="lab_us-gaap_PaymentsToAcquireHeldToMaturitySecurities_5F0E03B4017760555E6E759076C1AB02" xlink:type="arc" />
    <link:label id="lab_fhlbsf_PaymentsForProceedsFromFederalHomeLoanBankAdvancesAbstractAbstract_01C7B7B085D41B8689537B14A90E7772_terseLabel_en-US" xlink:label="lab_fhlbsf_PaymentsForProceedsFromFederalHomeLoanBankAdvancesAbstractAbstract_01C7B7B085D41B8689537B14A90E7772" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Advances:</link:label>
    <link:label id="lab_fhlbsf_PaymentsForProceedsFromFederalHomeLoanBankAdvancesAbstractAbstract_01C7B7B085D41B8689537B14A90E7772_label_en-US" xlink:label="lab_fhlbsf_PaymentsForProceedsFromFederalHomeLoanBankAdvancesAbstractAbstract_01C7B7B085D41B8689537B14A90E7772" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments For Proceeds From Federal Home Loan Bank Advances Abstract [Abstract]</link:label>
    <link:label id="lab_fhlbsf_PaymentsForProceedsFromFederalHomeLoanBankAdvancesAbstractAbstract_01C7B7B085D41B8689537B14A90E7772_documentation_en-US" xlink:label="lab_fhlbsf_PaymentsForProceedsFromFederalHomeLoanBankAdvancesAbstractAbstract_01C7B7B085D41B8689537B14A90E7772" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">-- None. No documentation exists for this element. --</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_PaymentsForProceedsFromFederalHomeLoanBankAdvancesAbstractAbstract" xlink:label="loc_fhlbsf_PaymentsForProceedsFromFederalHomeLoanBankAdvancesAbstractAbstract_01C7B7B085D41B8689537B14A90E7772" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_PaymentsForProceedsFromFederalHomeLoanBankAdvancesAbstractAbstract_01C7B7B085D41B8689537B14A90E7772" xlink:to="lab_fhlbsf_PaymentsForProceedsFromFederalHomeLoanBankAdvancesAbstractAbstract_01C7B7B085D41B8689537B14A90E7772" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromFederalHomeLoanBankAdvances_28CB270586009BF3441F75C0B21FE86F_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromFederalHomeLoanBankAdvances_28CB270586009BF3441F75C0B21FE86F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principal collected</link:label>
    <link:label id="lab_us-gaap_ProceedsFromFederalHomeLoanBankAdvances_28CB270586009BF3441F75C0B21FE86F_label_en-US" xlink:label="lab_us-gaap_ProceedsFromFederalHomeLoanBankAdvances_28CB270586009BF3441F75C0B21FE86F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Federal Home Loan Bank Advances</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromFederalHomeLoanBankAdvances" xlink:label="loc_us-gaap_ProceedsFromFederalHomeLoanBankAdvances_28CB270586009BF3441F75C0B21FE86F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromFederalHomeLoanBankAdvances_28CB270586009BF3441F75C0B21FE86F" xlink:to="lab_us-gaap_ProceedsFromFederalHomeLoanBankAdvances_28CB270586009BF3441F75C0B21FE86F" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsForFederalHomeLoanBankAdvances_4A8241F66ED8C32BFF6075C3D3F21DE5_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForFederalHomeLoanBankAdvances_4A8241F66ED8C32BFF6075C3D3F21DE5" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Made to members</link:label>
    <link:label id="lab_us-gaap_PaymentsForFederalHomeLoanBankAdvances_4A8241F66ED8C32BFF6075C3D3F21DE5_label_en-US" xlink:label="lab_us-gaap_PaymentsForFederalHomeLoanBankAdvances_4A8241F66ED8C32BFF6075C3D3F21DE5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Federal Home Loan Bank Advances</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsForFederalHomeLoanBankAdvances" xlink:label="loc_us-gaap_PaymentsForFederalHomeLoanBankAdvances_4A8241F66ED8C32BFF6075C3D3F21DE5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForFederalHomeLoanBankAdvances_4A8241F66ED8C32BFF6075C3D3F21DE5" xlink:to="lab_us-gaap_PaymentsForFederalHomeLoanBankAdvances_4A8241F66ED8C32BFF6075C3D3F21DE5" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsForProceedsFromLoansAndLeasesAbstract_16EB48D0AC77794625227593EBA64A6D_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromLoansAndLeasesAbstract_16EB48D0AC77794625227593EBA64A6D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgage loans held for portfolio:</link:label>
    <link:label id="lab_us-gaap_PaymentsForProceedsFromLoansAndLeasesAbstract_16EB48D0AC77794625227593EBA64A6D_label_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromLoansAndLeasesAbstract_16EB48D0AC77794625227593EBA64A6D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for (Proceeds from) Loans and Leases [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsForProceedsFromLoansAndLeasesAbstract" xlink:label="loc_us-gaap_PaymentsForProceedsFromLoansAndLeasesAbstract_16EB48D0AC77794625227593EBA64A6D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForProceedsFromLoansAndLeasesAbstract_16EB48D0AC77794625227593EBA64A6D" xlink:to="lab_us-gaap_PaymentsForProceedsFromLoansAndLeasesAbstract_16EB48D0AC77794625227593EBA64A6D" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment_441F258C0C55FF8ADAC3844A54AC9BC1_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment_441F258C0C55FF8ADAC3844A54AC9BC1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principal collected</link:label>
    <link:label id="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment_441F258C0C55FF8ADAC3844A54AC9BC1_label_en-US" xlink:label="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment_441F258C0C55FF8ADAC3844A54AC9BC1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Principal Repayments on Loans and Leases Held-for-investment</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment" xlink:label="loc_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment_441F258C0C55FF8ADAC3844A54AC9BC1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment_441F258C0C55FF8ADAC3844A54AC9BC1" xlink:to="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment_441F258C0C55FF8ADAC3844A54AC9BC1" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations_A2C66F221A9A7105BE840FF570149580_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations_A2C66F221A9A7105BE840FF570149580" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by/(used in) investing activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations_A2C66F221A9A7105BE840FF570149580_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations_A2C66F221A9A7105BE840FF570149580" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Investing Activities, Continuing Operations</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations_A2C66F221A9A7105BE840FF570149580" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations_A2C66F221A9A7105BE840FF570149580" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations_A2C66F221A9A7105BE840FF570149580" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_9106CE95C66EC0D6913466894E78D3EB_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_9106CE95C66EC0D6913466894E78D3EB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash Flows from Financing Activities:</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_9106CE95C66EC0D6913466894E78D3EB_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_9106CE95C66EC0D6913466894E78D3EB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_9106CE95C66EC0D6913466894E78D3EB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_9106CE95C66EC0D6913466894E78D3EB" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_9106CE95C66EC0D6913466894E78D3EB" xlink:type="arc" />
    <link:label id="lab_fhlbsf_IncreaseDecreaseInFinancingActivitiesAbstract_E498B89FAD37BBC3669F75983CB2EA19_terseLabel_en-US" xlink:label="lab_fhlbsf_IncreaseDecreaseInFinancingActivitiesAbstract_E498B89FAD37BBC3669F75983CB2EA19" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net change in:</link:label>
    <link:label id="lab_fhlbsf_IncreaseDecreaseInFinancingActivitiesAbstract_E498B89FAD37BBC3669F75983CB2EA19_label_en-US" xlink:label="lab_fhlbsf_IncreaseDecreaseInFinancingActivitiesAbstract_E498B89FAD37BBC3669F75983CB2EA19" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase Decrease In Financing Activities Abstract</link:label>
    <link:label id="lab_fhlbsf_IncreaseDecreaseInFinancingActivitiesAbstract_E498B89FAD37BBC3669F75983CB2EA19_documentation_en-US" xlink:label="lab_fhlbsf_IncreaseDecreaseInFinancingActivitiesAbstract_E498B89FAD37BBC3669F75983CB2EA19" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">-- None. No documentation exists for this element. --</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_IncreaseDecreaseInFinancingActivitiesAbstract" xlink:label="loc_fhlbsf_IncreaseDecreaseInFinancingActivitiesAbstract_E498B89FAD37BBC3669F75983CB2EA19" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_IncreaseDecreaseInFinancingActivitiesAbstract_E498B89FAD37BBC3669F75983CB2EA19" xlink:to="lab_fhlbsf_IncreaseDecreaseInFinancingActivitiesAbstract_E498B89FAD37BBC3669F75983CB2EA19" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInDeposits_3A3F36FE2E9B5809AC46668AADCA0609_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInDeposits_3A3F36FE2E9B5809AC46668AADCA0609" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deposits</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInDeposits_3A3F36FE2E9B5809AC46668AADCA0609_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInDeposits_3A3F36FE2E9B5809AC46668AADCA0609" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Deposits</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInDeposits" xlink:label="loc_us-gaap_IncreaseDecreaseInDeposits_3A3F36FE2E9B5809AC46668AADCA0609" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInDeposits_3A3F36FE2E9B5809AC46668AADCA0609" xlink:to="lab_us-gaap_IncreaseDecreaseInDeposits_3A3F36FE2E9B5809AC46668AADCA0609" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsForProceedsFromHedgeFinancingActivities_55555B53EC29C7D1773D75994CEA8C31_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromHedgeFinancingActivities_55555B53EC29C7D1773D75994CEA8C31" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Net (payments)/proceeds on derivatives contracts with financing elements</link:label>
    <link:label id="lab_us-gaap_PaymentsForProceedsFromHedgeFinancingActivities_55555B53EC29C7D1773D75994CEA8C31_label_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromHedgeFinancingActivities_55555B53EC29C7D1773D75994CEA8C31" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for (Proceeds from) Hedge, Financing Activities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsForProceedsFromHedgeFinancingActivities" xlink:label="loc_us-gaap_PaymentsForProceedsFromHedgeFinancingActivities_55555B53EC29C7D1773D75994CEA8C31" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForProceedsFromHedgeFinancingActivities_55555B53EC29C7D1773D75994CEA8C31" xlink:to="lab_us-gaap_PaymentsForProceedsFromHedgeFinancingActivities_55555B53EC29C7D1773D75994CEA8C31" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromRepaymentsOfDebtAbstract_05A8C1AF53E332C1EECE7B29EBD701E9_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromRepaymentsOfDebtAbstract_05A8C1AF53E332C1EECE7B29EBD701E9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net proceeds from issuance of consolidated obligations:</link:label>
    <link:label id="lab_us-gaap_ProceedsFromRepaymentsOfDebtAbstract_05A8C1AF53E332C1EECE7B29EBD701E9_label_en-US" xlink:label="lab_us-gaap_ProceedsFromRepaymentsOfDebtAbstract_05A8C1AF53E332C1EECE7B29EBD701E9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from (Repayments of) Debt [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfDebtAbstract" xlink:label="loc_us-gaap_ProceedsFromRepaymentsOfDebtAbstract_05A8C1AF53E332C1EECE7B29EBD701E9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromRepaymentsOfDebtAbstract_05A8C1AF53E332C1EECE7B29EBD701E9" xlink:to="lab_us-gaap_ProceedsFromRepaymentsOfDebtAbstract_05A8C1AF53E332C1EECE7B29EBD701E9" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfOtherLongTermDebt_02E74C6AD838DDFF32967B2CB49D3A2E_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfOtherLongTermDebt_02E74C6AD838DDFF32967B2CB49D3A2E" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Bonds</link:label>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfOtherLongTermDebt_02E74C6AD838DDFF32967B2CB49D3A2E_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfOtherLongTermDebt_02E74C6AD838DDFF32967B2CB49D3A2E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Issuance of Other Long-term Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromIssuanceOfOtherLongTermDebt" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfOtherLongTermDebt_02E74C6AD838DDFF32967B2CB49D3A2E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfOtherLongTermDebt_02E74C6AD838DDFF32967B2CB49D3A2E" xlink:to="lab_us-gaap_ProceedsFromIssuanceOfOtherLongTermDebt_02E74C6AD838DDFF32967B2CB49D3A2E" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromOtherShortTermDebt_8990612D63A08DFE7C13759CC643FF21_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromOtherShortTermDebt_8990612D63A08DFE7C13759CC643FF21" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Discount notes</link:label>
    <link:label id="lab_us-gaap_ProceedsFromOtherShortTermDebt_8990612D63A08DFE7C13759CC643FF21_label_en-US" xlink:label="lab_us-gaap_ProceedsFromOtherShortTermDebt_8990612D63A08DFE7C13759CC643FF21" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Other Short-term Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromOtherShortTermDebt" xlink:label="loc_us-gaap_ProceedsFromOtherShortTermDebt_8990612D63A08DFE7C13759CC643FF21" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromOtherShortTermDebt_8990612D63A08DFE7C13759CC643FF21" xlink:to="lab_us-gaap_ProceedsFromOtherShortTermDebt_8990612D63A08DFE7C13759CC643FF21" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromBondsTransferredFromOtherOtherFederalHomeLoanBanks_5899A49C9E4EC3CB562E90C6F3CC0473_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromBondsTransferredFromOtherOtherFederalHomeLoanBanks_5899A49C9E4EC3CB562E90C6F3CC0473" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bonds transferred from another Federal Home Loan Bank</link:label>
    <link:label id="lab_us-gaap_ProceedsFromBondsTransferredFromOtherOtherFederalHomeLoanBanks_5899A49C9E4EC3CB562E90C6F3CC0473_label_en-US" xlink:label="lab_us-gaap_ProceedsFromBondsTransferredFromOtherOtherFederalHomeLoanBanks_5899A49C9E4EC3CB562E90C6F3CC0473" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Bonds Transferred from Other Federal Home Loan Banks</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromBondsTransferredFromOtherOtherFederalHomeLoanBanks" xlink:label="loc_us-gaap_ProceedsFromBondsTransferredFromOtherOtherFederalHomeLoanBanks_5899A49C9E4EC3CB562E90C6F3CC0473" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromBondsTransferredFromOtherOtherFederalHomeLoanBanks_5899A49C9E4EC3CB562E90C6F3CC0473" xlink:to="lab_us-gaap_ProceedsFromBondsTransferredFromOtherOtherFederalHomeLoanBanks_5899A49C9E4EC3CB562E90C6F3CC0473" xlink:type="arc" />
    <link:label id="lab_fhlbsf_PaymentsForMaturingAndRetiringConsolidatedObligationsAbstract_18D903C69CFC16A269D7AAA89F7A5957_terseLabel_en-US" xlink:label="lab_fhlbsf_PaymentsForMaturingAndRetiringConsolidatedObligationsAbstract_18D903C69CFC16A269D7AAA89F7A5957" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payments for matured and retired consolidated obligations:</link:label>
    <link:label id="lab_fhlbsf_PaymentsForMaturingAndRetiringConsolidatedObligationsAbstract_18D903C69CFC16A269D7AAA89F7A5957_label_en-US" xlink:label="lab_fhlbsf_PaymentsForMaturingAndRetiringConsolidatedObligationsAbstract_18D903C69CFC16A269D7AAA89F7A5957" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for maturing and retiring consolidated obligations abstract</link:label>
    <link:label id="lab_fhlbsf_PaymentsForMaturingAndRetiringConsolidatedObligationsAbstract_18D903C69CFC16A269D7AAA89F7A5957_documentation_en-US" xlink:label="lab_fhlbsf_PaymentsForMaturingAndRetiringConsolidatedObligationsAbstract_18D903C69CFC16A269D7AAA89F7A5957" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">-- None. No documentation exists for this element. --</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_PaymentsForMaturingAndRetiringConsolidatedObligationsAbstract" xlink:label="loc_fhlbsf_PaymentsForMaturingAndRetiringConsolidatedObligationsAbstract_18D903C69CFC16A269D7AAA89F7A5957" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_PaymentsForMaturingAndRetiringConsolidatedObligationsAbstract_18D903C69CFC16A269D7AAA89F7A5957" xlink:to="lab_fhlbsf_PaymentsForMaturingAndRetiringConsolidatedObligationsAbstract_18D903C69CFC16A269D7AAA89F7A5957" xlink:type="arc" />
    <link:label id="lab_us-gaap_RepaymentsOfOtherLongTermDebt_8BF8E95A4B9435914A0F75A000AF51FD_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfOtherLongTermDebt_8BF8E95A4B9435914A0F75A000AF51FD" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Bonds</link:label>
    <link:label id="lab_us-gaap_RepaymentsOfOtherLongTermDebt_8BF8E95A4B9435914A0F75A000AF51FD_label_en-US" xlink:label="lab_us-gaap_RepaymentsOfOtherLongTermDebt_8BF8E95A4B9435914A0F75A000AF51FD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments of Other Long-term Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RepaymentsOfOtherLongTermDebt" xlink:label="loc_us-gaap_RepaymentsOfOtherLongTermDebt_8BF8E95A4B9435914A0F75A000AF51FD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepaymentsOfOtherLongTermDebt_8BF8E95A4B9435914A0F75A000AF51FD" xlink:to="lab_us-gaap_RepaymentsOfOtherLongTermDebt_8BF8E95A4B9435914A0F75A000AF51FD" xlink:type="arc" />
    <link:label id="lab_us-gaap_RepaymentsOfOtherShortTermDebt_B8AB3FB54B76F3CF442C75A0AEF1E6F8_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfOtherShortTermDebt_B8AB3FB54B76F3CF442C75A0AEF1E6F8" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Discount notes</link:label>
    <link:label id="lab_us-gaap_RepaymentsOfOtherShortTermDebt_B8AB3FB54B76F3CF442C75A0AEF1E6F8_label_en-US" xlink:label="lab_us-gaap_RepaymentsOfOtherShortTermDebt_B8AB3FB54B76F3CF442C75A0AEF1E6F8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments of Other Short-term Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RepaymentsOfOtherShortTermDebt" xlink:label="loc_us-gaap_RepaymentsOfOtherShortTermDebt_B8AB3FB54B76F3CF442C75A0AEF1E6F8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepaymentsOfOtherShortTermDebt_B8AB3FB54B76F3CF442C75A0AEF1E6F8" xlink:to="lab_us-gaap_RepaymentsOfOtherShortTermDebt_B8AB3FB54B76F3CF442C75A0AEF1E6F8" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_C6645BBDE631CE03B45475A1495C45BB_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_C6645BBDE631CE03B45475A1495C45BB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from issuance of capital stock</link:label>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_C6645BBDE631CE03B45475A1495C45BB_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_C6645BBDE631CE03B45475A1495C45BB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Issuance of Common Stock</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfCommonStock_C6645BBDE631CE03B45475A1495C45BB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfCommonStock_C6645BBDE631CE03B45475A1495C45BB" xlink:to="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_C6645BBDE631CE03B45475A1495C45BB" xlink:type="arc" />
    <link:label id="lab_us-gaap_RepaymentsOfMandatoryRedeemableCapitalSecurities_68BE9E406F355039E63F75A31CF4FB1C_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfMandatoryRedeemableCapitalSecurities_68BE9E406F355039E63F75A31CF4FB1C" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Payments for repurchase/redemption of mandatorily redeemable capital stock</link:label>
    <link:label id="lab_us-gaap_RepaymentsOfMandatoryRedeemableCapitalSecurities_68BE9E406F355039E63F75A31CF4FB1C_label_en-US" xlink:label="lab_us-gaap_RepaymentsOfMandatoryRedeemableCapitalSecurities_68BE9E406F355039E63F75A31CF4FB1C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments of Mandatory Redeemable Capital Securities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RepaymentsOfMandatoryRedeemableCapitalSecurities" xlink:label="loc_us-gaap_RepaymentsOfMandatoryRedeemableCapitalSecurities_68BE9E406F355039E63F75A31CF4FB1C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepaymentsOfMandatoryRedeemableCapitalSecurities_68BE9E406F355039E63F75A31CF4FB1C" xlink:to="lab_us-gaap_RepaymentsOfMandatoryRedeemableCapitalSecurities_68BE9E406F355039E63F75A31CF4FB1C" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_AA244BFC1AA66BA3DA6FBE43BABE8DD7_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_AA244BFC1AA66BA3DA6FBE43BABE8DD7" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Payments for repurchase/redemption of capital stock</link:label>
    <link:label id="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_AA244BFC1AA66BA3DA6FBE43BABE8DD7_label_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_AA244BFC1AA66BA3DA6FBE43BABE8DD7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Repurchase of Common Stock</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_AA244BFC1AA66BA3DA6FBE43BABE8DD7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_AA244BFC1AA66BA3DA6FBE43BABE8DD7" xlink:to="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_AA244BFC1AA66BA3DA6FBE43BABE8DD7" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsOfDividendsCommonStock_ACD880494906DC06F59075A35AC8556E_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsCommonStock_ACD880494906DC06F59075A35AC8556E" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Cash dividends paid</link:label>
    <link:label id="lab_us-gaap_PaymentsOfDividendsCommonStock_ACD880494906DC06F59075A35AC8556E_label_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsCommonStock_ACD880494906DC06F59075A35AC8556E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments of Dividends, Common Stock</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsOfDividendsCommonStock" xlink:label="loc_us-gaap_PaymentsOfDividendsCommonStock_ACD880494906DC06F59075A35AC8556E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfDividendsCommonStock_ACD880494906DC06F59075A35AC8556E" xlink:to="lab_us-gaap_PaymentsOfDividendsCommonStock_ACD880494906DC06F59075A35AC8556E" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations_AB155E644C85A7AB061F1A3E07F6DC16_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations_AB155E644C85A7AB061F1A3E07F6DC16" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by/(used in) financing activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations_AB155E644C85A7AB061F1A3E07F6DC16_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations_AB155E644C85A7AB061F1A3E07F6DC16" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities, Continuing Operations</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations_AB155E644C85A7AB061F1A3E07F6DC16" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations_AB155E644C85A7AB061F1A3E07F6DC16" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations_AB155E644C85A7AB061F1A3E07F6DC16" xlink:type="arc" />
    <link:label id="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_282D8C6697F005ED583275A3D8F1B240_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_282D8C6697F005ED583275A3D8F1B240" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net increase/(decrease) in cash and cash equivalents</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_282D8C6697F005ED583275A3D8F1B240_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_282D8C6697F005ED583275A3D8F1B240" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, Period Increase (Decrease)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_282D8C6697F005ED583275A3D8F1B240" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_282D8C6697F005ED583275A3D8F1B240" xlink:to="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_282D8C6697F005ED583275A3D8F1B240" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInContinuingOperations_81DE0F43822FE860BA4819D788CB36A9_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInContinuingOperations_81DE0F43822FE860BA4819D788CB36A9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net increase/(decrease) in cash and due from banks</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInContinuingOperations_81DE0F43822FE860BA4819D788CB36A9_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInContinuingOperations_81DE0F43822FE860BA4819D788CB36A9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Continuing Operations</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInContinuingOperations" xlink:label="loc_us-gaap_NetCashProvidedByUsedInContinuingOperations_81DE0F43822FE860BA4819D788CB36A9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInContinuingOperations_81DE0F43822FE860BA4819D788CB36A9" xlink:to="lab_us-gaap_NetCashProvidedByUsedInContinuingOperations_81DE0F43822FE860BA4819D788CB36A9" xlink:type="arc" />
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_E159716CB3F39B2D267475A4D67C85EC_periodStartLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_E159716CB3F39B2D267475A4D67C85EC" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Cash and due from banks at beginning of the period</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_E159716CB3F39B2D267475A4D67C85EC_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_E159716CB3F39B2D267475A4D67C85EC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, at Carrying Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_E159716CB3F39B2D267475A4D67C85EC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_E159716CB3F39B2D267475A4D67C85EC" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_E159716CB3F39B2D267475A4D67C85EC" xlink:type="arc" />
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_060DBE9CAE0F0C5F2CBDC3088F5C2F4C_periodEndLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_060DBE9CAE0F0C5F2CBDC3088F5C2F4C" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Cash and due from banks at end of period</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_060DBE9CAE0F0C5F2CBDC3088F5C2F4C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_060DBE9CAE0F0C5F2CBDC3088F5C2F4C" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_060DBE9CAE0F0C5F2CBDC3088F5C2F4C" xlink:type="arc" />
    <link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_C321F57B0C050936476575A538C18D38_terseLabel_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract_C321F57B0C050936476575A538C18D38" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Supplemental Disclosures:</link:label>
    <link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_C321F57B0C050936476575A538C18D38_label_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract_C321F57B0C050936476575A538C18D38" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Supplemental Cash Flow Information [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="loc_us-gaap_SupplementalCashFlowInformationAbstract_C321F57B0C050936476575A538C18D38" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SupplementalCashFlowInformationAbstract_C321F57B0C050936476575A538C18D38" xlink:to="lab_us-gaap_SupplementalCashFlowInformationAbstract_C321F57B0C050936476575A538C18D38" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestPaidNet_B36A2F8D4103A35307E475A55F1592AE_terseLabel_en-US" xlink:label="lab_us-gaap_InterestPaidNet_B36A2F8D4103A35307E475A55F1592AE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest paid</link:label>
    <link:label id="lab_us-gaap_InterestPaidNet_B36A2F8D4103A35307E475A55F1592AE_label_en-US" xlink:label="lab_us-gaap_InterestPaidNet_B36A2F8D4103A35307E475A55F1592AE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Paid, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestPaidNet" xlink:label="loc_us-gaap_InterestPaidNet_B36A2F8D4103A35307E475A55F1592AE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestPaidNet_B36A2F8D4103A35307E475A55F1592AE" xlink:to="lab_us-gaap_InterestPaidNet_B36A2F8D4103A35307E475A55F1592AE" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsForAffordableHousingPrograms_4C28C4DF79BAC1C1034D7B2E330FCD64_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsForAffordableHousingPrograms_4C28C4DF79BAC1C1034D7B2E330FCD64" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Affordable Housing Program payments</link:label>
    <link:label id="lab_us-gaap_PaymentsForAffordableHousingPrograms_4C28C4DF79BAC1C1034D7B2E330FCD64_label_en-US" xlink:label="lab_us-gaap_PaymentsForAffordableHousingPrograms_4C28C4DF79BAC1C1034D7B2E330FCD64" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Affordable Housing Programs</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsForAffordableHousingPrograms" xlink:label="loc_us-gaap_PaymentsForAffordableHousingPrograms_4C28C4DF79BAC1C1034D7B2E330FCD64" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForAffordableHousingPrograms_4C28C4DF79BAC1C1034D7B2E330FCD64" xlink:to="lab_us-gaap_PaymentsForAffordableHousingPrograms_4C28C4DF79BAC1C1034D7B2E330FCD64" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsForCongressionallyMandatedFederalHomeLoanBankAssessments_0C99F2021FB791D25BCE7B2ECADBC064_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsForCongressionallyMandatedFederalHomeLoanBankAssessments_0C99F2021FB791D25BCE7B2ECADBC064" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">REFCORP payments</link:label>
    <link:label id="lab_us-gaap_PaymentsForCongressionallyMandatedFederalHomeLoanBankAssessments_0C99F2021FB791D25BCE7B2ECADBC064_label_en-US" xlink:label="lab_us-gaap_PaymentsForCongressionallyMandatedFederalHomeLoanBankAssessments_0C99F2021FB791D25BCE7B2ECADBC064" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Congressionally Mandated Federal Home Loan Bank Assessments</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsForCongressionallyMandatedFederalHomeLoanBankAssessments" xlink:label="loc_us-gaap_PaymentsForCongressionallyMandatedFederalHomeLoanBankAssessments_0C99F2021FB791D25BCE7B2ECADBC064" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForCongressionallyMandatedFederalHomeLoanBankAssessments_0C99F2021FB791D25BCE7B2ECADBC064" xlink:to="lab_us-gaap_PaymentsForCongressionallyMandatedFederalHomeLoanBankAssessments_0C99F2021FB791D25BCE7B2ECADBC064" xlink:type="arc" />
    <link:label id="lab_fhlbsf_TransferOfMortgageLoansToRealEstateOwned_92E8F2207BE8FB964630C2D67DD9863B_terseLabel_en-US" xlink:label="lab_fhlbsf_TransferOfMortgageLoansToRealEstateOwned_92E8F2207BE8FB964630C2D67DD9863B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transfers of mortgage loans to real estate owned</link:label>
    <link:label id="lab_fhlbsf_TransferOfMortgageLoansToRealEstateOwned_92E8F2207BE8FB964630C2D67DD9863B_label_en-US" xlink:label="lab_fhlbsf_TransferOfMortgageLoansToRealEstateOwned_92E8F2207BE8FB964630C2D67DD9863B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Transfer of mortgage loans to real estate owned</link:label>
    <link:label id="lab_fhlbsf_TransferOfMortgageLoansToRealEstateOwned_92E8F2207BE8FB964630C2D67DD9863B_documentation_en-US" xlink:label="lab_fhlbsf_TransferOfMortgageLoansToRealEstateOwned_92E8F2207BE8FB964630C2D67DD9863B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of mortgage loans transferred to real estate owned during the period.</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_TransferOfMortgageLoansToRealEstateOwned" xlink:label="loc_fhlbsf_TransferOfMortgageLoansToRealEstateOwned_92E8F2207BE8FB964630C2D67DD9863B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_TransferOfMortgageLoansToRealEstateOwned_92E8F2207BE8FB964630C2D67DD9863B" xlink:to="lab_fhlbsf_TransferOfMortgageLoansToRealEstateOwned_92E8F2207BE8FB964630C2D67DD9863B" xlink:type="arc" />
    <link:label id="lab_fhlbsf_TransfersOfHeldToMaturitySecuritiesToAvailableForSaleSecurities_7B2876CD890AA03E7D367AA45A48867C_terseLabel_en-US" xlink:label="lab_fhlbsf_TransfersOfHeldToMaturitySecuritiesToAvailableForSaleSecurities_7B2876CD890AA03E7D367AA45A48867C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transfers of OTTI held-to-maturity securities to available-for-sale securities</link:label>
    <link:label id="lab_fhlbsf_TransfersOfHeldToMaturitySecuritiesToAvailableForSaleSecurities_7B2876CD890AA03E7D367AA45A48867C_label_en-US" xlink:label="lab_fhlbsf_TransfersOfHeldToMaturitySecuritiesToAvailableForSaleSecurities_7B2876CD890AA03E7D367AA45A48867C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Transfers of held to maturity securities to available for sale securities</link:label>
    <link:label id="lab_fhlbsf_TransfersOfHeldToMaturitySecuritiesToAvailableForSaleSecurities_7B2876CD890AA03E7D367AA45A48867C_documentation_en-US" xlink:label="lab_fhlbsf_TransfersOfHeldToMaturitySecuritiesToAvailableForSaleSecurities_7B2876CD890AA03E7D367AA45A48867C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount (carrying value) of held-to-maturity securities transferred to available-for-sale securities during the period.</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_TransfersOfHeldToMaturitySecuritiesToAvailableForSaleSecurities" xlink:label="loc_fhlbsf_TransfersOfHeldToMaturitySecuritiesToAvailableForSaleSecurities_7B2876CD890AA03E7D367AA45A48867C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_TransfersOfHeldToMaturitySecuritiesToAvailableForSaleSecurities_7B2876CD890AA03E7D367AA45A48867C" xlink:to="lab_fhlbsf_TransfersOfHeldToMaturitySecuritiesToAvailableForSaleSecurities_7B2876CD890AA03E7D367AA45A48867C" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_7A2705DD0C5C2DD1678D149C291589EF_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_7A2705DD0C5C2DD1678D149C291589EF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by/(used in) investing activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_7A2705DD0C5C2DD1678D149C291589EF_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_7A2705DD0C5C2DD1678D149C291589EF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Investing Activities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_7A2705DD0C5C2DD1678D149C291589EF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_7A2705DD0C5C2DD1678D149C291589EF" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_7A2705DD0C5C2DD1678D149C291589EF" xlink:type="arc" />
    <link:label id="lab_us-gaap_DepositsAbstract_6D60113FEDF5F0BABDA67B03E4214D00_label_en-US" xlink:label="lab_us-gaap_DepositsAbstract_6D60113FEDF5F0BABDA67B03E4214D00" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deposits [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DepositsAbstract" xlink:label="loc_us-gaap_DepositsAbstract_6D60113FEDF5F0BABDA67B03E4214D00" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepositsAbstract_6D60113FEDF5F0BABDA67B03E4214D00" xlink:to="lab_us-gaap_DepositsAbstract_6D60113FEDF5F0BABDA67B03E4214D00" xlink:type="arc" />
    <link:label id="lab_us-gaap_DepositLiabilitiesDisclosuresTextBlock_C23B27A260DC7280E2B77B045098CAC4_terseLabel_en-US" xlink:label="lab_us-gaap_DepositLiabilitiesDisclosuresTextBlock_C23B27A260DC7280E2B77B045098CAC4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deposits</link:label>
    <link:label id="lab_us-gaap_DepositLiabilitiesDisclosuresTextBlock_C23B27A260DC7280E2B77B045098CAC4_label_en-US" xlink:label="lab_us-gaap_DepositLiabilitiesDisclosuresTextBlock_C23B27A260DC7280E2B77B045098CAC4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deposit Liabilities Disclosures [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DepositLiabilitiesDisclosuresTextBlock" xlink:label="loc_us-gaap_DepositLiabilitiesDisclosuresTextBlock_C23B27A260DC7280E2B77B045098CAC4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepositLiabilitiesDisclosuresTextBlock_C23B27A260DC7280E2B77B045098CAC4" xlink:to="lab_us-gaap_DepositLiabilitiesDisclosuresTextBlock_C23B27A260DC7280E2B77B045098CAC4" xlink:type="arc" />
    <link:label id="lab_us-gaap_FairValueDisclosuresAbstract_C159543335CD466FE3D275F43C9B27D4_label_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresAbstract_C159543335CD466FE3D275F43C9B27D4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Disclosures [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueDisclosuresAbstract" xlink:label="loc_us-gaap_FairValueDisclosuresAbstract_C159543335CD466FE3D275F43C9B27D4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosuresAbstract_C159543335CD466FE3D275F43C9B27D4" xlink:to="lab_us-gaap_FairValueDisclosuresAbstract_C159543335CD466FE3D275F43C9B27D4" xlink:type="arc" />
    <link:label id="lab_us-gaap_FairValueDisclosuresTextBlock_978F722D79F63A81BFDF75F4E76204D7_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock_978F722D79F63A81BFDF75F4E76204D7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value</link:label>
    <link:label id="lab_us-gaap_FairValueDisclosuresTextBlock_978F722D79F63A81BFDF75F4E76204D7_label_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock_978F722D79F63A81BFDF75F4E76204D7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Disclosures [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueDisclosuresTextBlock" xlink:label="loc_us-gaap_FairValueDisclosuresTextBlock_978F722D79F63A81BFDF75F4E76204D7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosuresTextBlock_978F722D79F63A81BFDF75F4E76204D7" xlink:to="lab_us-gaap_FairValueDisclosuresTextBlock_978F722D79F63A81BFDF75F4E76204D7" xlink:type="arc" />
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract_CC206EA5B61CE68919DE8F8483FBC941_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract_CC206EA5B61CE68919DE8F8483FBC941" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosure [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract_CC206EA5B61CE68919DE8F8483FBC941" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract_CC206EA5B61CE68919DE8F8483FBC941" xlink:to="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract_CC206EA5B61CE68919DE8F8483FBC941" xlink:type="arc" />
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_4F065B77AD51BA34A5178F84F2E38A93_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_4F065B77AD51BA34A5178F84F2E38A93" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivatives and Hedging Activities</link:label>
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_4F065B77AD51BA34A5178F84F2E38A93_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_4F065B77AD51BA34A5178F84F2E38A93" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_4F065B77AD51BA34A5178F84F2E38A93" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_4F065B77AD51BA34A5178F84F2E38A93" xlink:to="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_4F065B77AD51BA34A5178F84F2E38A93" xlink:type="arc" />
    <link:label id="lab_us-gaap_StatementOfFinancialPositionAbstract_E002FDC1CC1E9A6E4229601FFB8A7630_label_en-US" xlink:label="lab_us-gaap_StatementOfFinancialPositionAbstract_E002FDC1CC1E9A6E4229601FFB8A7630" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Financial Position [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="loc_us-gaap_StatementOfFinancialPositionAbstract_E002FDC1CC1E9A6E4229601FFB8A7630" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract_E002FDC1CC1E9A6E4229601FFB8A7630" xlink:to="lab_us-gaap_StatementOfFinancialPositionAbstract_E002FDC1CC1E9A6E4229601FFB8A7630" xlink:type="arc" />
    <link:label id="lab_us-gaap_StatementClassOfStockAxis_8B5A2A21C00168F1A403601FFF52DAF3_terseLabel_en-US" xlink:label="lab_us-gaap_StatementClassOfStockAxis_8B5A2A21C00168F1A403601FFF52DAF3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock [Axis]</link:label>
    <link:label id="lab_us-gaap_StatementClassOfStockAxis_8B5A2A21C00168F1A403601FFF52DAF3_label_en-US" xlink:label="lab_us-gaap_StatementClassOfStockAxis_8B5A2A21C00168F1A403601FFF52DAF3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="loc_us-gaap_StatementClassOfStockAxis_8B5A2A21C00168F1A403601FFF52DAF3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementClassOfStockAxis_8B5A2A21C00168F1A403601FFF52DAF3" xlink:to="lab_us-gaap_StatementClassOfStockAxis_8B5A2A21C00168F1A403601FFF52DAF3" xlink:type="arc" />
    <link:label id="lab_us-gaap_ClassOfStockDomain_395D23F5CCE75D65A956601FFF52D7D2_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfStockDomain_395D23F5CCE75D65A956601FFF52D7D2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock [Domain]</link:label>
    <link:label id="lab_us-gaap_ClassOfStockDomain_395D23F5CCE75D65A956601FFF52D7D2_label_en-US" xlink:label="lab_us-gaap_ClassOfStockDomain_395D23F5CCE75D65A956601FFF52D7D2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_us-gaap_ClassOfStockDomain_395D23F5CCE75D65A956601FFF52D7D2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassOfStockDomain_395D23F5CCE75D65A956601FFF52D7D2" xlink:to="lab_us-gaap_ClassOfStockDomain_395D23F5CCE75D65A956601FFF52D7D2" xlink:type="arc" />
    <link:label id="lab_us-gaap_AssetsAbstract_FF27676EEF73D46DF608602E50E5ACEE_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsAbstract_FF27676EEF73D46DF608602E50E5ACEE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets:</link:label>
    <link:label id="lab_us-gaap_AssetsAbstract_FF27676EEF73D46DF608602E50E5ACEE_label_en-US" xlink:label="lab_us-gaap_AssetsAbstract_FF27676EEF73D46DF608602E50E5ACEE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="loc_us-gaap_AssetsAbstract_FF27676EEF73D46DF608602E50E5ACEE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsAbstract_FF27676EEF73D46DF608602E50E5ACEE" xlink:to="lab_us-gaap_AssetsAbstract_FF27676EEF73D46DF608602E50E5ACEE" xlink:type="arc" />
    <link:label id="lab_us-gaap_CashAndDueFromBanks_545A2F1BF6C45D1FBE546021382179F4_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndDueFromBanks_545A2F1BF6C45D1FBE546021382179F4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and due from banks</link:label>
    <link:label id="lab_us-gaap_CashAndDueFromBanks_545A2F1BF6C45D1FBE546021382179F4_label_en-US" xlink:label="lab_us-gaap_CashAndDueFromBanks_545A2F1BF6C45D1FBE546021382179F4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Due from Banks</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashAndDueFromBanks" xlink:label="loc_us-gaap_CashAndDueFromBanks_545A2F1BF6C45D1FBE546021382179F4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndDueFromBanks_545A2F1BF6C45D1FBE546021382179F4" xlink:to="lab_us-gaap_CashAndDueFromBanks_545A2F1BF6C45D1FBE546021382179F4" xlink:type="arc" />
    <link:label id="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResell_A5E6123C2B1C9A41DC3005B0EBB3B218_terseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResell_A5E6123C2B1C9A41DC3005B0EBB3B218" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Securities purchased under agreements to resell</link:label>
    <link:label id="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResell_A5E6123C2B1C9A41DC3005B0EBB3B218_label_en-US" xlink:label="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResell_A5E6123C2B1C9A41DC3005B0EBB3B218" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Securities Purchased under Agreements to Resell</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SecuritiesPurchasedUnderAgreementsToResell" xlink:label="loc_us-gaap_SecuritiesPurchasedUnderAgreementsToResell_A5E6123C2B1C9A41DC3005B0EBB3B218" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesPurchasedUnderAgreementsToResell_A5E6123C2B1C9A41DC3005B0EBB3B218" xlink:to="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResell_A5E6123C2B1C9A41DC3005B0EBB3B218" xlink:type="arc" />
    <link:label id="lab_us-gaap_FederalFundsSold_144DFBC3C6C99D301A1B60249663953B_terseLabel_en-US" xlink:label="lab_us-gaap_FederalFundsSold_144DFBC3C6C99D301A1B60249663953B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Federal funds sold</link:label>
    <link:label id="lab_us-gaap_FederalFundsSold_144DFBC3C6C99D301A1B60249663953B_label_en-US" xlink:label="lab_us-gaap_FederalFundsSold_144DFBC3C6C99D301A1B60249663953B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Federal Funds Sold</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FederalFundsSold" xlink:label="loc_us-gaap_FederalFundsSold_144DFBC3C6C99D301A1B60249663953B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FederalFundsSold_144DFBC3C6C99D301A1B60249663953B" xlink:to="lab_us-gaap_FederalFundsSold_144DFBC3C6C99D301A1B60249663953B" xlink:type="arc" />
    <link:label id="lab_us-gaap_TradingSecurities_AFB38558680629D0DEE1602669212037_terseLabel_en-US" xlink:label="lab_us-gaap_TradingSecurities_AFB38558680629D0DEE1602669212037" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trading securities(a)</link:label>
    <link:label id="lab_us-gaap_TradingSecurities_AFB38558680629D0DEE1602669212037_label_en-US" xlink:label="lab_us-gaap_TradingSecurities_AFB38558680629D0DEE1602669212037" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Securities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TradingSecurities" xlink:label="loc_us-gaap_TradingSecurities_AFB38558680629D0DEE1602669212037" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TradingSecurities_AFB38558680629D0DEE1602669212037" xlink:to="lab_us-gaap_TradingSecurities_AFB38558680629D0DEE1602669212037" xlink:type="arc" />
    <link:label id="lab_us-gaap_AvailableForSaleSecurities_9E240A7197DD4CB604D060275314A629_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecurities_9E240A7197DD4CB604D060275314A629" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Available-for-sale securities(a)</link:label>
    <link:label id="lab_us-gaap_AvailableForSaleSecurities_9E240A7197DD4CB604D060275314A629_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecurities_9E240A7197DD4CB604D060275314A629" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Available-for-sale Securities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AvailableForSaleSecurities" xlink:label="loc_us-gaap_AvailableForSaleSecurities_9E240A7197DD4CB604D060275314A629" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecurities_9E240A7197DD4CB604D060275314A629" xlink:to="lab_us-gaap_AvailableForSaleSecurities_9E240A7197DD4CB604D060275314A629" xlink:type="arc" />
    <link:label id="lab_us-gaap_HeldToMaturitySecurities_A7FF280650B1CA96F2679E2C2C4120D8_terseLabel_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecurities_A7FF280650B1CA96F2679E2C2C4120D8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Held-to-maturity securities (fair values were $20,061 and $21,414, respectively)(b)</link:label>
    <link:label id="lab_us-gaap_HeldToMaturitySecurities_A7FF280650B1CA96F2679E2C2C4120D8_label_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecurities_A7FF280650B1CA96F2679E2C2C4120D8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Held-to-maturity Securities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_HeldToMaturitySecurities" xlink:label="loc_us-gaap_HeldToMaturitySecurities_A7FF280650B1CA96F2679E2C2C4120D8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HeldToMaturitySecurities_A7FF280650B1CA96F2679E2C2C4120D8" xlink:to="lab_us-gaap_HeldToMaturitySecurities_A7FF280650B1CA96F2679E2C2C4120D8" xlink:type="arc" />
    <link:label id="lab_us-gaap_FederalHomeLoanBankAdvances_255C42D6AEFA6D290BDB61591ABC1CCC_terseLabel_en-US" xlink:label="lab_us-gaap_FederalHomeLoanBankAdvances_255C42D6AEFA6D290BDB61591ABC1CCC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Advances (includes $7,911 and $8,684 at fair value under the fair value option, respectively)</link:label>
    <link:label id="lab_us-gaap_FederalHomeLoanBankAdvances_255C42D6AEFA6D290BDB61591ABC1CCC_label_en-US" xlink:label="lab_us-gaap_FederalHomeLoanBankAdvances_255C42D6AEFA6D290BDB61591ABC1CCC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Federal Home Loan Bank Advances</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FederalHomeLoanBankAdvances" xlink:label="loc_us-gaap_FederalHomeLoanBankAdvances_255C42D6AEFA6D290BDB61591ABC1CCC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FederalHomeLoanBankAdvances_255C42D6AEFA6D290BDB61591ABC1CCC" xlink:to="lab_us-gaap_FederalHomeLoanBankAdvances_255C42D6AEFA6D290BDB61591ABC1CCC" xlink:type="arc" />
    <link:label id="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount_70800794C01BB2118F5B602C469C4B2E_terseLabel_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount_70800794C01BB2118F5B602C469C4B2E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgage loans held for portfolio, net of allowance for credit losses of $6 and $6, respectively</link:label>
    <link:label id="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount_70800794C01BB2118F5B602C469C4B2E_label_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount_70800794C01BB2118F5B602C469C4B2E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans and Leases Receivable, Net Reported Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LoansAndLeasesReceivableNetReportedAmount" xlink:label="loc_us-gaap_LoansAndLeasesReceivableNetReportedAmount_70800794C01BB2118F5B602C469C4B2E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansAndLeasesReceivableNetReportedAmount_70800794C01BB2118F5B602C469C4B2E" xlink:to="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount_70800794C01BB2118F5B602C469C4B2E" xlink:type="arc" />
    <link:label id="lab_us-gaap_LoansToOtherFederalHomeLoanBanks_08BE5C5A12AE2DE432726160CDD4EABE_terseLabel_en-US" xlink:label="lab_us-gaap_LoansToOtherFederalHomeLoanBanks_08BE5C5A12AE2DE432726160CDD4EABE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loans to other Federal Home Loan Banks</link:label>
    <link:label id="lab_us-gaap_LoansToOtherFederalHomeLoanBanks_08BE5C5A12AE2DE432726160CDD4EABE_label_en-US" xlink:label="lab_us-gaap_LoansToOtherFederalHomeLoanBanks_08BE5C5A12AE2DE432726160CDD4EABE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans to Other Federal Home Loan Banks</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LoansToOtherFederalHomeLoanBanks" xlink:label="loc_us-gaap_LoansToOtherFederalHomeLoanBanks_08BE5C5A12AE2DE432726160CDD4EABE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansToOtherFederalHomeLoanBanks_08BE5C5A12AE2DE432726160CDD4EABE" xlink:to="lab_us-gaap_LoansToOtherFederalHomeLoanBanks_08BE5C5A12AE2DE432726160CDD4EABE" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestReceivable_AF4879A43524EEF5E115602F7AD04663_terseLabel_en-US" xlink:label="lab_us-gaap_InterestReceivable_AF4879A43524EEF5E115602F7AD04663" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued interest receivable</link:label>
    <link:label id="lab_us-gaap_InterestReceivable_AF4879A43524EEF5E115602F7AD04663_label_en-US" xlink:label="lab_us-gaap_InterestReceivable_AF4879A43524EEF5E115602F7AD04663" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Receivable</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestReceivable" xlink:label="loc_us-gaap_InterestReceivable_AF4879A43524EEF5E115602F7AD04663" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestReceivable_AF4879A43524EEF5E115602F7AD04663" xlink:to="lab_us-gaap_InterestReceivable_AF4879A43524EEF5E115602F7AD04663" xlink:type="arc" />
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentNet_0CA1D179F08208445A7D602FDCF5DBB4_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentNet_0CA1D179F08208445A7D602FDCF5DBB4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Premises, software, and equipment, net</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentNet_0CA1D179F08208445A7D602FDCF5DBB4_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentNet_0CA1D179F08208445A7D602FDCF5DBB4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet_0CA1D179F08208445A7D602FDCF5DBB4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentNet_0CA1D179F08208445A7D602FDCF5DBB4" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentNet_0CA1D179F08208445A7D602FDCF5DBB4" xlink:type="arc" />
    <link:label id="lab_us-gaap_DerivativeAssets_1BA07B874719C9576B7F6031949AA001_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssets_1BA07B874719C9576B7F6031949AA001" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative assets, net</link:label>
    <link:label id="lab_us-gaap_DerivativeAssets_1BA07B874719C9576B7F6031949AA001_label_en-US" xlink:label="lab_us-gaap_DerivativeAssets_1BA07B874719C9576B7F6031949AA001" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DerivativeAssets" xlink:label="loc_us-gaap_DerivativeAssets_1BA07B874719C9576B7F6031949AA001" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAssets_1BA07B874719C9576B7F6031949AA001" xlink:to="lab_us-gaap_DerivativeAssets_1BA07B874719C9576B7F6031949AA001" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherAssets_7D6EBFF5F0E81D1D70DB6032110D790A_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAssets_7D6EBFF5F0E81D1D70DB6032110D790A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_OtherAssets_7D6EBFF5F0E81D1D70DB6032110D790A_label_en-US" xlink:label="lab_us-gaap_OtherAssets_7D6EBFF5F0E81D1D70DB6032110D790A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherAssets" xlink:label="loc_us-gaap_OtherAssets_7D6EBFF5F0E81D1D70DB6032110D790A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAssets_7D6EBFF5F0E81D1D70DB6032110D790A" xlink:to="lab_us-gaap_OtherAssets_7D6EBFF5F0E81D1D70DB6032110D790A" xlink:type="arc" />
    <link:label id="lab_us-gaap_Assets_90A02566BA1FB285020260324A9CCD4F_totalLabel_en-US" xlink:label="lab_us-gaap_Assets_90A02566BA1FB285020260324A9CCD4F" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Assets</link:label>
    <link:label id="lab_us-gaap_Assets_90A02566BA1FB285020260324A9CCD4F_label_en-US" xlink:label="lab_us-gaap_Assets_90A02566BA1FB285020260324A9CCD4F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Assets" xlink:label="loc_us-gaap_Assets_90A02566BA1FB285020260324A9CCD4F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Assets_90A02566BA1FB285020260324A9CCD4F" xlink:to="lab_us-gaap_Assets_90A02566BA1FB285020260324A9CCD4F" xlink:type="arc" />
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_3AD927867F27A573DA5260F981BC76FA_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_3AD927867F27A573DA5260F981BC76FA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities and Capital</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_3AD927867F27A573DA5260F981BC76FA_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_3AD927867F27A573DA5260F981BC76FA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities and Equity [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_3AD927867F27A573DA5260F981BC76FA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_3AD927867F27A573DA5260F981BC76FA" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_3AD927867F27A573DA5260F981BC76FA" xlink:type="arc" />
    <link:label id="lab_us-gaap_LiabilitiesAbstract_3BFCE007B4FF58CAC2C460348D79F325_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract_3BFCE007B4FF58CAC2C460348D79F325" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities:</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAbstract_3BFCE007B4FF58CAC2C460348D79F325_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract_3BFCE007B4FF58CAC2C460348D79F325" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesAbstract" xlink:label="loc_us-gaap_LiabilitiesAbstract_3BFCE007B4FF58CAC2C460348D79F325" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAbstract_3BFCE007B4FF58CAC2C460348D79F325" xlink:to="lab_us-gaap_LiabilitiesAbstract_3BFCE007B4FF58CAC2C460348D79F325" xlink:type="arc" />
    <link:label id="lab_us-gaap_Deposits_F8DFC7569AE2301193E78F2543FDBFD5_terseLabel_en-US" xlink:label="lab_us-gaap_Deposits_F8DFC7569AE2301193E78F2543FDBFD5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deposits</link:label>
    <link:label id="lab_us-gaap_Deposits_F8DFC7569AE2301193E78F2543FDBFD5_label_en-US" xlink:label="lab_us-gaap_Deposits_F8DFC7569AE2301193E78F2543FDBFD5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deposits</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Deposits" xlink:label="loc_us-gaap_Deposits_F8DFC7569AE2301193E78F2543FDBFD5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Deposits_F8DFC7569AE2301193E78F2543FDBFD5" xlink:to="lab_us-gaap_Deposits_F8DFC7569AE2301193E78F2543FDBFD5" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtAndCapitalLeaseObligationsAbstract_770C309617DF0A9AE49E60391D65C169_terseLabel_en-US" xlink:label="lab_us-gaap_DebtAndCapitalLeaseObligationsAbstract_770C309617DF0A9AE49E60391D65C169" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated obligations:</link:label>
    <link:label id="lab_us-gaap_DebtAndCapitalLeaseObligationsAbstract_770C309617DF0A9AE49E60391D65C169_label_en-US" xlink:label="lab_us-gaap_DebtAndCapitalLeaseObligationsAbstract_770C309617DF0A9AE49E60391D65C169" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt and Capital Lease Obligations [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtAndCapitalLeaseObligationsAbstract" xlink:label="loc_us-gaap_DebtAndCapitalLeaseObligationsAbstract_770C309617DF0A9AE49E60391D65C169" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtAndCapitalLeaseObligationsAbstract_770C309617DF0A9AE49E60391D65C169" xlink:to="lab_us-gaap_DebtAndCapitalLeaseObligationsAbstract_770C309617DF0A9AE49E60391D65C169" xlink:type="arc" />
    <link:label id="lab_us-gaap_UnsecuredDebt_EDCAFE29DF51E7F8BEC1603CA382C0EA_terseLabel_en-US" xlink:label="lab_us-gaap_UnsecuredDebt_EDCAFE29DF51E7F8BEC1603CA382C0EA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bonds (includes $11,823 and $15,712 at fair value under the fair value option, respectively)</link:label>
    <link:label id="lab_us-gaap_UnsecuredDebt_EDCAFE29DF51E7F8BEC1603CA382C0EA_label_en-US" xlink:label="lab_us-gaap_UnsecuredDebt_EDCAFE29DF51E7F8BEC1603CA382C0EA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unsecured Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_UnsecuredDebt" xlink:label="loc_us-gaap_UnsecuredDebt_EDCAFE29DF51E7F8BEC1603CA382C0EA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnsecuredDebt_EDCAFE29DF51E7F8BEC1603CA382C0EA" xlink:to="lab_us-gaap_UnsecuredDebt_EDCAFE29DF51E7F8BEC1603CA382C0EA" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherShortTermBorrowings_BD178A7498ACF3B0155B603F35D74BD1_terseLabel_en-US" xlink:label="lab_us-gaap_OtherShortTermBorrowings_BD178A7498ACF3B0155B603F35D74BD1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Discount notes</link:label>
    <link:label id="lab_us-gaap_OtherShortTermBorrowings_BD178A7498ACF3B0155B603F35D74BD1_label_en-US" xlink:label="lab_us-gaap_OtherShortTermBorrowings_BD178A7498ACF3B0155B603F35D74BD1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Short-term Borrowings</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherShortTermBorrowings" xlink:label="loc_us-gaap_OtherShortTermBorrowings_BD178A7498ACF3B0155B603F35D74BD1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherShortTermBorrowings_BD178A7498ACF3B0155B603F35D74BD1" xlink:to="lab_us-gaap_OtherShortTermBorrowings_BD178A7498ACF3B0155B603F35D74BD1" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtAndCapitalLeaseObligations_5FB198F178E39075ED37603FD6EA4337_totalLabel_en-US" xlink:label="lab_us-gaap_DebtAndCapitalLeaseObligations_5FB198F178E39075ED37603FD6EA4337" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total consolidated obligations</link:label>
    <link:label id="lab_us-gaap_DebtAndCapitalLeaseObligations_5FB198F178E39075ED37603FD6EA4337_label_en-US" xlink:label="lab_us-gaap_DebtAndCapitalLeaseObligations_5FB198F178E39075ED37603FD6EA4337" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt and Capital Lease Obligations</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtAndCapitalLeaseObligations" xlink:label="loc_us-gaap_DebtAndCapitalLeaseObligations_5FB198F178E39075ED37603FD6EA4337" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtAndCapitalLeaseObligations_5FB198F178E39075ED37603FD6EA4337" xlink:to="lab_us-gaap_DebtAndCapitalLeaseObligations_5FB198F178E39075ED37603FD6EA4337" xlink:type="arc" />
    <link:label id="lab_us-gaap_SharesSubjectToMandatoryRedemptionSettlementTermsAmount_F949A1605EA586D49029604137A41922_terseLabel_en-US" xlink:label="lab_us-gaap_SharesSubjectToMandatoryRedemptionSettlementTermsAmount_F949A1605EA586D49029604137A41922" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mandatorily redeemable capital stock</link:label>
    <link:label id="lab_us-gaap_SharesSubjectToMandatoryRedemptionSettlementTermsAmount_F949A1605EA586D49029604137A41922_label_en-US" xlink:label="lab_us-gaap_SharesSubjectToMandatoryRedemptionSettlementTermsAmount_F949A1605EA586D49029604137A41922" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Share Value, Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SharesSubjectToMandatoryRedemptionSettlementTermsAmount" xlink:label="loc_us-gaap_SharesSubjectToMandatoryRedemptionSettlementTermsAmount_F949A1605EA586D49029604137A41922" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SharesSubjectToMandatoryRedemptionSettlementTermsAmount_F949A1605EA586D49029604137A41922" xlink:to="lab_us-gaap_SharesSubjectToMandatoryRedemptionSettlementTermsAmount_F949A1605EA586D49029604137A41922" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestPayableCurrentAndNoncurrent_48F07A90AF864B292FBF6041C55E2044_terseLabel_en-US" xlink:label="lab_us-gaap_InterestPayableCurrentAndNoncurrent_48F07A90AF864B292FBF6041C55E2044" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued interest payable</link:label>
    <link:label id="lab_us-gaap_InterestPayableCurrentAndNoncurrent_48F07A90AF864B292FBF6041C55E2044_label_en-US" xlink:label="lab_us-gaap_InterestPayableCurrentAndNoncurrent_48F07A90AF864B292FBF6041C55E2044" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Payable</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestPayableCurrentAndNoncurrent" xlink:label="loc_us-gaap_InterestPayableCurrentAndNoncurrent_48F07A90AF864B292FBF6041C55E2044" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestPayableCurrentAndNoncurrent_48F07A90AF864B292FBF6041C55E2044" xlink:to="lab_us-gaap_InterestPayableCurrentAndNoncurrent_48F07A90AF864B292FBF6041C55E2044" xlink:type="arc" />
    <link:label id="lab_us-gaap_AffordableHousingProgramObligation_501F05BFBA0CB427A7B8617373D1BF12_terseLabel_en-US" xlink:label="lab_us-gaap_AffordableHousingProgramObligation_501F05BFBA0CB427A7B8617373D1BF12" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Affordable Housing Program payable</link:label>
    <link:label id="lab_us-gaap_AffordableHousingProgramObligation_501F05BFBA0CB427A7B8617373D1BF12_label_en-US" xlink:label="lab_us-gaap_AffordableHousingProgramObligation_501F05BFBA0CB427A7B8617373D1BF12" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Affordable Housing Program Obligation</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AffordableHousingProgramObligation" xlink:label="loc_us-gaap_AffordableHousingProgramObligation_501F05BFBA0CB427A7B8617373D1BF12" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AffordableHousingProgramObligation_501F05BFBA0CB427A7B8617373D1BF12" xlink:to="lab_us-gaap_AffordableHousingProgramObligation_501F05BFBA0CB427A7B8617373D1BF12" xlink:type="arc" />
    <link:label id="lab_us-gaap_DerivativeLiabilities_87553E6098149BDB26246042121744FB_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities_87553E6098149BDB26246042121744FB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative liabilities, net</link:label>
    <link:label id="lab_us-gaap_DerivativeLiabilities_87553E6098149BDB26246042121744FB_label_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities_87553E6098149BDB26246042121744FB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Liabilities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DerivativeLiabilities" xlink:label="loc_us-gaap_DerivativeLiabilities_87553E6098149BDB26246042121744FB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilities_87553E6098149BDB26246042121744FB" xlink:to="lab_us-gaap_DerivativeLiabilities_87553E6098149BDB26246042121744FB" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherLiabilities_868D514BEFB73E96A9726042F3CD15F0_terseLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilities_868D514BEFB73E96A9726042F3CD15F0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other liabilities</link:label>
    <link:label id="lab_us-gaap_OtherLiabilities_868D514BEFB73E96A9726042F3CD15F0_label_en-US" xlink:label="lab_us-gaap_OtherLiabilities_868D514BEFB73E96A9726042F3CD15F0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Liabilities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherLiabilities" xlink:label="loc_us-gaap_OtherLiabilities_868D514BEFB73E96A9726042F3CD15F0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherLiabilities_868D514BEFB73E96A9726042F3CD15F0" xlink:to="lab_us-gaap_OtherLiabilities_868D514BEFB73E96A9726042F3CD15F0" xlink:type="arc" />
    <link:label id="lab_us-gaap_Liabilities_9C124CDE995D4C1A5E1B60438A02DA08_totalLabel_en-US" xlink:label="lab_us-gaap_Liabilities_9C124CDE995D4C1A5E1B60438A02DA08" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Liabilities</link:label>
    <link:label id="lab_us-gaap_Liabilities_9C124CDE995D4C1A5E1B60438A02DA08_label_en-US" xlink:label="lab_us-gaap_Liabilities_9C124CDE995D4C1A5E1B60438A02DA08" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Liabilities" xlink:label="loc_us-gaap_Liabilities_9C124CDE995D4C1A5E1B60438A02DA08" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Liabilities_9C124CDE995D4C1A5E1B60438A02DA08" xlink:to="lab_us-gaap_Liabilities_9C124CDE995D4C1A5E1B60438A02DA08" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommitmentsAndContingencies_13A7399DA4D3DBCF3ADA60455BA74A3D_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies_13A7399DA4D3DBCF3ADA60455BA74A3D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies (Note 17)</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingencies_13A7399DA4D3DBCF3ADA60455BA74A3D_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies_13A7399DA4D3DBCF3ADA60455BA74A3D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="loc_us-gaap_CommitmentsAndContingencies_13A7399DA4D3DBCF3ADA60455BA74A3D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingencies_13A7399DA4D3DBCF3ADA60455BA74A3D" xlink:to="lab_us-gaap_CommitmentsAndContingencies_13A7399DA4D3DBCF3ADA60455BA74A3D" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockholdersEquityAbstract_97B69D2025267472062160FC0174414C_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityAbstract_97B69D2025267472062160FC0174414C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital:</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityAbstract_97B69D2025267472062160FC0174414C_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityAbstract_97B69D2025267472062160FC0174414C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity Attributable to Parent [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="loc_us-gaap_StockholdersEquityAbstract_97B69D2025267472062160FC0174414C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityAbstract_97B69D2025267472062160FC0174414C" xlink:to="lab_us-gaap_StockholdersEquityAbstract_97B69D2025267472062160FC0174414C" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommonStockOtherValueOutstanding_BADBCE27F7BE5FC790D17AD08518F540_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockOtherValueOutstanding_BADBCE27F7BE5FC790D17AD08518F540" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital stock-Class B-Putable ($100 par value) issued and outstanding: 47 shares and 48 shares, respectively</link:label>
    <link:label id="lab_us-gaap_CommonStockOtherValueOutstanding_BADBCE27F7BE5FC790D17AD08518F540_label_en-US" xlink:label="lab_us-gaap_CommonStockOtherValueOutstanding_BADBCE27F7BE5FC790D17AD08518F540" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Other Value, Outstanding</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockOtherValueOutstanding" xlink:label="loc_us-gaap_CommonStockOtherValueOutstanding_BADBCE27F7BE5FC790D17AD08518F540" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockOtherValueOutstanding_BADBCE27F7BE5FC790D17AD08518F540" xlink:to="lab_us-gaap_CommonStockOtherValueOutstanding_BADBCE27F7BE5FC790D17AD08518F540" xlink:type="arc" />
    <link:label id="lab_us-gaap_RetainedEarningsUnappropriated_39CEA659930E656147E70ACCD0CE59EE_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsUnappropriated_39CEA659930E656147E70ACCD0CE59EE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrestricted retained earnings</link:label>
    <link:label id="lab_us-gaap_RetainedEarningsUnappropriated_39CEA659930E656147E70ACCD0CE59EE_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsUnappropriated_39CEA659930E656147E70ACCD0CE59EE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings, Unappropriated</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsUnappropriated" xlink:label="loc_us-gaap_RetainedEarningsUnappropriated_39CEA659930E656147E70ACCD0CE59EE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsUnappropriated_39CEA659930E656147E70ACCD0CE59EE" xlink:to="lab_us-gaap_RetainedEarningsUnappropriated_39CEA659930E656147E70ACCD0CE59EE" xlink:type="arc" />
    <link:label id="lab_us-gaap_RetainedEarningsAppropriated_BF476BF36350C3B72D0E6049E8577E8E_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsAppropriated_BF476BF36350C3B72D0E6049E8577E8E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted retained earnings</link:label>
    <link:label id="lab_us-gaap_RetainedEarningsAppropriated_BF476BF36350C3B72D0E6049E8577E8E_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsAppropriated_BF476BF36350C3B72D0E6049E8577E8E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings, Appropriated</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsAppropriated" xlink:label="loc_us-gaap_RetainedEarningsAppropriated_BF476BF36350C3B72D0E6049E8577E8E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsAppropriated_BF476BF36350C3B72D0E6049E8577E8E" xlink:to="lab_us-gaap_RetainedEarningsAppropriated_BF476BF36350C3B72D0E6049E8577E8E" xlink:type="arc" />
    <link:label id="lab_us-gaap_RetainedEarningsAccumulatedDeficit_2DD0E95083C3971F38730ACDB7362095_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit_2DD0E95083C3971F38730ACDB7362095" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total Retained Earnings</link:label>
    <link:label id="lab_us-gaap_RetainedEarningsAccumulatedDeficit_2DD0E95083C3971F38730ACDB7362095_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit_2DD0E95083C3971F38730ACDB7362095" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings (Accumulated Deficit)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit_2DD0E95083C3971F38730ACDB7362095" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsAccumulatedDeficit_2DD0E95083C3971F38730ACDB7362095" xlink:to="lab_us-gaap_RetainedEarningsAccumulatedDeficit_2DD0E95083C3971F38730ACDB7362095" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossOtherThanTemporaryImpairmentNotCreditLossNetOfTaxHeldtomaturityDebtSecurities_65B2D1FD60C7FD83721B90AEBD2ED4F8_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossOtherThanTemporaryImpairmentNotCreditLossNetOfTaxHeldtomaturityDebtSecurities_65B2D1FD60C7FD83721B90AEBD2ED4F8" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Non-credit-related other-than-temporary impairment loss on held-to-maturity securities</link:label>
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossOtherThanTemporaryImpairmentNotCreditLossNetOfTaxHeldtomaturityDebtSecurities_65B2D1FD60C7FD83721B90AEBD2ED4F8_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossOtherThanTemporaryImpairmentNotCreditLossNetOfTaxHeldtomaturityDebtSecurities_65B2D1FD60C7FD83721B90AEBD2ED4F8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Other than Temporary Impairment, Not Credit Loss, Net of Tax, Held-to-maturity, Debt Securities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossOtherThanTemporaryImpairmentNotCreditLossNetOfTaxHeldtomaturityDebtSecurities" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossOtherThanTemporaryImpairmentNotCreditLossNetOfTaxHeldtomaturityDebtSecurities_65B2D1FD60C7FD83721B90AEBD2ED4F8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossOtherThanTemporaryImpairmentNotCreditLossNetOfTaxHeldtomaturityDebtSecurities_65B2D1FD60C7FD83721B90AEBD2ED4F8" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossOtherThanTemporaryImpairmentNotCreditLossNetOfTaxHeldtomaturityDebtSecurities_65B2D1FD60C7FD83721B90AEBD2ED4F8" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossOtherThanTemporaryImpairmentNotCreditLossNetOfTaxAvailableforsaleDebtSecurities_989C8D817E94569F12A08F819D18B9F6_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossOtherThanTemporaryImpairmentNotCreditLossNetOfTaxAvailableforsaleDebtSecurities_989C8D817E94569F12A08F819D18B9F6" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Non-credit portion of other-than temporary impairment loss on available-for-sale securities</link:label>
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossOtherThanTemporaryImpairmentNotCreditLossNetOfTaxAvailableforsaleDebtSecurities_989C8D817E94569F12A08F819D18B9F6_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossOtherThanTemporaryImpairmentNotCreditLossNetOfTaxAvailableforsaleDebtSecurities_989C8D817E94569F12A08F819D18B9F6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Other than Temporary Impairment, Not Credit Loss, Net of Tax, Available-for-sale, Debt Securities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossOtherThanTemporaryImpairmentNotCreditLossNetOfTaxAvailableforsaleDebtSecurities" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossOtherThanTemporaryImpairmentNotCreditLossNetOfTaxAvailableforsaleDebtSecurities_989C8D817E94569F12A08F819D18B9F6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossOtherThanTemporaryImpairmentNotCreditLossNetOfTaxAvailableforsaleDebtSecurities_989C8D817E94569F12A08F819D18B9F6" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossOtherThanTemporaryImpairmentNotCreditLossNetOfTaxAvailableforsaleDebtSecurities_989C8D817E94569F12A08F819D18B9F6" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax_5CBE5C84B0071ACC0E1E7A82F7FE58B5_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax_5CBE5C84B0071ACC0E1E7A82F7FE58B5" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax_5CBE5C84B0071ACC0E1E7A82F7FE58B5_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax_5CBE5C84B0071ACC0E1E7A82F7FE58B5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax_5CBE5C84B0071ACC0E1E7A82F7FE58B5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax_5CBE5C84B0071ACC0E1E7A82F7FE58B5" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax_5CBE5C84B0071ACC0E1E7A82F7FE58B5" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_39EC63D400EBE8563D18604B544C2F0E_totalLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_39EC63D400EBE8563D18604B544C2F0E" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Accumulated other comprehensive income/(loss)</link:label>
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_39EC63D400EBE8563D18604B544C2F0E_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_39EC63D400EBE8563D18604B544C2F0E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Net of Tax</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_39EC63D400EBE8563D18604B544C2F0E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_39EC63D400EBE8563D18604B544C2F0E" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_39EC63D400EBE8563D18604B544C2F0E" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockholdersEquity_E843D2E50185A50C29D2604D63D5B7E1_totalLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquity_E843D2E50185A50C29D2604D63D5B7E1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Capital</link:label>
    <link:label id="lab_us-gaap_StockholdersEquity_E843D2E50185A50C29D2604D63D5B7E1_label_en-US" xlink:label="lab_us-gaap_StockholdersEquity_E843D2E50185A50C29D2604D63D5B7E1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity Attributable to Parent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="loc_us-gaap_StockholdersEquity_E843D2E50185A50C29D2604D63D5B7E1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquity_E843D2E50185A50C29D2604D63D5B7E1" xlink:to="lab_us-gaap_StockholdersEquity_E843D2E50185A50C29D2604D63D5B7E1" xlink:type="arc" />
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_16922BD93EC987750B1F604E72F48A6C_totalLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity_16922BD93EC987750B1F604E72F48A6C" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Liabilities and Capital</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_16922BD93EC987750B1F604E72F48A6C_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity_16922BD93EC987750B1F604E72F48A6C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities and Equity</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity_16922BD93EC987750B1F604E72F48A6C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_16922BD93EC987750B1F604E72F48A6C" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquity_16922BD93EC987750B1F604E72F48A6C" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsAbstract_58A0A1D2CD5CE87FDCCCD711E574A7A3_label_en-US" xlink:label="lab_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsAbstract_58A0A1D2CD5CE87FDCCCD711E574A7A3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other than Temporary Impairment Losses, Investments [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsAbstract" xlink:label="loc_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsAbstract_58A0A1D2CD5CE87FDCCCD711E574A7A3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsAbstract_58A0A1D2CD5CE87FDCCCD711E574A7A3" xlink:to="lab_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsAbstract_58A0A1D2CD5CE87FDCCCD711E574A7A3" xlink:type="arc" />
    <link:label id="lab_fhlbsf_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsDisclosureTextBlock_C2D36BAD0E6659B903AA8F46CF2CE7F8_terseLabel_en-US" xlink:label="lab_fhlbsf_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsDisclosureTextBlock_C2D36BAD0E6659B903AA8F46CF2CE7F8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other-than-Temporary Impairment Analysis</link:label>
    <link:label id="lab_fhlbsf_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsDisclosureTextBlock_C2D36BAD0E6659B903AA8F46CF2CE7F8_label_en-US" xlink:label="lab_fhlbsf_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsDisclosureTextBlock_C2D36BAD0E6659B903AA8F46CF2CE7F8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Than Temporary Impairment Credit Losses Recognized In Earnings Disclosure [Text Block]</link:label>
    <link:label id="lab_fhlbsf_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsDisclosureTextBlock_C2D36BAD0E6659B903AA8F46CF2CE7F8_documentation_en-US" xlink:label="lab_fhlbsf_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsDisclosureTextBlock_C2D36BAD0E6659B903AA8F46CF2CE7F8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This item represents the entire disclosure related to the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsDisclosureTextBlock" xlink:label="loc_fhlbsf_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsDisclosureTextBlock_C2D36BAD0E6659B903AA8F46CF2CE7F8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsDisclosureTextBlock_C2D36BAD0E6659B903AA8F46CF2CE7F8" xlink:to="lab_fhlbsf_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsDisclosureTextBlock_C2D36BAD0E6659B903AA8F46CF2CE7F8" xlink:type="arc" />
    <link:label id="lab_us-gaap_LoansAndLeasesReceivableAllowanceAbstract_942B0F1DC193CC5BAC5F7B00A1238EE0_label_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableAllowanceAbstract_942B0F1DC193CC5BAC5F7B00A1238EE0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans and Leases Receivable, Allowance [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LoansAndLeasesReceivableAllowanceAbstract" xlink:label="loc_us-gaap_LoansAndLeasesReceivableAllowanceAbstract_942B0F1DC193CC5BAC5F7B00A1238EE0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansAndLeasesReceivableAllowanceAbstract_942B0F1DC193CC5BAC5F7B00A1238EE0" xlink:to="lab_us-gaap_LoansAndLeasesReceivableAllowanceAbstract_942B0F1DC193CC5BAC5F7B00A1238EE0" xlink:type="arc" />
    <link:label id="lab_us-gaap_AllowanceForCreditLossesTextBlock_AECD18D27D03056C60078F20DFAE9E8F_terseLabel_en-US" xlink:label="lab_us-gaap_AllowanceForCreditLossesTextBlock_AECD18D27D03056C60078F20DFAE9E8F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Allowance for Credit Losses</link:label>
    <link:label id="lab_us-gaap_AllowanceForCreditLossesTextBlock_AECD18D27D03056C60078F20DFAE9E8F_label_en-US" xlink:label="lab_us-gaap_AllowanceForCreditLossesTextBlock_AECD18D27D03056C60078F20DFAE9E8F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Allowance for Credit Losses [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AllowanceForCreditLossesTextBlock" xlink:label="loc_us-gaap_AllowanceForCreditLossesTextBlock_AECD18D27D03056C60078F20DFAE9E8F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllowanceForCreditLossesTextBlock_AECD18D27D03056C60078F20DFAE9E8F" xlink:to="lab_us-gaap_AllowanceForCreditLossesTextBlock_AECD18D27D03056C60078F20DFAE9E8F" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeStatementAbstract_B8869CE2309503A7FBCB65205803B852_label_en-US" xlink:label="lab_us-gaap_IncomeStatementAbstract_B8869CE2309503A7FBCB65205803B852" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="loc_us-gaap_IncomeStatementAbstract_B8869CE2309503A7FBCB65205803B852" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementAbstract_B8869CE2309503A7FBCB65205803B852" xlink:to="lab_us-gaap_IncomeStatementAbstract_B8869CE2309503A7FBCB65205803B852" xlink:type="arc" />
    <link:label id="lab_us-gaap_StatementEquityComponentsAxis_D5341AA463A7CBEE6238B06742BE85D6_label_en-US" xlink:label="lab_us-gaap_StatementEquityComponentsAxis_D5341AA463A7CBEE6238B06742BE85D6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement, Equity Components [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="loc_us-gaap_StatementEquityComponentsAxis_D5341AA463A7CBEE6238B06742BE85D6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementEquityComponentsAxis_D5341AA463A7CBEE6238B06742BE85D6" xlink:to="lab_us-gaap_StatementEquityComponentsAxis_D5341AA463A7CBEE6238B06742BE85D6" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityComponentDomain_C74E93B8EDB9A9DF98A0B06742BEC30F_label_en-US" xlink:label="lab_us-gaap_EquityComponentDomain_C74E93B8EDB9A9DF98A0B06742BEC30F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Component [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaap_EquityComponentDomain_C74E93B8EDB9A9DF98A0B06742BEC30F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityComponentDomain_C74E93B8EDB9A9DF98A0B06742BEC30F" xlink:to="lab_us-gaap_EquityComponentDomain_C74E93B8EDB9A9DF98A0B06742BEC30F" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_FAFA4BE7991D976E1BBBB067431C8234_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_FAFA4BE7991D976E1BBBB067431C8234" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss) [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeMember_FAFA4BE7991D976E1BBBB067431C8234" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeMember_FAFA4BE7991D976E1BBBB067431C8234" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_FAFA4BE7991D976E1BBBB067431C8234" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestAndDividendIncomeOperatingAbstract_59AB8F84ACB47E364D75653099429997_terseLabel_en-US" xlink:label="lab_us-gaap_InterestAndDividendIncomeOperatingAbstract_59AB8F84ACB47E364D75653099429997" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest Income:</link:label>
    <link:label id="lab_us-gaap_InterestAndDividendIncomeOperatingAbstract_59AB8F84ACB47E364D75653099429997_label_en-US" xlink:label="lab_us-gaap_InterestAndDividendIncomeOperatingAbstract_59AB8F84ACB47E364D75653099429997" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest and Dividend Income, Operating [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestAndDividendIncomeOperatingAbstract" xlink:label="loc_us-gaap_InterestAndDividendIncomeOperatingAbstract_59AB8F84ACB47E364D75653099429997" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestAndDividendIncomeOperatingAbstract_59AB8F84ACB47E364D75653099429997" xlink:to="lab_us-gaap_InterestAndDividendIncomeOperatingAbstract_59AB8F84ACB47E364D75653099429997" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestIncomeFederalHomeLoanBankAdvances_21639A98C48193DE97C96560BF775A70_terseLabel_en-US" xlink:label="lab_us-gaap_InterestIncomeFederalHomeLoanBankAdvances_21639A98C48193DE97C96560BF775A70" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Advances</link:label>
    <link:label id="lab_us-gaap_InterestIncomeFederalHomeLoanBankAdvances_21639A98C48193DE97C96560BF775A70_label_en-US" xlink:label="lab_us-gaap_InterestIncomeFederalHomeLoanBankAdvances_21639A98C48193DE97C96560BF775A70" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Income, Federal Home Loan Bank Advances</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestIncomeFederalHomeLoanBankAdvances" xlink:label="loc_us-gaap_InterestIncomeFederalHomeLoanBankAdvances_21639A98C48193DE97C96560BF775A70" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestIncomeFederalHomeLoanBankAdvances_21639A98C48193DE97C96560BF775A70" xlink:to="lab_us-gaap_InterestIncomeFederalHomeLoanBankAdvances_21639A98C48193DE97C96560BF775A70" xlink:type="arc" />
    <link:label id="lab_us-gaap_PrepaymentFeesOnAdvancesNet_43B5116F0C536D75430465622DDD3B81_terseLabel_en-US" xlink:label="lab_us-gaap_PrepaymentFeesOnAdvancesNet_43B5116F0C536D75430465622DDD3B81" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prepayment fees on advances, net</link:label>
    <link:label id="lab_us-gaap_PrepaymentFeesOnAdvancesNet_43B5116F0C536D75430465622DDD3B81_label_en-US" xlink:label="lab_us-gaap_PrepaymentFeesOnAdvancesNet_43B5116F0C536D75430465622DDD3B81" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prepayment Fees on Advances, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PrepaymentFeesOnAdvancesNet" xlink:label="loc_us-gaap_PrepaymentFeesOnAdvancesNet_43B5116F0C536D75430465622DDD3B81" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PrepaymentFeesOnAdvancesNet_43B5116F0C536D75430465622DDD3B81" xlink:to="lab_us-gaap_PrepaymentFeesOnAdvancesNet_43B5116F0C536D75430465622DDD3B81" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestIncomeFederalFundsSold_52B9D5BC0BBB3889A0426538E4B37541_terseLabel_en-US" xlink:label="lab_us-gaap_InterestIncomeFederalFundsSold_52B9D5BC0BBB3889A0426538E4B37541" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Federal funds sold</link:label>
    <link:label id="lab_us-gaap_InterestIncomeFederalFundsSold_52B9D5BC0BBB3889A0426538E4B37541_label_en-US" xlink:label="lab_us-gaap_InterestIncomeFederalFundsSold_52B9D5BC0BBB3889A0426538E4B37541" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Income, Federal Funds Sold</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestIncomeFederalFundsSold" xlink:label="loc_us-gaap_InterestIncomeFederalFundsSold_52B9D5BC0BBB3889A0426538E4B37541" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestIncomeFederalFundsSold_52B9D5BC0BBB3889A0426538E4B37541" xlink:to="lab_us-gaap_InterestIncomeFederalFundsSold_52B9D5BC0BBB3889A0426538E4B37541" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue_B0847E6482BA4B0457F76539B448DE97_terseLabel_en-US" xlink:label="lab_us-gaap_InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue_B0847E6482BA4B0457F76539B448DE97" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trading securities</link:label>
    <link:label id="lab_us-gaap_InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue_B0847E6482BA4B0457F76539B448DE97_label_en-US" xlink:label="lab_us-gaap_InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue_B0847E6482BA4B0457F76539B448DE97" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest and Dividend Income, Securities, Trading or Measured at Fair Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue" xlink:label="loc_us-gaap_InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue_B0847E6482BA4B0457F76539B448DE97" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue_B0847E6482BA4B0457F76539B448DE97" xlink:to="lab_us-gaap_InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue_B0847E6482BA4B0457F76539B448DE97" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestAndDividendIncomeSecuritiesAvailableForSale_A8B80ACACFEC52F1C1BD653A426FD6A8_terseLabel_en-US" xlink:label="lab_us-gaap_InterestAndDividendIncomeSecuritiesAvailableForSale_A8B80ACACFEC52F1C1BD653A426FD6A8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Available-for-sale securities</link:label>
    <link:label id="lab_us-gaap_InterestAndDividendIncomeSecuritiesAvailableForSale_A8B80ACACFEC52F1C1BD653A426FD6A8_label_en-US" xlink:label="lab_us-gaap_InterestAndDividendIncomeSecuritiesAvailableForSale_A8B80ACACFEC52F1C1BD653A426FD6A8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest and Dividend Income, Securities, Available-for-sale</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestAndDividendIncomeSecuritiesAvailableForSale" xlink:label="loc_us-gaap_InterestAndDividendIncomeSecuritiesAvailableForSale_A8B80ACACFEC52F1C1BD653A426FD6A8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestAndDividendIncomeSecuritiesAvailableForSale_A8B80ACACFEC52F1C1BD653A426FD6A8" xlink:to="lab_us-gaap_InterestAndDividendIncomeSecuritiesAvailableForSale_A8B80ACACFEC52F1C1BD653A426FD6A8" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestAndDividendIncomeSecuritiesHeldToMaturity_D3288AED302064FDA153653B11781F97_terseLabel_en-US" xlink:label="lab_us-gaap_InterestAndDividendIncomeSecuritiesHeldToMaturity_D3288AED302064FDA153653B11781F97" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Held-to-maturity securities</link:label>
    <link:label id="lab_us-gaap_InterestAndDividendIncomeSecuritiesHeldToMaturity_D3288AED302064FDA153653B11781F97_label_en-US" xlink:label="lab_us-gaap_InterestAndDividendIncomeSecuritiesHeldToMaturity_D3288AED302064FDA153653B11781F97" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest and Dividend Income, Securities, Held-to-maturity</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestAndDividendIncomeSecuritiesHeldToMaturity" xlink:label="loc_us-gaap_InterestAndDividendIncomeSecuritiesHeldToMaturity_D3288AED302064FDA153653B11781F97" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestAndDividendIncomeSecuritiesHeldToMaturity_D3288AED302064FDA153653B11781F97" xlink:to="lab_us-gaap_InterestAndDividendIncomeSecuritiesHeldToMaturity_D3288AED302064FDA153653B11781F97" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestAndFeeIncomeLoansConsumerRealEstate_6C4DC6983016003E79B4653E550D93DA_terseLabel_en-US" xlink:label="lab_us-gaap_InterestAndFeeIncomeLoansConsumerRealEstate_6C4DC6983016003E79B4653E550D93DA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgage loans held for portfolio</link:label>
    <link:label id="lab_us-gaap_InterestAndFeeIncomeLoansConsumerRealEstate_6C4DC6983016003E79B4653E550D93DA_label_en-US" xlink:label="lab_us-gaap_InterestAndFeeIncomeLoansConsumerRealEstate_6C4DC6983016003E79B4653E550D93DA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest and Fee Income, Loans, Consumer, Real Estate</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestAndFeeIncomeLoansConsumerRealEstate" xlink:label="loc_us-gaap_InterestAndFeeIncomeLoansConsumerRealEstate_6C4DC6983016003E79B4653E550D93DA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestAndFeeIncomeLoansConsumerRealEstate_6C4DC6983016003E79B4653E550D93DA" xlink:to="lab_us-gaap_InterestAndFeeIncomeLoansConsumerRealEstate_6C4DC6983016003E79B4653E550D93DA" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestAndDividendIncomeOperating_370F1CF40B2DF84DEB5B653EDAC88296_totalLabel_en-US" xlink:label="lab_us-gaap_InterestAndDividendIncomeOperating_370F1CF40B2DF84DEB5B653EDAC88296" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Interest Income</link:label>
    <link:label id="lab_us-gaap_InterestAndDividendIncomeOperating_370F1CF40B2DF84DEB5B653EDAC88296_label_en-US" xlink:label="lab_us-gaap_InterestAndDividendIncomeOperating_370F1CF40B2DF84DEB5B653EDAC88296" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest and Dividend Income, Operating</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestAndDividendIncomeOperating" xlink:label="loc_us-gaap_InterestAndDividendIncomeOperating_370F1CF40B2DF84DEB5B653EDAC88296" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestAndDividendIncomeOperating_370F1CF40B2DF84DEB5B653EDAC88296" xlink:to="lab_us-gaap_InterestAndDividendIncomeOperating_370F1CF40B2DF84DEB5B653EDAC88296" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestExpenseAbstract_7709B13F622557BA759C653F0D800690_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseAbstract_7709B13F622557BA759C653F0D800690" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest Expense:</link:label>
    <link:label id="lab_us-gaap_InterestExpenseAbstract_7709B13F622557BA759C653F0D800690_label_en-US" xlink:label="lab_us-gaap_InterestExpenseAbstract_7709B13F622557BA759C653F0D800690" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestExpenseAbstract" xlink:label="loc_us-gaap_InterestExpenseAbstract_7709B13F622557BA759C653F0D800690" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseAbstract_7709B13F622557BA759C653F0D800690" xlink:to="lab_us-gaap_InterestExpenseAbstract_7709B13F622557BA759C653F0D800690" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestExpenseBorrowingsAbstract_F87828D5590C0F032F3F662E648C7A6A_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseBorrowingsAbstract_F87828D5590C0F032F3F662E648C7A6A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated obligations:</link:label>
    <link:label id="lab_us-gaap_InterestExpenseBorrowingsAbstract_F87828D5590C0F032F3F662E648C7A6A_label_en-US" xlink:label="lab_us-gaap_InterestExpenseBorrowingsAbstract_F87828D5590C0F032F3F662E648C7A6A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense, Borrowings [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestExpenseBorrowingsAbstract" xlink:label="loc_us-gaap_InterestExpenseBorrowingsAbstract_F87828D5590C0F032F3F662E648C7A6A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseBorrowingsAbstract_F87828D5590C0F032F3F662E648C7A6A" xlink:to="lab_us-gaap_InterestExpenseBorrowingsAbstract_F87828D5590C0F032F3F662E648C7A6A" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestExpenseOtherLongTermDebt_E2AEE64EADFD63391A7465436092592A_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseOtherLongTermDebt_E2AEE64EADFD63391A7465436092592A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bonds</link:label>
    <link:label id="lab_us-gaap_InterestExpenseOtherLongTermDebt_E2AEE64EADFD63391A7465436092592A_label_en-US" xlink:label="lab_us-gaap_InterestExpenseOtherLongTermDebt_E2AEE64EADFD63391A7465436092592A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense, Other Long-term Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestExpenseOtherLongTermDebt" xlink:label="loc_us-gaap_InterestExpenseOtherLongTermDebt_E2AEE64EADFD63391A7465436092592A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseOtherLongTermDebt_E2AEE64EADFD63391A7465436092592A" xlink:to="lab_us-gaap_InterestExpenseOtherLongTermDebt_E2AEE64EADFD63391A7465436092592A" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestExpenseOtherShortTermBorrowings_B784EE1BB5CE2E9C7E24654622066CCF_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseOtherShortTermBorrowings_B784EE1BB5CE2E9C7E24654622066CCF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Discount notes</link:label>
    <link:label id="lab_us-gaap_InterestExpenseOtherShortTermBorrowings_B784EE1BB5CE2E9C7E24654622066CCF_label_en-US" xlink:label="lab_us-gaap_InterestExpenseOtherShortTermBorrowings_B784EE1BB5CE2E9C7E24654622066CCF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense, Other Short-term Borrowings</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestExpenseOtherShortTermBorrowings" xlink:label="loc_us-gaap_InterestExpenseOtherShortTermBorrowings_B784EE1BB5CE2E9C7E24654622066CCF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseOtherShortTermBorrowings_B784EE1BB5CE2E9C7E24654622066CCF" xlink:to="lab_us-gaap_InterestExpenseOtherShortTermBorrowings_B784EE1BB5CE2E9C7E24654622066CCF" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestExpenseCapitalSecurities_D0552BAE5C7AA3467D36654A4D1D6AE0_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseCapitalSecurities_D0552BAE5C7AA3467D36654A4D1D6AE0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mandatorily redeemable capital stock</link:label>
    <link:label id="lab_us-gaap_InterestExpenseCapitalSecurities_D0552BAE5C7AA3467D36654A4D1D6AE0_label_en-US" xlink:label="lab_us-gaap_InterestExpenseCapitalSecurities_D0552BAE5C7AA3467D36654A4D1D6AE0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense, Capital Securities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestExpenseCapitalSecurities" xlink:label="loc_us-gaap_InterestExpenseCapitalSecurities_D0552BAE5C7AA3467D36654A4D1D6AE0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseCapitalSecurities_D0552BAE5C7AA3467D36654A4D1D6AE0" xlink:to="lab_us-gaap_InterestExpenseCapitalSecurities_D0552BAE5C7AA3467D36654A4D1D6AE0" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestExpense_57E780DAFE3E3591B0DA654B0DCE74BE_totalLabel_en-US" xlink:label="lab_us-gaap_InterestExpense_57E780DAFE3E3591B0DA654B0DCE74BE" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Interest Expense</link:label>
    <link:label id="lab_us-gaap_InterestExpense_57E780DAFE3E3591B0DA654B0DCE74BE_label_en-US" xlink:label="lab_us-gaap_InterestExpense_57E780DAFE3E3591B0DA654B0DCE74BE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestExpense" xlink:label="loc_us-gaap_InterestExpense_57E780DAFE3E3591B0DA654B0DCE74BE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpense_57E780DAFE3E3591B0DA654B0DCE74BE" xlink:to="lab_us-gaap_InterestExpense_57E780DAFE3E3591B0DA654B0DCE74BE" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestIncomeExpenseNet_37184DF6BA043BED5C41654D8A2B8235_terseLabel_en-US" xlink:label="lab_us-gaap_InterestIncomeExpenseNet_37184DF6BA043BED5C41654D8A2B8235" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net Interest Income</link:label>
    <link:label id="lab_us-gaap_InterestIncomeExpenseNet_37184DF6BA043BED5C41654D8A2B8235_label_en-US" xlink:label="lab_us-gaap_InterestIncomeExpenseNet_37184DF6BA043BED5C41654D8A2B8235" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Income (Expense), Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestIncomeExpenseNet" xlink:label="loc_us-gaap_InterestIncomeExpenseNet_37184DF6BA043BED5C41654D8A2B8235" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestIncomeExpenseNet_37184DF6BA043BED5C41654D8A2B8235" xlink:to="lab_us-gaap_InterestIncomeExpenseNet_37184DF6BA043BED5C41654D8A2B8235" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss_02E834FB420AE3CE9BC7654EF7E54324_terseLabel_en-US" xlink:label="lab_us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss_02E834FB420AE3CE9BC7654EF7E54324" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net Interest Income After Mortgage Loan Loss Provision</link:label>
    <link:label id="lab_us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss_02E834FB420AE3CE9BC7654EF7E54324_label_en-US" xlink:label="lab_us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss_02E834FB420AE3CE9BC7654EF7E54324" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Income (Expense), after Provision for Loan Loss</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss" xlink:label="loc_us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss_02E834FB420AE3CE9BC7654EF7E54324" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss_02E834FB420AE3CE9BC7654EF7E54324" xlink:to="lab_us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss_02E834FB420AE3CE9BC7654EF7E54324" xlink:type="arc" />
    <link:label id="lab_us-gaap_NoninterestIncomeOtherAbstract_5822BD0935E25FB126AB654F55C456B0_terseLabel_en-US" xlink:label="lab_us-gaap_NoninterestIncomeOtherAbstract_5822BD0935E25FB126AB654F55C456B0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Income/(Loss):</link:label>
    <link:label id="lab_us-gaap_NoninterestIncomeOtherAbstract_5822BD0935E25FB126AB654F55C456B0_label_en-US" xlink:label="lab_us-gaap_NoninterestIncomeOtherAbstract_5822BD0935E25FB126AB654F55C456B0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noninterest Income, Other [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NoninterestIncomeOtherAbstract" xlink:label="loc_us-gaap_NoninterestIncomeOtherAbstract_5822BD0935E25FB126AB654F55C456B0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoninterestIncomeOtherAbstract_5822BD0935E25FB126AB654F55C456B0" xlink:to="lab_us-gaap_NoninterestIncomeOtherAbstract_5822BD0935E25FB126AB654F55C456B0" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetRealizedOrUnrealizedGainLossOnTradingSecurities_2065B6C76BA8738224957ADAE13624FF_terseLabel_en-US" xlink:label="lab_us-gaap_NetRealizedOrUnrealizedGainLossOnTradingSecurities_2065B6C76BA8738224957ADAE13624FF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net gain/(loss) on trading securities</link:label>
    <link:label id="lab_us-gaap_NetRealizedOrUnrealizedGainLossOnTradingSecurities_2065B6C76BA8738224957ADAE13624FF_label_en-US" xlink:label="lab_us-gaap_NetRealizedOrUnrealizedGainLossOnTradingSecurities_2065B6C76BA8738224957ADAE13624FF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Realized and Unrealized Gain (Loss) on Trading Securities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetRealizedOrUnrealizedGainLossOnTradingSecurities" xlink:label="loc_us-gaap_NetRealizedOrUnrealizedGainLossOnTradingSecurities_2065B6C76BA8738224957ADAE13624FF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetRealizedOrUnrealizedGainLossOnTradingSecurities_2065B6C76BA8738224957ADAE13624FF" xlink:to="lab_us-gaap_NetRealizedOrUnrealizedGainLossOnTradingSecurities_2065B6C76BA8738224957ADAE13624FF" xlink:type="arc" />
    <link:label id="lab_us-gaap_ImpairmentOfInvestments_AFF4F44445C93BF9122A8F2BB009785B_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_ImpairmentOfInvestments_AFF4F44445C93BF9122A8F2BB009785B" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Total other-than-temporary impairment (OTTI) loss</link:label>
    <link:label id="lab_us-gaap_ImpairmentOfInvestments_AFF4F44445C93BF9122A8F2BB009785B_label_en-US" xlink:label="lab_us-gaap_ImpairmentOfInvestments_AFF4F44445C93BF9122A8F2BB009785B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other than Temporary Impairment Losses, Investments</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ImpairmentOfInvestments" xlink:label="loc_us-gaap_ImpairmentOfInvestments_AFF4F44445C93BF9122A8F2BB009785B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ImpairmentOfInvestments_AFF4F44445C93BF9122A8F2BB009785B" xlink:to="lab_us-gaap_ImpairmentOfInvestments_AFF4F44445C93BF9122A8F2BB009785B" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent_6647FD32F42B63341B548B344777DBA4_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent_6647FD32F42B63341B548B344777DBA4" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Net amount of OTTI loss reclassified to/(from) accumulated other comprehensive income/(loss)</link:label>
    <link:label id="lab_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent_6647FD32F42B63341B548B344777DBA4_label_en-US" xlink:label="lab_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent_6647FD32F42B63341B548B344777DBA4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other than Temporary Impairment Losses, Investments, Portion in Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent" xlink:label="loc_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent_6647FD32F42B63341B548B344777DBA4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent_6647FD32F42B63341B548B344777DBA4" xlink:to="lab_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent_6647FD32F42B63341B548B344777DBA4" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet_C29B995CEAF6F0EC07F38F92F2280548_negatedTotalLabel_en-US" xlink:label="lab_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet_C29B995CEAF6F0EC07F38F92F2280548" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Net OTTI loss, credit portion</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet" xlink:label="loc_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet_C29B995CEAF6F0EC07F38F92F2280548" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet_C29B995CEAF6F0EC07F38F92F2280548" xlink:to="lab_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet_C29B995CEAF6F0EC07F38F92F2280548" xlink:type="arc" />
    <link:label id="lab_us-gaap_FairValueOptionChangesInFairValueGainLoss_21504B21510B97CEE5BF8F8F13175E77_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueOptionChangesInFairValueGainLoss_21504B21510B97CEE5BF8F8F13175E77" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net gain/(loss) on advances and consolidated obligation bonds held under fair value option</link:label>
    <link:label id="lab_us-gaap_FairValueOptionChangesInFairValueGainLoss_21504B21510B97CEE5BF8F8F13175E77_label_en-US" xlink:label="lab_us-gaap_FairValueOptionChangesInFairValueGainLoss_21504B21510B97CEE5BF8F8F13175E77" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Option, Changes in Fair Value, Gain (Loss)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueOptionChangesInFairValueGainLoss" xlink:label="loc_us-gaap_FairValueOptionChangesInFairValueGainLoss_21504B21510B97CEE5BF8F8F13175E77" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueOptionChangesInFairValueGainLoss_21504B21510B97CEE5BF8F8F13175E77" xlink:to="lab_us-gaap_FairValueOptionChangesInFairValueGainLoss_21504B21510B97CEE5BF8F8F13175E77" xlink:type="arc" />
    <link:label id="lab_us-gaap_GainLossOnDerivativeInstrumentsNetPretax_CD2FE798D03911081C286558D83FA228_terseLabel_en-US" xlink:label="lab_us-gaap_GainLossOnDerivativeInstrumentsNetPretax_CD2FE798D03911081C286558D83FA228" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net gain/(loss) on derivatives and hedging activities</link:label>
    <link:label id="lab_us-gaap_GainLossOnDerivativeInstrumentsNetPretax_CD2FE798D03911081C286558D83FA228_label_en-US" xlink:label="lab_us-gaap_GainLossOnDerivativeInstrumentsNetPretax_CD2FE798D03911081C286558D83FA228" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (Loss) on Derivative Instruments, Net, Pretax</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GainLossOnDerivativeInstrumentsNetPretax" xlink:label="loc_us-gaap_GainLossOnDerivativeInstrumentsNetPretax_CD2FE798D03911081C286558D83FA228" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainLossOnDerivativeInstrumentsNetPretax_CD2FE798D03911081C286558D83FA228" xlink:to="lab_us-gaap_GainLossOnDerivativeInstrumentsNetPretax_CD2FE798D03911081C286558D83FA228" xlink:type="arc" />
    <link:label id="lab_us-gaap_NoninterestIncomeOtherOperatingIncome_F8D6A816973727D75457655A137FABB5_terseLabel_en-US" xlink:label="lab_us-gaap_NoninterestIncomeOtherOperatingIncome_F8D6A816973727D75457655A137FABB5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_us-gaap_NoninterestIncomeOtherOperatingIncome_F8D6A816973727D75457655A137FABB5_label_en-US" xlink:label="lab_us-gaap_NoninterestIncomeOtherOperatingIncome_F8D6A816973727D75457655A137FABB5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noninterest Income, Other Operating Income</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NoninterestIncomeOtherOperatingIncome" xlink:label="loc_us-gaap_NoninterestIncomeOtherOperatingIncome_F8D6A816973727D75457655A137FABB5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoninterestIncomeOtherOperatingIncome_F8D6A816973727D75457655A137FABB5" xlink:to="lab_us-gaap_NoninterestIncomeOtherOperatingIncome_F8D6A816973727D75457655A137FABB5" xlink:type="arc" />
    <link:label id="lab_us-gaap_NoninterestIncome_C94EB7569580A8BAAD96655B04D53B5F_totalLabel_en-US" xlink:label="lab_us-gaap_NoninterestIncome_C94EB7569580A8BAAD96655B04D53B5F" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Other Income/(Loss)</link:label>
    <link:label id="lab_us-gaap_NoninterestIncome_C94EB7569580A8BAAD96655B04D53B5F_label_en-US" xlink:label="lab_us-gaap_NoninterestIncome_C94EB7569580A8BAAD96655B04D53B5F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noninterest Income</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NoninterestIncome" xlink:label="loc_us-gaap_NoninterestIncome_C94EB7569580A8BAAD96655B04D53B5F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoninterestIncome_C94EB7569580A8BAAD96655B04D53B5F" xlink:to="lab_us-gaap_NoninterestIncome_C94EB7569580A8BAAD96655B04D53B5F" xlink:type="arc" />
    <link:label id="lab_us-gaap_NoninterestExpenseAbstract_8F7ABA46417FDC5A45F5655B5BBFF747_terseLabel_en-US" xlink:label="lab_us-gaap_NoninterestExpenseAbstract_8F7ABA46417FDC5A45F5655B5BBFF747" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Expense:</link:label>
    <link:label id="lab_us-gaap_NoninterestExpenseAbstract_8F7ABA46417FDC5A45F5655B5BBFF747_label_en-US" xlink:label="lab_us-gaap_NoninterestExpenseAbstract_8F7ABA46417FDC5A45F5655B5BBFF747" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noninterest Expense [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NoninterestExpenseAbstract" xlink:label="loc_us-gaap_NoninterestExpenseAbstract_8F7ABA46417FDC5A45F5655B5BBFF747" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoninterestExpenseAbstract_8F7ABA46417FDC5A45F5655B5BBFF747" xlink:to="lab_us-gaap_NoninterestExpenseAbstract_8F7ABA46417FDC5A45F5655B5BBFF747" xlink:type="arc" />
    <link:label id="lab_us-gaap_LaborAndRelatedExpense_81E5EE0A3E5C88DE78046574B45B635D_terseLabel_en-US" xlink:label="lab_us-gaap_LaborAndRelatedExpense_81E5EE0A3E5C88DE78046574B45B635D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation and benefits</link:label>
    <link:label id="lab_us-gaap_LaborAndRelatedExpense_81E5EE0A3E5C88DE78046574B45B635D_label_en-US" xlink:label="lab_us-gaap_LaborAndRelatedExpense_81E5EE0A3E5C88DE78046574B45B635D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Labor and Related Expense</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LaborAndRelatedExpense" xlink:label="loc_us-gaap_LaborAndRelatedExpense_81E5EE0A3E5C88DE78046574B45B635D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LaborAndRelatedExpense_81E5EE0A3E5C88DE78046574B45B635D" xlink:to="lab_us-gaap_LaborAndRelatedExpense_81E5EE0A3E5C88DE78046574B45B635D" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherCostAndExpenseOperating_5018FCE5274FB64AB49A6641CCA15291_terseLabel_en-US" xlink:label="lab_us-gaap_OtherCostAndExpenseOperating_5018FCE5274FB64AB49A6641CCA15291" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other operating expense</link:label>
    <link:label id="lab_us-gaap_OtherCostAndExpenseOperating_5018FCE5274FB64AB49A6641CCA15291_label_en-US" xlink:label="lab_us-gaap_OtherCostAndExpenseOperating_5018FCE5274FB64AB49A6641CCA15291" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Cost and Expense, Operating</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherCostAndExpenseOperating" xlink:label="loc_us-gaap_OtherCostAndExpenseOperating_5018FCE5274FB64AB49A6641CCA15291" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherCostAndExpenseOperating_5018FCE5274FB64AB49A6641CCA15291" xlink:to="lab_us-gaap_OtherCostAndExpenseOperating_5018FCE5274FB64AB49A6641CCA15291" xlink:type="arc" />
    <link:label id="lab_us-gaap_RegulatorExpensesCostAssessedOnFederalHomeLoanBank_5820FF4DEE50D8A2854D8F4E4CBA414B_terseLabel_en-US" xlink:label="lab_us-gaap_RegulatorExpensesCostAssessedOnFederalHomeLoanBank_5820FF4DEE50D8A2854D8F4E4CBA414B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Federal Housing Finance Agency</link:label>
    <link:label id="lab_us-gaap_RegulatorExpensesCostAssessedOnFederalHomeLoanBank_5820FF4DEE50D8A2854D8F4E4CBA414B_label_en-US" xlink:label="lab_us-gaap_RegulatorExpensesCostAssessedOnFederalHomeLoanBank_5820FF4DEE50D8A2854D8F4E4CBA414B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Regulator Expenses, Cost Assessed on Federal Home Loan Bank</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RegulatorExpensesCostAssessedOnFederalHomeLoanBank" xlink:label="loc_us-gaap_RegulatorExpensesCostAssessedOnFederalHomeLoanBank_5820FF4DEE50D8A2854D8F4E4CBA414B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RegulatorExpensesCostAssessedOnFederalHomeLoanBank_5820FF4DEE50D8A2854D8F4E4CBA414B" xlink:to="lab_us-gaap_RegulatorExpensesCostAssessedOnFederalHomeLoanBank_5820FF4DEE50D8A2854D8F4E4CBA414B" xlink:type="arc" />
    <link:label id="lab_us-gaap_OfficeOfFinanceAssessmentsCostAssessedOnFederalHomeLoanBank_0D5F89EF810EC44ACE27657E9D518829_terseLabel_en-US" xlink:label="lab_us-gaap_OfficeOfFinanceAssessmentsCostAssessedOnFederalHomeLoanBank_0D5F89EF810EC44ACE27657E9D518829" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Office of Finance</link:label>
    <link:label id="lab_us-gaap_OfficeOfFinanceAssessmentsCostAssessedOnFederalHomeLoanBank_0D5F89EF810EC44ACE27657E9D518829_label_en-US" xlink:label="lab_us-gaap_OfficeOfFinanceAssessmentsCostAssessedOnFederalHomeLoanBank_0D5F89EF810EC44ACE27657E9D518829" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Office of Finance, Cost Assessed on Federal Home Loan Bank</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OfficeOfFinanceAssessmentsCostAssessedOnFederalHomeLoanBank" xlink:label="loc_us-gaap_OfficeOfFinanceAssessmentsCostAssessedOnFederalHomeLoanBank_0D5F89EF810EC44ACE27657E9D518829" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OfficeOfFinanceAssessmentsCostAssessedOnFederalHomeLoanBank_0D5F89EF810EC44ACE27657E9D518829" xlink:to="lab_us-gaap_OfficeOfFinanceAssessmentsCostAssessedOnFederalHomeLoanBank_0D5F89EF810EC44ACE27657E9D518829" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherNoninterestExpense_49E8C4382DB301B3A5A6655D8B444C82_terseLabel_en-US" xlink:label="lab_us-gaap_OtherNoninterestExpense_49E8C4382DB301B3A5A6655D8B444C82" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_us-gaap_OtherNoninterestExpense_49E8C4382DB301B3A5A6655D8B444C82_label_en-US" xlink:label="lab_us-gaap_OtherNoninterestExpense_49E8C4382DB301B3A5A6655D8B444C82" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Noninterest Expense</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherNoninterestExpense" xlink:label="loc_us-gaap_OtherNoninterestExpense_49E8C4382DB301B3A5A6655D8B444C82" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherNoninterestExpense_49E8C4382DB301B3A5A6655D8B444C82" xlink:to="lab_us-gaap_OtherNoninterestExpense_49E8C4382DB301B3A5A6655D8B444C82" xlink:type="arc" />
    <link:label id="lab_us-gaap_NoninterestExpense_A205BBB4155167F5EE4F655DF06734B7_totalLabel_en-US" xlink:label="lab_us-gaap_NoninterestExpense_A205BBB4155167F5EE4F655DF06734B7" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Other Expense</link:label>
    <link:label id="lab_us-gaap_NoninterestExpense_A205BBB4155167F5EE4F655DF06734B7_label_en-US" xlink:label="lab_us-gaap_NoninterestExpense_A205BBB4155167F5EE4F655DF06734B7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noninterest Expense</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NoninterestExpense" xlink:label="loc_us-gaap_NoninterestExpense_A205BBB4155167F5EE4F655DF06734B7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoninterestExpense_A205BBB4155167F5EE4F655DF06734B7" xlink:to="lab_us-gaap_NoninterestExpense_A205BBB4155167F5EE4F655DF06734B7" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_A5A22A0B4C7D13FBFB86655E44637D48_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_A5A22A0B4C7D13FBFB86655E44637D48" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income/(Loss) Before Assessments</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_A5A22A0B4C7D13FBFB86655E44637D48_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_A5A22A0B4C7D13FBFB86655E44637D48" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_A5A22A0B4C7D13FBFB86655E44637D48" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_A5A22A0B4C7D13FBFB86655E44637D48" xlink:to="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_A5A22A0B4C7D13FBFB86655E44637D48" xlink:type="arc" />
    <link:label id="lab_us-gaap_CongressionallyMandatedFederalHomeLoanBankAssessments_D604A6B580E0024C589465807C630AE5_terseLabel_en-US" xlink:label="lab_us-gaap_CongressionallyMandatedFederalHomeLoanBankAssessments_D604A6B580E0024C589465807C630AE5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">REFCORP</link:label>
    <link:label id="lab_us-gaap_CongressionallyMandatedFederalHomeLoanBankAssessments_D604A6B580E0024C589465807C630AE5_label_en-US" xlink:label="lab_us-gaap_CongressionallyMandatedFederalHomeLoanBankAssessments_D604A6B580E0024C589465807C630AE5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Congressionally Mandated Federal Home Loan Bank Assessments</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CongressionallyMandatedFederalHomeLoanBankAssessments" xlink:label="loc_us-gaap_CongressionallyMandatedFederalHomeLoanBankAssessments_D604A6B580E0024C589465807C630AE5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CongressionallyMandatedFederalHomeLoanBankAssessments_D604A6B580E0024C589465807C630AE5" xlink:to="lab_us-gaap_CongressionallyMandatedFederalHomeLoanBankAssessments_D604A6B580E0024C589465807C630AE5" xlink:type="arc" />
    <link:label id="lab_us-gaap_AffordableHousingProgramAssessments_762B2DBEA8E2475B0E15658103A4D75C_terseLabel_en-US" xlink:label="lab_us-gaap_AffordableHousingProgramAssessments_762B2DBEA8E2475B0E15658103A4D75C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Affordable Housing Program</link:label>
    <link:label id="lab_us-gaap_AffordableHousingProgramAssessments_762B2DBEA8E2475B0E15658103A4D75C_label_en-US" xlink:label="lab_us-gaap_AffordableHousingProgramAssessments_762B2DBEA8E2475B0E15658103A4D75C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Affordable Housing Program Assessments</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AffordableHousingProgramAssessments" xlink:label="loc_us-gaap_AffordableHousingProgramAssessments_762B2DBEA8E2475B0E15658103A4D75C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AffordableHousingProgramAssessments_762B2DBEA8E2475B0E15658103A4D75C" xlink:to="lab_us-gaap_AffordableHousingProgramAssessments_762B2DBEA8E2475B0E15658103A4D75C" xlink:type="arc" />
    <link:label id="lab_us-gaap_FederalHomeLoanBankAssessments_9030250B2CE2A7D50D5E6581F614E8C4_totalLabel_en-US" xlink:label="lab_us-gaap_FederalHomeLoanBankAssessments_9030250B2CE2A7D50D5E6581F614E8C4" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Assessments</link:label>
    <link:label id="lab_us-gaap_FederalHomeLoanBankAssessments_9030250B2CE2A7D50D5E6581F614E8C4_label_en-US" xlink:label="lab_us-gaap_FederalHomeLoanBankAssessments_9030250B2CE2A7D50D5E6581F614E8C4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Federal Home Loan Bank Assessments</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FederalHomeLoanBankAssessments" xlink:label="loc_us-gaap_FederalHomeLoanBankAssessments_9030250B2CE2A7D50D5E6581F614E8C4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FederalHomeLoanBankAssessments_9030250B2CE2A7D50D5E6581F614E8C4" xlink:to="lab_us-gaap_FederalHomeLoanBankAssessments_9030250B2CE2A7D50D5E6581F614E8C4" xlink:type="arc" />
    <link:label id="lab_us-gaap_CapitalAbstract_4B2203130550994E49FD75EFFBBB7227_label_en-US" xlink:label="lab_us-gaap_CapitalAbstract_4B2203130550994E49FD75EFFBBB7227" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalAbstract" xlink:label="loc_us-gaap_CapitalAbstract_4B2203130550994E49FD75EFFBBB7227" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalAbstract_4B2203130550994E49FD75EFFBBB7227" xlink:to="lab_us-gaap_CapitalAbstract_4B2203130550994E49FD75EFFBBB7227" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_3E891982301B5B90094975F06998A3F3_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_3E891982301B5B90094975F06998A3F3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_3E891982301B5B90094975F06998A3F3_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_3E891982301B5B90094975F06998A3F3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity Note Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:label="loc_us-gaap_StockholdersEquityNoteDisclosureTextBlock_3E891982301B5B90094975F06998A3F3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityNoteDisclosureTextBlock_3E891982301B5B90094975F06998A3F3" xlink:to="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_3E891982301B5B90094975F06998A3F3" xlink:type="arc" />
    <link:label id="lab_fhlbsf_StatementOfComprehensiveIncomeAbstract_3E391D6EB51C2B01F9620E5A0B60052B_label_en-US" xlink:label="lab_fhlbsf_StatementOfComprehensiveIncomeAbstract_3E391D6EB51C2B01F9620E5A0B60052B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Comprehensive Income [Abstract]</link:label>
    <link:label id="lab_fhlbsf_StatementOfComprehensiveIncomeAbstract_3E391D6EB51C2B01F9620E5A0B60052B_documentation_en-US" xlink:label="lab_fhlbsf_StatementOfComprehensiveIncomeAbstract_3E391D6EB51C2B01F9620E5A0B60052B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Statement of Comprehensive Income [Abstract]</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_StatementOfComprehensiveIncomeAbstract" xlink:label="loc_fhlbsf_StatementOfComprehensiveIncomeAbstract_3E391D6EB51C2B01F9620E5A0B60052B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_StatementOfComprehensiveIncomeAbstract_3E391D6EB51C2B01F9620E5A0B60052B" xlink:to="lab_fhlbsf_StatementOfComprehensiveIncomeAbstract_3E391D6EB51C2B01F9620E5A0B60052B" xlink:type="arc" />
    <link:label id="lab_us-gaap_StatementEquityComponentsAxis_BBC64122854A19F504F40E841FACBA9F_terseLabel_en-US" xlink:label="lab_us-gaap_StatementEquityComponentsAxis_BBC64122854A19F504F40E841FACBA9F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement, Equity Components [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="loc_us-gaap_StatementEquityComponentsAxis_BBC64122854A19F504F40E841FACBA9F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementEquityComponentsAxis_BBC64122854A19F504F40E841FACBA9F" xlink:to="lab_us-gaap_StatementEquityComponentsAxis_BBC64122854A19F504F40E841FACBA9F" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityComponentDomain_787FB979950A1EE9608C0E841FAC7083_terseLabel_en-US" xlink:label="lab_us-gaap_EquityComponentDomain_787FB979950A1EE9608C0E841FAC7083" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Component [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaap_EquityComponentDomain_787FB979950A1EE9608C0E841FAC7083" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityComponentDomain_787FB979950A1EE9608C0E841FAC7083" xlink:to="lab_us-gaap_EquityComponentDomain_787FB979950A1EE9608C0E841FAC7083" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_5C5F80243F199DD723010E84200958D0_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_5C5F80243F199DD723010E84200958D0" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Accumulated Other Comprehensive Income/(Loss)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeMember_5C5F80243F199DD723010E84200958D0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeMember_5C5F80243F199DD723010E84200958D0" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_5C5F80243F199DD723010E84200958D0" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParentAbstract_4857B4A308D27FD22460238DFC748C5D_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParentAbstract_4857B4A308D27FD22460238DFC748C5D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income/(Loss):</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParentAbstract_4857B4A308D27FD22460238DFC748C5D_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParentAbstract_4857B4A308D27FD22460238DFC748C5D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParentAbstract" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParentAbstract_4857B4A308D27FD22460238DFC748C5D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParentAbstract_4857B4A308D27FD22460238DFC748C5D" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParentAbstract_4857B4A308D27FD22460238DFC748C5D" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentBeforeTaxPortionAttributableToParent_B358AA7DDCB2FEAF691E0E61DFDC97B6_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentBeforeTaxPortionAttributableToParent_B358AA7DDCB2FEAF691E0E61DFDC97B6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net unrealized gain/(loss) on available-for-sale securities</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentBeforeTaxPortionAttributableToParent_B358AA7DDCB2FEAF691E0E61DFDC97B6_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentBeforeTaxPortionAttributableToParent_B358AA7DDCB2FEAF691E0E61DFDC97B6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Tax, Portion Attributable to Parent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentBeforeTaxPortionAttributableToParent" xlink:label="loc_us-gaap_OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentBeforeTaxPortionAttributableToParent_B358AA7DDCB2FEAF691E0E61DFDC97B6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentBeforeTaxPortionAttributableToParent_B358AA7DDCB2FEAF691E0E61DFDC97B6" xlink:to="lab_us-gaap_OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentBeforeTaxPortionAttributableToParent_B358AA7DDCB2FEAF691E0E61DFDC97B6" xlink:type="arc" />
    <link:label id="lab_fhlbsf_NetNoncreditPortionOfOtherThanTemporaryImpairmentLossesOnAvailableForSaleSecuritiesAbstract_5AEA7A1D69B2E46F926C146FA695EBA5_terseLabel_en-US" xlink:label="lab_fhlbsf_NetNoncreditPortionOfOtherThanTemporaryImpairmentLossesOnAvailableForSaleSecuritiesAbstract_5AEA7A1D69B2E46F926C146FA695EBA5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net non-credit-related OTTI loss on available-for-sale securities:</link:label>
    <link:label id="lab_fhlbsf_NetNoncreditPortionOfOtherThanTemporaryImpairmentLossesOnAvailableForSaleSecuritiesAbstract_5AEA7A1D69B2E46F926C146FA695EBA5_label_en-US" xlink:label="lab_fhlbsf_NetNoncreditPortionOfOtherThanTemporaryImpairmentLossesOnAvailableForSaleSecuritiesAbstract_5AEA7A1D69B2E46F926C146FA695EBA5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Noncredit Portion Of Other than temporary Impairment Losses On Available for sale Securities [Abstract]</link:label>
    <link:label id="lab_fhlbsf_NetNoncreditPortionOfOtherThanTemporaryImpairmentLossesOnAvailableForSaleSecuritiesAbstract_5AEA7A1D69B2E46F926C146FA695EBA5_documentation_en-US" xlink:label="lab_fhlbsf_NetNoncreditPortionOfOtherThanTemporaryImpairmentLossesOnAvailableForSaleSecuritiesAbstract_5AEA7A1D69B2E46F926C146FA695EBA5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Before Tax Portion Attributable To Noncontrolling Interest Available for Sale Securities [Abstract]</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_NetNoncreditPortionOfOtherThanTemporaryImpairmentLossesOnAvailableForSaleSecuritiesAbstract" xlink:label="loc_fhlbsf_NetNoncreditPortionOfOtherThanTemporaryImpairmentLossesOnAvailableForSaleSecuritiesAbstract_5AEA7A1D69B2E46F926C146FA695EBA5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_NetNoncreditPortionOfOtherThanTemporaryImpairmentLossesOnAvailableForSaleSecuritiesAbstract_5AEA7A1D69B2E46F926C146FA695EBA5" xlink:to="lab_fhlbsf_NetNoncreditPortionOfOtherThanTemporaryImpairmentLossesOnAvailableForSaleSecuritiesAbstract_5AEA7A1D69B2E46F926C146FA695EBA5" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeReclassificationAdjustmentForHeldToMaturityTransferredToAvailableForSaleSecuritiesBeforeTax_CF5041BE945F8A86251D147516828049_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeReclassificationAdjustmentForHeldToMaturityTransferredToAvailableForSaleSecuritiesBeforeTax_CF5041BE945F8A86251D147516828049" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-credit-related OTTI loss transferred from held-to-maturity securities</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeReclassificationAdjustmentForHeldToMaturityTransferredToAvailableForSaleSecuritiesBeforeTax_CF5041BE945F8A86251D147516828049_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeReclassificationAdjustmentForHeldToMaturityTransferredToAvailableForSaleSecuritiesBeforeTax_CF5041BE945F8A86251D147516828049" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Reclassification Adjustment for Held-to-maturity Transferred to Available-for-Sale Securities, before Tax</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherComprehensiveIncomeReclassificationAdjustmentForHeldToMaturityTransferredToAvailableForSaleSecuritiesBeforeTax" xlink:label="loc_us-gaap_OtherComprehensiveIncomeReclassificationAdjustmentForHeldToMaturityTransferredToAvailableForSaleSecuritiesBeforeTax_CF5041BE945F8A86251D147516828049" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeReclassificationAdjustmentForHeldToMaturityTransferredToAvailableForSaleSecuritiesBeforeTax_CF5041BE945F8A86251D147516828049" xlink:to="lab_us-gaap_OtherComprehensiveIncomeReclassificationAdjustmentForHeldToMaturityTransferredToAvailableForSaleSecuritiesBeforeTax_CF5041BE945F8A86251D147516828049" xlink:type="arc" />
    <link:label id="lab_fhlbsf_OtherComprehensiveIncomeNetChangeInFairValueOfOtherThanTemporaryImpairmentSecurities_9BF6C4931AA41B122939147B66CDB0E9_terseLabel_en-US" xlink:label="lab_fhlbsf_OtherComprehensiveIncomeNetChangeInFairValueOfOtherThanTemporaryImpairmentSecurities_9BF6C4931AA41B122939147B66CDB0E9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net change in fair value of other-than-temporarily impaired securities</link:label>
    <link:label id="lab_fhlbsf_OtherComprehensiveIncomeNetChangeInFairValueOfOtherThanTemporaryImpairmentSecurities_9BF6C4931AA41B122939147B66CDB0E9_label_en-US" xlink:label="lab_fhlbsf_OtherComprehensiveIncomeNetChangeInFairValueOfOtherThanTemporaryImpairmentSecurities_9BF6C4931AA41B122939147B66CDB0E9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income Net Change in Fair Value Of Other Than Temporary Impairment Securities</link:label>
    <link:label id="lab_fhlbsf_OtherComprehensiveIncomeNetChangeInFairValueOfOtherThanTemporaryImpairmentSecurities_9BF6C4931AA41B122939147B66CDB0E9_documentation_en-US" xlink:label="lab_fhlbsf_OtherComprehensiveIncomeNetChangeInFairValueOfOtherThanTemporaryImpairmentSecurities_9BF6C4931AA41B122939147B66CDB0E9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Subsequent net fair value changes on OTTI securities classified as available-for-sale that were impaired during the period being reported on, before tax</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_OtherComprehensiveIncomeNetChangeInFairValueOfOtherThanTemporaryImpairmentSecurities" xlink:label="loc_fhlbsf_OtherComprehensiveIncomeNetChangeInFairValueOfOtherThanTemporaryImpairmentSecurities_9BF6C4931AA41B122939147B66CDB0E9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_OtherComprehensiveIncomeNetChangeInFairValueOfOtherThanTemporaryImpairmentSecurities_9BF6C4931AA41B122939147B66CDB0E9" xlink:to="lab_fhlbsf_OtherComprehensiveIncomeNetChangeInFairValueOfOtherThanTemporaryImpairmentSecurities_9BF6C4931AA41B122939147B66CDB0E9" xlink:type="arc" />
    <link:label id="lab_fhlbsf_ReclassificationAdjustmentOfNoncreditPortionOfImpairmentLossesIncludedInNetIncomeRelatingToAfsSecurities_B3F2418FCDA24CB37BAA0E841F4E59B6_terseLabel_en-US" xlink:label="lab_fhlbsf_ReclassificationAdjustmentOfNoncreditPortionOfImpairmentLossesIncludedInNetIncomeRelatingToAfsSecurities_B3F2418FCDA24CB37BAA0E841F4E59B6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reclassification of non-credit-related OTTI loss included in net income/(loss)</link:label>
    <link:label id="lab_fhlbsf_ReclassificationAdjustmentOfNoncreditPortionOfImpairmentLossesIncludedInNetIncomeRelatingToAfsSecurities_B3F2418FCDA24CB37BAA0E841F4E59B6_label_en-US" xlink:label="lab_fhlbsf_ReclassificationAdjustmentOfNoncreditPortionOfImpairmentLossesIncludedInNetIncomeRelatingToAfsSecurities_B3F2418FCDA24CB37BAA0E841F4E59B6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reclassification Adjustment of Noncredit Portion of Impairment Losses Included In Net Income Relating to AFS Securities</link:label>
    <link:label id="lab_fhlbsf_ReclassificationAdjustmentOfNoncreditPortionOfImpairmentLossesIncludedInNetIncomeRelatingToAfsSecurities_B3F2418FCDA24CB37BAA0E841F4E59B6_documentation_en-US" xlink:label="lab_fhlbsf_ReclassificationAdjustmentOfNoncreditPortionOfImpairmentLossesIncludedInNetIncomeRelatingToAfsSecurities_B3F2418FCDA24CB37BAA0E841F4E59B6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Reclassification adjustment of noncredit OTTI losses included in net income.</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_ReclassificationAdjustmentOfNoncreditPortionOfImpairmentLossesIncludedInNetIncomeRelatingToAfsSecurities" xlink:label="loc_fhlbsf_ReclassificationAdjustmentOfNoncreditPortionOfImpairmentLossesIncludedInNetIncomeRelatingToAfsSecurities_B3F2418FCDA24CB37BAA0E841F4E59B6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_ReclassificationAdjustmentOfNoncreditPortionOfImpairmentLossesIncludedInNetIncomeRelatingToAfsSecurities_B3F2418FCDA24CB37BAA0E841F4E59B6" xlink:to="lab_fhlbsf_ReclassificationAdjustmentOfNoncreditPortionOfImpairmentLossesIncludedInNetIncomeRelatingToAfsSecurities_B3F2418FCDA24CB37BAA0E841F4E59B6" xlink:type="arc" />
    <link:label id="lab_fhlbsf_OtherComprehensiveIncomeLossOtherThanTemporaryImpairmentLossesAvailableForSaleSecuritiesAdjustment_B58C164E2BAF17CB575214A411A6415C_totalLabel_en-US" xlink:label="lab_fhlbsf_OtherComprehensiveIncomeLossOtherThanTemporaryImpairmentLossesAvailableForSaleSecuritiesAdjustment_B58C164E2BAF17CB575214A411A6415C" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total net non-credit-related OTTI loss on available-for-sale securities</link:label>
    <link:label id="lab_fhlbsf_OtherComprehensiveIncomeLossOtherThanTemporaryImpairmentLossesAvailableForSaleSecuritiesAdjustment_B58C164E2BAF17CB575214A411A6415C_label_en-US" xlink:label="lab_fhlbsf_OtherComprehensiveIncomeLossOtherThanTemporaryImpairmentLossesAvailableForSaleSecuritiesAdjustment_B58C164E2BAF17CB575214A411A6415C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Other Than Temporary Impairment Losses Available-for-sale Securities Adjustment</link:label>
    <link:label id="lab_fhlbsf_OtherComprehensiveIncomeLossOtherThanTemporaryImpairmentLossesAvailableForSaleSecuritiesAdjustment_B58C164E2BAF17CB575214A411A6415C_documentation_en-US" xlink:label="lab_fhlbsf_OtherComprehensiveIncomeLossOtherThanTemporaryImpairmentLossesAvailableForSaleSecuritiesAdjustment_B58C164E2BAF17CB575214A411A6415C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of total net non-credit portion of other than temporary impairment (OTTI) related losses on debt securities categorized as Available-for-sale.</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_OtherComprehensiveIncomeLossOtherThanTemporaryImpairmentLossesAvailableForSaleSecuritiesAdjustment" xlink:label="loc_fhlbsf_OtherComprehensiveIncomeLossOtherThanTemporaryImpairmentLossesAvailableForSaleSecuritiesAdjustment_B58C164E2BAF17CB575214A411A6415C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_OtherComprehensiveIncomeLossOtherThanTemporaryImpairmentLossesAvailableForSaleSecuritiesAdjustment_B58C164E2BAF17CB575214A411A6415C" xlink:to="lab_fhlbsf_OtherComprehensiveIncomeLossOtherThanTemporaryImpairmentLossesAvailableForSaleSecuritiesAdjustment_B58C164E2BAF17CB575214A411A6415C" xlink:type="arc" />
    <link:label id="lab_fhlbsf_NetNoncreditPortionOfOtherThanTemporaryImpairmentLossesOnHeldToMaturitySecuritiesAbstract_8B96284B41137431E9671480F29E2521_terseLabel_en-US" xlink:label="lab_fhlbsf_NetNoncreditPortionOfOtherThanTemporaryImpairmentLossesOnHeldToMaturitySecuritiesAbstract_8B96284B41137431E9671480F29E2521" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net non-credit-related OTTI loss on held-to-maturity securities:</link:label>
    <link:label id="lab_fhlbsf_NetNoncreditPortionOfOtherThanTemporaryImpairmentLossesOnHeldToMaturitySecuritiesAbstract_8B96284B41137431E9671480F29E2521_label_en-US" xlink:label="lab_fhlbsf_NetNoncreditPortionOfOtherThanTemporaryImpairmentLossesOnHeldToMaturitySecuritiesAbstract_8B96284B41137431E9671480F29E2521" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net noncredit portion of other-than-temporary impairment losses on held-to-maturity securities [Abstract]</link:label>
    <link:label id="lab_fhlbsf_NetNoncreditPortionOfOtherThanTemporaryImpairmentLossesOnHeldToMaturitySecuritiesAbstract_8B96284B41137431E9671480F29E2521_documentation_en-US" xlink:label="lab_fhlbsf_NetNoncreditPortionOfOtherThanTemporaryImpairmentLossesOnHeldToMaturitySecuritiesAbstract_8B96284B41137431E9671480F29E2521" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net noncredit portion of other-than-temporary impairment losses on held-to-maturity securities [Abstract]</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_NetNoncreditPortionOfOtherThanTemporaryImpairmentLossesOnHeldToMaturitySecuritiesAbstract" xlink:label="loc_fhlbsf_NetNoncreditPortionOfOtherThanTemporaryImpairmentLossesOnHeldToMaturitySecuritiesAbstract_8B96284B41137431E9671480F29E2521" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_NetNoncreditPortionOfOtherThanTemporaryImpairmentLossesOnHeldToMaturitySecuritiesAbstract_8B96284B41137431E9671480F29E2521" xlink:to="lab_fhlbsf_NetNoncreditPortionOfOtherThanTemporaryImpairmentLossesOnHeldToMaturitySecuritiesAbstract_8B96284B41137431E9671480F29E2521" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParentHeldtomaturitySecurities_0D147E944B7CFBE792360EB9F78ACFFD_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParentHeldtomaturitySecurities_0D147E944B7CFBE792360EB9F78ACFFD" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Non-credit-related OTTI loss</link:label>
    <link:label id="lab_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParentHeldtomaturitySecurities_0D147E944B7CFBE792360EB9F78ACFFD_label_en-US" xlink:label="lab_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParentHeldtomaturitySecurities_0D147E944B7CFBE792360EB9F78ACFFD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other than Temporary Impairment Losses, Investments, Portion in Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent, Held-to-maturity Securities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParentHeldtomaturitySecurities" xlink:label="loc_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParentHeldtomaturitySecurities_0D147E944B7CFBE792360EB9F78ACFFD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParentHeldtomaturitySecurities_0D147E944B7CFBE792360EB9F78ACFFD" xlink:to="lab_us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParentHeldtomaturitySecurities_0D147E944B7CFBE792360EB9F78ACFFD" xlink:type="arc" />
    <link:label id="lab_fhlbsf_ReclassificationAdjustmentOfNoncreditPortionOfImpairmentLossesIncludedInNetIncomeRelatingToHtmSecurities_215F9C1558198936AA6C0EBADFE7B5E2_terseLabel_en-US" xlink:label="lab_fhlbsf_ReclassificationAdjustmentOfNoncreditPortionOfImpairmentLossesIncludedInNetIncomeRelatingToHtmSecurities_215F9C1558198936AA6C0EBADFE7B5E2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reclassification of non-credit-related OTTI loss included in net income/(loss)</link:label>
    <link:label id="lab_fhlbsf_ReclassificationAdjustmentOfNoncreditPortionOfImpairmentLossesIncludedInNetIncomeRelatingToHtmSecurities_215F9C1558198936AA6C0EBADFE7B5E2_label_en-US" xlink:label="lab_fhlbsf_ReclassificationAdjustmentOfNoncreditPortionOfImpairmentLossesIncludedInNetIncomeRelatingToHtmSecurities_215F9C1558198936AA6C0EBADFE7B5E2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reclassification Adjustment Of Noncredit Portion Of Impairment Losses Included In Net Income Relating To HTM Securities</link:label>
    <link:label id="lab_fhlbsf_ReclassificationAdjustmentOfNoncreditPortionOfImpairmentLossesIncludedInNetIncomeRelatingToHtmSecurities_215F9C1558198936AA6C0EBADFE7B5E2_documentation_en-US" xlink:label="lab_fhlbsf_ReclassificationAdjustmentOfNoncreditPortionOfImpairmentLossesIncludedInNetIncomeRelatingToHtmSecurities_215F9C1558198936AA6C0EBADFE7B5E2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of additional other than temporary impairment (OTTI) credit loss on a debt security, categorized as Held-to-maturity, reclassified from other comprehensive income into net income during the period on previously impaired securities</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_ReclassificationAdjustmentOfNoncreditPortionOfImpairmentLossesIncludedInNetIncomeRelatingToHtmSecurities" xlink:label="loc_fhlbsf_ReclassificationAdjustmentOfNoncreditPortionOfImpairmentLossesIncludedInNetIncomeRelatingToHtmSecurities_215F9C1558198936AA6C0EBADFE7B5E2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_ReclassificationAdjustmentOfNoncreditPortionOfImpairmentLossesIncludedInNetIncomeRelatingToHtmSecurities_215F9C1558198936AA6C0EBADFE7B5E2" xlink:to="lab_fhlbsf_ReclassificationAdjustmentOfNoncreditPortionOfImpairmentLossesIncludedInNetIncomeRelatingToHtmSecurities_215F9C1558198936AA6C0EBADFE7B5E2" xlink:type="arc" />
    <link:label id="lab_fhlbsf_AccretionOfNoncreditPortionOfImpairmentLossesOnHtmSecurities_6C9F493AB30E5907FA060EBB56BDB7C8_terseLabel_en-US" xlink:label="lab_fhlbsf_AccretionOfNoncreditPortionOfImpairmentLossesOnHtmSecurities_6C9F493AB30E5907FA060EBB56BDB7C8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accretion of non-credit-related OTTI loss</link:label>
    <link:label id="lab_fhlbsf_AccretionOfNoncreditPortionOfImpairmentLossesOnHtmSecurities_6C9F493AB30E5907FA060EBB56BDB7C8_label_en-US" xlink:label="lab_fhlbsf_AccretionOfNoncreditPortionOfImpairmentLossesOnHtmSecurities_6C9F493AB30E5907FA060EBB56BDB7C8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accretion Of Noncredit Portion Of Impairment Losses On HTM Securities</link:label>
    <link:label id="lab_fhlbsf_AccretionOfNoncreditPortionOfImpairmentLossesOnHtmSecurities_6C9F493AB30E5907FA060EBB56BDB7C8_documentation_en-US" xlink:label="lab_fhlbsf_AccretionOfNoncreditPortionOfImpairmentLossesOnHtmSecurities_6C9F493AB30E5907FA060EBB56BDB7C8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of other than temporary impairment (OTTI) loss on a debt security, categorized as Held-to-maturity, recognized in other comprehensive income that was accreted during the period.</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_AccretionOfNoncreditPortionOfImpairmentLossesOnHtmSecurities" xlink:label="loc_fhlbsf_AccretionOfNoncreditPortionOfImpairmentLossesOnHtmSecurities_6C9F493AB30E5907FA060EBB56BDB7C8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_AccretionOfNoncreditPortionOfImpairmentLossesOnHtmSecurities_6C9F493AB30E5907FA060EBB56BDB7C8" xlink:to="lab_fhlbsf_AccretionOfNoncreditPortionOfImpairmentLossesOnHtmSecurities_6C9F493AB30E5907FA060EBB56BDB7C8" xlink:type="arc" />
    <link:label id="lab_fhlbsf_ReclassificationOfNoncreditPortionOfOtherThanTemporaryImpairmentLossesFromHtmSecuritiesToAfsSecurities_83458643627CDA3C8BDA0EBC3E409DA8_negatedTerseLabel_en-US" xlink:label="lab_fhlbsf_ReclassificationOfNoncreditPortionOfOtherThanTemporaryImpairmentLossesFromHtmSecuritiesToAfsSecurities_83458643627CDA3C8BDA0EBC3E409DA8" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Non-credit-related OTTI loss transferred to available-for-sale securities</link:label>
    <link:label id="lab_fhlbsf_ReclassificationOfNoncreditPortionOfOtherThanTemporaryImpairmentLossesFromHtmSecuritiesToAfsSecurities_83458643627CDA3C8BDA0EBC3E409DA8_label_en-US" xlink:label="lab_fhlbsf_ReclassificationOfNoncreditPortionOfOtherThanTemporaryImpairmentLossesFromHtmSecuritiesToAfsSecurities_83458643627CDA3C8BDA0EBC3E409DA8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reclassification Of Noncredit Portion Of Other than temporary Impairment Losses From HTM Securities To AFS Securities</link:label>
    <link:label id="lab_fhlbsf_ReclassificationOfNoncreditPortionOfOtherThanTemporaryImpairmentLossesFromHtmSecuritiesToAfsSecurities_83458643627CDA3C8BDA0EBC3E409DA8_documentation_en-US" xlink:label="lab_fhlbsf_ReclassificationOfNoncreditPortionOfOtherThanTemporaryImpairmentLossesFromHtmSecuritiesToAfsSecurities_83458643627CDA3C8BDA0EBC3E409DA8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of Noncredit OTTI losses related to securities transferred from HTM to AFS.</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_ReclassificationOfNoncreditPortionOfOtherThanTemporaryImpairmentLossesFromHtmSecuritiesToAfsSecurities" xlink:label="loc_fhlbsf_ReclassificationOfNoncreditPortionOfOtherThanTemporaryImpairmentLossesFromHtmSecuritiesToAfsSecurities_83458643627CDA3C8BDA0EBC3E409DA8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_ReclassificationOfNoncreditPortionOfOtherThanTemporaryImpairmentLossesFromHtmSecuritiesToAfsSecurities_83458643627CDA3C8BDA0EBC3E409DA8" xlink:to="lab_fhlbsf_ReclassificationOfNoncreditPortionOfOtherThanTemporaryImpairmentLossesFromHtmSecuritiesToAfsSecurities_83458643627CDA3C8BDA0EBC3E409DA8" xlink:type="arc" />
    <link:label id="lab_fhlbsf_OtherComprehensiveIncomeLossOtherThanTemporaryImpairmentLossesHtmSecuritiesAdjustment_50C869A04776FD126F4314BCC934D96F_totalLabel_en-US" xlink:label="lab_fhlbsf_OtherComprehensiveIncomeLossOtherThanTemporaryImpairmentLossesHtmSecuritiesAdjustment_50C869A04776FD126F4314BCC934D96F" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total net non-credit-related OTTI loss on held-to-maturity securities</link:label>
    <link:label id="lab_fhlbsf_OtherComprehensiveIncomeLossOtherThanTemporaryImpairmentLossesHtmSecuritiesAdjustment_50C869A04776FD126F4314BCC934D96F_label_en-US" xlink:label="lab_fhlbsf_OtherComprehensiveIncomeLossOtherThanTemporaryImpairmentLossesHtmSecuritiesAdjustment_50C869A04776FD126F4314BCC934D96F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Other Than Temporary Impairment Losses HTM Securities Adjustment</link:label>
    <link:label id="lab_fhlbsf_OtherComprehensiveIncomeLossOtherThanTemporaryImpairmentLossesHtmSecuritiesAdjustment_50C869A04776FD126F4314BCC934D96F_documentation_en-US" xlink:label="lab_fhlbsf_OtherComprehensiveIncomeLossOtherThanTemporaryImpairmentLossesHtmSecuritiesAdjustment_50C869A04776FD126F4314BCC934D96F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of total net non-credit portion of other than temporary impairment (OTTI) related losses on debt securities categorized as Held-to-maturity.</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_OtherComprehensiveIncomeLossOtherThanTemporaryImpairmentLossesHtmSecuritiesAdjustment" xlink:label="loc_fhlbsf_OtherComprehensiveIncomeLossOtherThanTemporaryImpairmentLossesHtmSecuritiesAdjustment_50C869A04776FD126F4314BCC934D96F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_OtherComprehensiveIncomeLossOtherThanTemporaryImpairmentLossesHtmSecuritiesAdjustment_50C869A04776FD126F4314BCC934D96F" xlink:to="lab_fhlbsf_OtherComprehensiveIncomeLossOtherThanTemporaryImpairmentLossesHtmSecuritiesAdjustment_50C869A04776FD126F4314BCC934D96F" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent_4A77501320A81A7CD90A0EBE56731436_totalLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent_4A77501320A81A7CD90A0EBE56731436" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total other comprehensive income/(loss)</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent_4A77501320A81A7CD90A0EBE56731436_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent_4A77501320A81A7CD90A0EBE56731436" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent_4A77501320A81A7CD90A0EBE56731436" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent_4A77501320A81A7CD90A0EBE56731436" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent_4A77501320A81A7CD90A0EBE56731436" xlink:type="arc" />
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTax_89F65520DCF5D9110DC80EBDFC3DE6FD_totalLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTax_89F65520DCF5D9110DC80EBDFC3DE6FD" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Comprehensive Income/(Loss)</link:label>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTax_89F65520DCF5D9110DC80EBDFC3DE6FD_label_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTax_89F65520DCF5D9110DC80EBDFC3DE6FD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive Income (Loss), Net of Tax, Attributable to Parent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTax_89F65520DCF5D9110DC80EBDFC3DE6FD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_89F65520DCF5D9110DC80EBDFC3DE6FD" xlink:to="lab_us-gaap_ComprehensiveIncomeNetOfTax_89F65520DCF5D9110DC80EBDFC3DE6FD" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_2013CFF90D7A1DC2E9AF75F639C39BAD_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_2013CFF90D7A1DC2E9AF75F639C39BAD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_2013CFF90D7A1DC2E9AF75F639C39BAD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_2013CFF90D7A1DC2E9AF75F639C39BAD" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_2013CFF90D7A1DC2E9AF75F639C39BAD" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_83699C5FC238FCB0807875F678B14421_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_83699C5FC238FCB0807875F678B14421" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_83699C5FC238FCB0807875F678B14421_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_83699C5FC238FCB0807875F678B14421" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_83699C5FC238FCB0807875F678B14421" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_83699C5FC238FCB0807875F678B14421" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_83699C5FC238FCB0807875F678B14421" xlink:type="arc" />
    <link:label id="lab_us-gaap_RelatedPartyTransactionsAbstract_3E6B752C4EA6823E0BD6760110AFB14A_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsAbstract_3E6B752C4EA6823E0BD6760110AFB14A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transactions [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RelatedPartyTransactionsAbstract" xlink:label="loc_us-gaap_RelatedPartyTransactionsAbstract_3E6B752C4EA6823E0BD6760110AFB14A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsAbstract_3E6B752C4EA6823E0BD6760110AFB14A" xlink:to="lab_us-gaap_RelatedPartyTransactionsAbstract_3E6B752C4EA6823E0BD6760110AFB14A" xlink:type="arc" />
    <link:label id="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_0A2C834CF002EBF6CB217602BBEE5498_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_0A2C834CF002EBF6CB217602BBEE5498" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transactions with Certain Members, Certain Nonmembers, and Other FHLBanks</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_0A2C834CF002EBF6CB217602BBEE5498_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_0A2C834CF002EBF6CB217602BBEE5498" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transactions Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:label="loc_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_0A2C834CF002EBF6CB217602BBEE5498" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_0A2C834CF002EBF6CB217602BBEE5498" xlink:to="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_0A2C834CF002EBF6CB217602BBEE5498" xlink:type="arc" />
    <link:label id="lab_us-gaap_TradingSecuritiesAbstract_0BBAFB3584CE1AFBBE4775E17F073F9C_label_en-US" xlink:label="lab_us-gaap_TradingSecuritiesAbstract_0BBAFB3584CE1AFBBE4775E17F073F9C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Securities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TradingSecuritiesAbstract" xlink:label="loc_us-gaap_TradingSecuritiesAbstract_0BBAFB3584CE1AFBBE4775E17F073F9C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TradingSecuritiesAbstract_0BBAFB3584CE1AFBBE4775E17F073F9C" xlink:to="lab_us-gaap_TradingSecuritiesAbstract_0BBAFB3584CE1AFBBE4775E17F073F9C" xlink:type="arc" />
    <link:label id="lab_fhlbsf_TradingSecuritiesAndCertainTradingAssetsDisclosureTextBlock_B62451C620ED86EC0E4E75E2D716B099_terseLabel_en-US" xlink:label="lab_fhlbsf_TradingSecuritiesAndCertainTradingAssetsDisclosureTextBlock_B62451C620ED86EC0E4E75E2D716B099" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trading Securities</link:label>
    <link:label id="lab_fhlbsf_TradingSecuritiesAndCertainTradingAssetsDisclosureTextBlock_B62451C620ED86EC0E4E75E2D716B099_label_en-US" xlink:label="lab_fhlbsf_TradingSecuritiesAndCertainTradingAssetsDisclosureTextBlock_B62451C620ED86EC0E4E75E2D716B099" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Securities And Certain Trading Assets Disclosure [Text Block]</link:label>
    <link:label id="lab_fhlbsf_TradingSecuritiesAndCertainTradingAssetsDisclosureTextBlock_B62451C620ED86EC0E4E75E2D716B099_documentation_en-US" xlink:label="lab_fhlbsf_TradingSecuritiesAndCertainTradingAssetsDisclosureTextBlock_B62451C620ED86EC0E4E75E2D716B099" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This item represents the entire disclosure related to trading securities (and certain trading assets) which consist of all investments in certain debt and equity securities (and other assets) that are bought and held principally for the purpose of selling them in the near term (thus held for only a short period of time) or for which an entity has elected the fair value option. Trading generally reflects active and frequent buying and selling, and trading securities are generally used with the objective of generating profits on short-term differences in price, but this category of investments may also include items which are not intended to be sold in the near term or for which the fair value option has been elected.</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_TradingSecuritiesAndCertainTradingAssetsDisclosureTextBlock" xlink:label="loc_fhlbsf_TradingSecuritiesAndCertainTradingAssetsDisclosureTextBlock_B62451C620ED86EC0E4E75E2D716B099" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_TradingSecuritiesAndCertainTradingAssetsDisclosureTextBlock_B62451C620ED86EC0E4E75E2D716B099" xlink:to="lab_fhlbsf_TradingSecuritiesAndCertainTradingAssetsDisclosureTextBlock_B62451C620ED86EC0E4E75E2D716B099" xlink:type="arc" />
    <link:label id="lab_us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract_A539F1859895E6F09DAC75DFE2EA2160_label_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract_A539F1859895E6F09DAC75DFE2EA2160" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">New Accounting Pronouncements and Changes in Accounting Principles [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract" xlink:label="loc_us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract_A539F1859895E6F09DAC75DFE2EA2160" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract_A539F1859895E6F09DAC75DFE2EA2160" xlink:to="lab_us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract_A539F1859895E6F09DAC75DFE2EA2160" xlink:type="arc" />
    <link:label id="lab_us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted_07CC907E991AF32D96EA75E04994420A_terseLabel_en-US" xlink:label="lab_us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted_07CC907E991AF32D96EA75E04994420A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recently Issued and Adopted Accounting Guidance</link:label>
    <link:label id="lab_us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted_07CC907E991AF32D96EA75E04994420A_label_en-US" xlink:label="lab_us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted_07CC907E991AF32D96EA75E04994420A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of New Accounting Pronouncements Not yet Adopted [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted" xlink:label="loc_us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted_07CC907E991AF32D96EA75E04994420A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted_07CC907E991AF32D96EA75E04994420A" xlink:to="lab_us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted_07CC907E991AF32D96EA75E04994420A" xlink:type="arc" />
    <link:label id="lab_fhlbsf_AvailableForSaleSecuritiesDisclosureTextBlock_985F9C533F3BD8D3582375E4B183856B_terseLabel_en-US" xlink:label="lab_fhlbsf_AvailableForSaleSecuritiesDisclosureTextBlock_985F9C533F3BD8D3582375E4B183856B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Available-for-Sale Securities</link:label>
    <link:label id="lab_fhlbsf_AvailableForSaleSecuritiesDisclosureTextBlock_985F9C533F3BD8D3582375E4B183856B_label_en-US" xlink:label="lab_fhlbsf_AvailableForSaleSecuritiesDisclosureTextBlock_985F9C533F3BD8D3582375E4B183856B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Available For Sale Securities Disclosure [Text Block]</link:label>
    <link:label id="lab_fhlbsf_AvailableForSaleSecuritiesDisclosureTextBlock_985F9C533F3BD8D3582375E4B183856B_documentation_en-US" xlink:label="lab_fhlbsf_AvailableForSaleSecuritiesDisclosureTextBlock_985F9C533F3BD8D3582375E4B183856B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This item represents the entire disclosure related to available-for-sale securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt.</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_AvailableForSaleSecuritiesDisclosureTextBlock" xlink:label="loc_fhlbsf_AvailableForSaleSecuritiesDisclosureTextBlock_985F9C533F3BD8D3582375E4B183856B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_AvailableForSaleSecuritiesDisclosureTextBlock_985F9C533F3BD8D3582375E4B183856B" xlink:to="lab_fhlbsf_AvailableForSaleSecuritiesDisclosureTextBlock_985F9C533F3BD8D3582375E4B183856B" xlink:type="arc" />
    <link:label id="lab_us-gaap_HeldToMaturitySecuritiesUnclassifiedAbstract_355728F5EBCCF27C2B1D75EA312DA30E_label_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesUnclassifiedAbstract_355728F5EBCCF27C2B1D75EA312DA30E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Held-to-maturity Securities, Unclassified [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_HeldToMaturitySecuritiesUnclassifiedAbstract" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesUnclassifiedAbstract_355728F5EBCCF27C2B1D75EA312DA30E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HeldToMaturitySecuritiesUnclassifiedAbstract_355728F5EBCCF27C2B1D75EA312DA30E" xlink:to="lab_us-gaap_HeldToMaturitySecuritiesUnclassifiedAbstract_355728F5EBCCF27C2B1D75EA312DA30E" xlink:type="arc" />
    <link:label id="lab_fhlbsf_HeldToMaturitySecuritiesDisclosureTextBlock_F7A97BA978457E5BB90075EA7B36D76F_terseLabel_en-US" xlink:label="lab_fhlbsf_HeldToMaturitySecuritiesDisclosureTextBlock_F7A97BA978457E5BB90075EA7B36D76F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Held-to-Maturity Securities</link:label>
    <link:label id="lab_fhlbsf_HeldToMaturitySecuritiesDisclosureTextBlock_F7A97BA978457E5BB90075EA7B36D76F_label_en-US" xlink:label="lab_fhlbsf_HeldToMaturitySecuritiesDisclosureTextBlock_F7A97BA978457E5BB90075EA7B36D76F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Held To Maturity Securities Disclosure [Text Block]</link:label>
    <link:label id="lab_fhlbsf_HeldToMaturitySecuritiesDisclosureTextBlock_F7A97BA978457E5BB90075EA7B36D76F_documentation_en-US" xlink:label="lab_fhlbsf_HeldToMaturitySecuritiesDisclosureTextBlock_F7A97BA978457E5BB90075EA7B36D76F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This item represents the entire disclosure related to all investments in certain debt and equity securities for which the entity has the positive intent and ability to hold until maturity.</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_HeldToMaturitySecuritiesDisclosureTextBlock" xlink:label="loc_fhlbsf_HeldToMaturitySecuritiesDisclosureTextBlock_F7A97BA978457E5BB90075EA7B36D76F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_HeldToMaturitySecuritiesDisclosureTextBlock_F7A97BA978457E5BB90075EA7B36D76F" xlink:to="lab_fhlbsf_HeldToMaturitySecuritiesDisclosureTextBlock_F7A97BA978457E5BB90075EA7B36D76F" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccountingPoliciesAbstract_5A726A1B47368B8BF690B867140A0B63_label_en-US" xlink:label="lab_us-gaap_AccountingPoliciesAbstract_5A726A1B47368B8BF690B867140A0B63" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounting Policies [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="loc_us-gaap_AccountingPoliciesAbstract_5A726A1B47368B8BF690B867140A0B63" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_5A726A1B47368B8BF690B867140A0B63" xlink:to="lab_us-gaap_AccountingPoliciesAbstract_5A726A1B47368B8BF690B867140A0B63" xlink:type="arc" />
    <link:label id="lab_us-gaap_SignificantAccountingPoliciesTextBlock_8103CFC67A9AD011F3DA19C1F6F86CD4_terseLabel_en-US" xlink:label="lab_us-gaap_SignificantAccountingPoliciesTextBlock_8103CFC67A9AD011F3DA19C1F6F86CD4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Significant Accounting Policies</link:label>
    <link:label id="lab_us-gaap_SignificantAccountingPoliciesTextBlock_8103CFC67A9AD011F3DA19C1F6F86CD4_label_en-US" xlink:label="lab_us-gaap_SignificantAccountingPoliciesTextBlock_8103CFC67A9AD011F3DA19C1F6F86CD4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Significant Accounting Policies [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SignificantAccountingPoliciesTextBlock" xlink:label="loc_us-gaap_SignificantAccountingPoliciesTextBlock_8103CFC67A9AD011F3DA19C1F6F86CD4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SignificantAccountingPoliciesTextBlock_8103CFC67A9AD011F3DA19C1F6F86CD4" xlink:to="lab_us-gaap_SignificantAccountingPoliciesTextBlock_8103CFC67A9AD011F3DA19C1F6F86CD4" xlink:type="arc" />
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstateAbstract_5728D487C9A7658E324275EBEE0134A0_label_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateAbstract_5728D487C9A7658E324275EBEE0134A0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage Loans on Real Estate [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MortgageLoansOnRealEstateAbstract" xlink:label="loc_us-gaap_MortgageLoansOnRealEstateAbstract_5728D487C9A7658E324275EBEE0134A0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MortgageLoansOnRealEstateAbstract_5728D487C9A7658E324275EBEE0134A0" xlink:to="lab_us-gaap_MortgageLoansOnRealEstateAbstract_5728D487C9A7658E324275EBEE0134A0" xlink:type="arc" />
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstateByLoanDisclosureTextBlock_CEB4CBD8D5B41EF617ED7AFF48751C86_terseLabel_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateByLoanDisclosureTextBlock_CEB4CBD8D5B41EF617ED7AFF48751C86" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgage Loans Held for Portfolio</link:label>
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstateByLoanDisclosureTextBlock_CEB4CBD8D5B41EF617ED7AFF48751C86_label_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateByLoanDisclosureTextBlock_CEB4CBD8D5B41EF617ED7AFF48751C86" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage Loans on Real Estate, by Loan Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MortgageLoansOnRealEstateByLoanDisclosureTextBlock" xlink:label="loc_us-gaap_MortgageLoansOnRealEstateByLoanDisclosureTextBlock_CEB4CBD8D5B41EF617ED7AFF48751C86" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MortgageLoansOnRealEstateByLoanDisclosureTextBlock_CEB4CBD8D5B41EF617ED7AFF48751C86" xlink:to="lab_us-gaap_MortgageLoansOnRealEstateByLoanDisclosureTextBlock_CEB4CBD8D5B41EF617ED7AFF48751C86" xlink:type="arc" />
    <link:label id="lab_fhlbsf_AdvancesAbstract_31576F656A8517BA63537605208C848C_label_en-US" xlink:label="lab_fhlbsf_AdvancesAbstract_31576F656A8517BA63537605208C848C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Advances [Abstract]</link:label>
    <link:label id="lab_fhlbsf_AdvancesAbstract_31576F656A8517BA63537605208C848C_documentation_en-US" xlink:label="lab_fhlbsf_AdvancesAbstract_31576F656A8517BA63537605208C848C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Advances [Abstract]</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_AdvancesAbstract" xlink:label="loc_fhlbsf_AdvancesAbstract_31576F656A8517BA63537605208C848C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_AdvancesAbstract_31576F656A8517BA63537605208C848C" xlink:to="lab_fhlbsf_AdvancesAbstract_31576F656A8517BA63537605208C848C" xlink:type="arc" />
    <link:label id="lab_fhlbsf_AdvancesTextBlock_321D3B5C8A76B994F4AF7605E061C122_terseLabel_en-US" xlink:label="lab_fhlbsf_AdvancesTextBlock_321D3B5C8A76B994F4AF7605E061C122" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Advances</link:label>
    <link:label id="lab_fhlbsf_AdvancesTextBlock_321D3B5C8A76B994F4AF7605E061C122_label_en-US" xlink:label="lab_fhlbsf_AdvancesTextBlock_321D3B5C8A76B994F4AF7605E061C122" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Advances [Text Block]</link:label>
    <link:label id="lab_fhlbsf_AdvancesTextBlock_321D3B5C8A76B994F4AF7605E061C122_documentation_en-US" xlink:label="lab_fhlbsf_AdvancesTextBlock_321D3B5C8A76B994F4AF7605E061C122" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This item represents the entire disclosure related to all Federal Home Loan Bank loans (advances).</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_AdvancesTextBlock" xlink:label="loc_fhlbsf_AdvancesTextBlock_321D3B5C8A76B994F4AF7605E061C122" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_AdvancesTextBlock_321D3B5C8A76B994F4AF7605E061C122" xlink:to="lab_fhlbsf_AdvancesTextBlock_321D3B5C8A76B994F4AF7605E061C122" xlink:type="arc" />
    <link:label id="lab_us-gaap_StatementOfStockholdersEquityAbstract_2AF36C646DC1B4C301FC7A28142C5F33_label_en-US" xlink:label="lab_us-gaap_StatementOfStockholdersEquityAbstract_2AF36C646DC1B4C301FC7A28142C5F33" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Stockholders' Equity [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="loc_us-gaap_StatementOfStockholdersEquityAbstract_2AF36C646DC1B4C301FC7A28142C5F33" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfStockholdersEquityAbstract_2AF36C646DC1B4C301FC7A28142C5F33" xlink:to="lab_us-gaap_StatementOfStockholdersEquityAbstract_2AF36C646DC1B4C301FC7A28142C5F33" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommonStockMember_7ADEF86E215CDC10E53A7A281B50AD7C_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockMember_7ADEF86E215CDC10E53A7A281B50AD7C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital Stock [Member]</link:label>
    <link:label id="lab_us-gaap_CommonStockMember_7ADEF86E215CDC10E53A7A281B50AD7C_label_en-US" xlink:label="lab_us-gaap_CommonStockMember_7ADEF86E215CDC10E53A7A281B50AD7C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockMember" xlink:label="loc_us-gaap_CommonStockMember_7ADEF86E215CDC10E53A7A281B50AD7C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockMember_7ADEF86E215CDC10E53A7A281B50AD7C" xlink:to="lab_us-gaap_CommonStockMember_7ADEF86E215CDC10E53A7A281B50AD7C" xlink:type="arc" />
    <link:label id="lab_us-gaap_RetainedEarningsMember_CD474F5BDDAFCE918CF17A281B501C12_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember_CD474F5BDDAFCE918CF17A281B501C12" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total Retained Earnings [Member]</link:label>
    <link:label id="lab_us-gaap_RetainedEarningsMember_CD474F5BDDAFCE918CF17A281B501C12_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember_CD474F5BDDAFCE918CF17A281B501C12" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="loc_us-gaap_RetainedEarningsMember_CD474F5BDDAFCE918CF17A281B501C12" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsMember_CD474F5BDDAFCE918CF17A281B501C12" xlink:to="lab_us-gaap_RetainedEarningsMember_CD474F5BDDAFCE918CF17A281B501C12" xlink:type="arc" />
    <link:label id="lab_us-gaap_RetainedEarningsAppropriatedMember_719428808B1B4001DB1F7A281B50CBDD_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsAppropriatedMember_719428808B1B4001DB1F7A281B50CBDD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Retained Earnings, Restricted [Member]</link:label>
    <link:label id="lab_us-gaap_RetainedEarningsAppropriatedMember_719428808B1B4001DB1F7A281B50CBDD_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsAppropriatedMember_719428808B1B4001DB1F7A281B50CBDD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings, Appropriated [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsAppropriatedMember" xlink:label="loc_us-gaap_RetainedEarningsAppropriatedMember_719428808B1B4001DB1F7A281B50CBDD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsAppropriatedMember_719428808B1B4001DB1F7A281B50CBDD" xlink:to="lab_us-gaap_RetainedEarningsAppropriatedMember_719428808B1B4001DB1F7A281B50CBDD" xlink:type="arc" />
    <link:label id="lab_us-gaap_RetainedEarningsUnappropriatedMember_DFFDB55029907374EA2A7A281B50B36F_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsUnappropriatedMember_DFFDB55029907374EA2A7A281B50B36F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Retained Earnings, Unrestricted [Member]</link:label>
    <link:label id="lab_us-gaap_RetainedEarningsUnappropriatedMember_DFFDB55029907374EA2A7A281B50B36F_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsUnappropriatedMember_DFFDB55029907374EA2A7A281B50B36F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings, Unappropriated [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsUnappropriatedMember" xlink:label="loc_us-gaap_RetainedEarningsUnappropriatedMember_DFFDB55029907374EA2A7A281B50B36F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsUnappropriatedMember_DFFDB55029907374EA2A7A281B50B36F" xlink:to="lab_us-gaap_RetainedEarningsUnappropriatedMember_DFFDB55029907374EA2A7A281B50B36F" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_7EA72214E3F9442A70D37A281B503855_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_7EA72214E3F9442A70D37A281B503855" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated Other Comprehensive Income/(Loss) [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeMember_7EA72214E3F9442A70D37A281B503855" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeMember_7EA72214E3F9442A70D37A281B503855" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_7EA72214E3F9442A70D37A281B503855" xlink:type="arc" />
    <link:label id="lab_us-gaap_ComprehensiveIncomeMember_A9A74CE7BE2989B95C5D7A281B508786_terseLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeMember_A9A74CE7BE2989B95C5D7A281B508786" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Comprehensive Income [Member]</link:label>
    <link:label id="lab_us-gaap_ComprehensiveIncomeMember_A9A74CE7BE2989B95C5D7A281B508786_label_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeMember_A9A74CE7BE2989B95C5D7A281B508786" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive Income [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ComprehensiveIncomeMember" xlink:label="loc_us-gaap_ComprehensiveIncomeMember_A9A74CE7BE2989B95C5D7A281B508786" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComprehensiveIncomeMember_A9A74CE7BE2989B95C5D7A281B508786" xlink:to="lab_us-gaap_ComprehensiveIncomeMember_A9A74CE7BE2989B95C5D7A281B508786" xlink:type="arc" />
    <link:label id="lab_us-gaap_SharesIssued_B5C27F4EF346013A03E57A3DE9F4037C_periodStartLabel_en-US" xlink:label="lab_us-gaap_SharesIssued_B5C27F4EF346013A03E57A3DE9F4037C" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance, Shares</link:label>
    <link:label id="lab_us-gaap_SharesIssued_B5C27F4EF346013A03E57A3DE9F4037C_label_en-US" xlink:label="lab_us-gaap_SharesIssued_B5C27F4EF346013A03E57A3DE9F4037C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shares, Issued</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SharesIssued" xlink:label="loc_us-gaap_SharesIssued_B5C27F4EF346013A03E57A3DE9F4037C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SharesIssued_B5C27F4EF346013A03E57A3DE9F4037C" xlink:to="lab_us-gaap_SharesIssued_B5C27F4EF346013A03E57A3DE9F4037C" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockholdersEquity_80AA0A8687A960DFC9177FBAB71700DB_periodStartLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquity_80AA0A8687A960DFC9177FBAB71700DB" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="loc_us-gaap_StockholdersEquity_80AA0A8687A960DFC9177FBAB71700DB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquity_80AA0A8687A960DFC9177FBAB71700DB" xlink:to="lab_us-gaap_StockholdersEquity_80AA0A8687A960DFC9177FBAB71700DB" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_6EB777DF70F018325D787EEF99ECA37A_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_6EB777DF70F018325D787EEF99ECA37A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issuance of capital stock, shares</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_6EB777DF70F018325D787EEF99ECA37A_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_6EB777DF70F018325D787EEF99ECA37A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Shares, New Issues</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesNewIssues_6EB777DF70F018325D787EEF99ECA37A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesNewIssues_6EB777DF70F018325D787EEF99ECA37A" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_6EB777DF70F018325D787EEF99ECA37A" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_DDBC342A03B1C7EFB1ED7EEE4047B081_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_DDBC342A03B1C7EFB1ED7EEE4047B081" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issuance of capital stock, value</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_DDBC342A03B1C7EFB1ED7EEE4047B081_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_DDBC342A03B1C7EFB1ED7EEE4047B081" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Value, New Issues</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueNewIssues_DDBC342A03B1C7EFB1ED7EEE4047B081" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodValueNewIssues_DDBC342A03B1C7EFB1ED7EEE4047B081" xlink:to="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_DDBC342A03B1C7EFB1ED7EEE4047B081" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodShares_8E1D9892FECB22D44DB67EF7021DB19F_terseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodShares_8E1D9892FECB22D44DB67EF7021DB19F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchase/redemption of capital stock, shares</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodShares_8E1D9892FECB22D44DB67EF7021DB19F_label_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodShares_8E1D9892FECB22D44DB67EF7021DB19F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Repurchased During Period, Shares</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockRepurchasedDuringPeriodShares" xlink:label="loc_us-gaap_StockRepurchasedDuringPeriodShares_8E1D9892FECB22D44DB67EF7021DB19F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRepurchasedDuringPeriodShares_8E1D9892FECB22D44DB67EF7021DB19F" xlink:to="lab_us-gaap_StockRepurchasedDuringPeriodShares_8E1D9892FECB22D44DB67EF7021DB19F" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodValue_C06504E7B5672FAF776F7EF7F3EFA135_terseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodValue_C06504E7B5672FAF776F7EF7F3EFA135" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchase/redemption of capital stock, value</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodValue_C06504E7B5672FAF776F7EF7F3EFA135_label_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodValue_C06504E7B5672FAF776F7EF7F3EFA135" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Repurchased During Period, Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockRepurchasedDuringPeriodValue" xlink:label="loc_us-gaap_StockRepurchasedDuringPeriodValue_C06504E7B5672FAF776F7EF7F3EFA135" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRepurchasedDuringPeriodValue_C06504E7B5672FAF776F7EF7F3EFA135" xlink:to="lab_us-gaap_StockRepurchasedDuringPeriodValue_C06504E7B5672FAF776F7EF7F3EFA135" xlink:type="arc" />
    <link:label id="lab_fhlbsf_NetSharesReclassifiedToMandatorilyRedeemableCapitalStockShares_E05C2F813F2089A629B57F076BFB6C52_terseLabel_en-US" xlink:label="lab_fhlbsf_NetSharesReclassifiedToMandatorilyRedeemableCapitalStockShares_E05C2F813F2089A629B57F076BFB6C52" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital stock reclassified from/(to) mandatorily redeemable capital stock, net, shares</link:label>
    <link:label id="lab_fhlbsf_NetSharesReclassifiedToMandatorilyRedeemableCapitalStockShares_E05C2F813F2089A629B57F076BFB6C52_label_en-US" xlink:label="lab_fhlbsf_NetSharesReclassifiedToMandatorilyRedeemableCapitalStockShares_E05C2F813F2089A629B57F076BFB6C52" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Shares Reclassified To Mandatorily Redeemable Capital Stock Shares</link:label>
    <link:label id="lab_fhlbsf_NetSharesReclassifiedToMandatorilyRedeemableCapitalStockShares_E05C2F813F2089A629B57F076BFB6C52_documentation_en-US" xlink:label="lab_fhlbsf_NetSharesReclassifiedToMandatorilyRedeemableCapitalStockShares_E05C2F813F2089A629B57F076BFB6C52" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The net number of shares reclassified to mandatorily redeemable capital stock during the period.</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_NetSharesReclassifiedToMandatorilyRedeemableCapitalStockShares" xlink:label="loc_fhlbsf_NetSharesReclassifiedToMandatorilyRedeemableCapitalStockShares_E05C2F813F2089A629B57F076BFB6C52" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_NetSharesReclassifiedToMandatorilyRedeemableCapitalStockShares_E05C2F813F2089A629B57F076BFB6C52" xlink:to="lab_fhlbsf_NetSharesReclassifiedToMandatorilyRedeemableCapitalStockShares_E05C2F813F2089A629B57F076BFB6C52" xlink:type="arc" />
    <link:label id="lab_fhlbsf_NetSharesReclassifiedToMandatorilyRedeemableCapitalStockValue_2624CF808A042F2FFD2C7F0391E47E29_negatedTerseLabel_en-US" xlink:label="lab_fhlbsf_NetSharesReclassifiedToMandatorilyRedeemableCapitalStockValue_2624CF808A042F2FFD2C7F0391E47E29" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Capital stock reclassified from/(to) mandatorily redeemable capital stock, net, value</link:label>
    <link:label id="lab_fhlbsf_NetSharesReclassifiedToMandatorilyRedeemableCapitalStockValue_2624CF808A042F2FFD2C7F0391E47E29_label_en-US" xlink:label="lab_fhlbsf_NetSharesReclassifiedToMandatorilyRedeemableCapitalStockValue_2624CF808A042F2FFD2C7F0391E47E29" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Shares Reclassified to Mandatorily Redeemable Capital Stock Value</link:label>
    <link:label id="lab_fhlbsf_NetSharesReclassifiedToMandatorilyRedeemableCapitalStockValue_2624CF808A042F2FFD2C7F0391E47E29_documentation_en-US" xlink:label="lab_fhlbsf_NetSharesReclassifiedToMandatorilyRedeemableCapitalStockValue_2624CF808A042F2FFD2C7F0391E47E29" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The net aalue of shares reclassified to mandatorily redeemable capital stock during the period.</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_NetSharesReclassifiedToMandatorilyRedeemableCapitalStockValue" xlink:label="loc_fhlbsf_NetSharesReclassifiedToMandatorilyRedeemableCapitalStockValue_2624CF808A042F2FFD2C7F0391E47E29" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_NetSharesReclassifiedToMandatorilyRedeemableCapitalStockValue_2624CF808A042F2FFD2C7F0391E47E29" xlink:to="lab_fhlbsf_NetSharesReclassifiedToMandatorilyRedeemableCapitalStockValue_2624CF808A042F2FFD2C7F0391E47E29" xlink:type="arc" />
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTax_2ADAF62F088BF9CE4CDC7FC8DDFFAF1C_terseLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTax_2ADAF62F088BF9CE4CDC7FC8DDFFAF1C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Comprehensive Income/(Loss)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTax_2ADAF62F088BF9CE4CDC7FC8DDFFAF1C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_2ADAF62F088BF9CE4CDC7FC8DDFFAF1C" xlink:to="lab_us-gaap_ComprehensiveIncomeNetOfTax_2ADAF62F088BF9CE4CDC7FC8DDFFAF1C" xlink:type="arc" />
    <link:label id="lab_us-gaap_DividendsCommonStockCash_387ED78750FC5AB734017F260ECE339A_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DividendsCommonStockCash_387ED78750FC5AB734017F260ECE339A" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Cash dividends paid on capital stock</link:label>
    <link:label id="lab_us-gaap_DividendsCommonStockCash_387ED78750FC5AB734017F260ECE339A_label_en-US" xlink:label="lab_us-gaap_DividendsCommonStockCash_387ED78750FC5AB734017F260ECE339A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends, Common Stock, Cash</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DividendsCommonStockCash" xlink:label="loc_us-gaap_DividendsCommonStockCash_387ED78750FC5AB734017F260ECE339A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsCommonStockCash_387ED78750FC5AB734017F260ECE339A" xlink:to="lab_us-gaap_DividendsCommonStockCash_387ED78750FC5AB734017F260ECE339A" xlink:type="arc" />
    <link:label id="lab_us-gaap_SharesIssued_85DDC25F791BE3A603A1B849DD2E14FC_periodEndLabel_en-US" xlink:label="lab_us-gaap_SharesIssued_85DDC25F791BE3A603A1B849DD2E14FC" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance, Shares</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SharesIssued" xlink:label="loc_us-gaap_SharesIssued_85DDC25F791BE3A603A1B849DD2E14FC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SharesIssued_85DDC25F791BE3A603A1B849DD2E14FC" xlink:to="lab_us-gaap_SharesIssued_85DDC25F791BE3A603A1B849DD2E14FC" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockholdersEquity_03ACCBF3463EC27661508018423571F9_periodEndLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquity_03ACCBF3463EC27661508018423571F9" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="loc_us-gaap_StockholdersEquity_03ACCBF3463EC27661508018423571F9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquity_03ACCBF3463EC27661508018423571F9" xlink:to="lab_us-gaap_StockholdersEquity_03ACCBF3463EC27661508018423571F9" xlink:type="arc" />
    <link:label id="lab_us-gaap_SubsequentEventsAbstract_B4204CF18843F2366D3175F82BD0687E_label_en-US" xlink:label="lab_us-gaap_SubsequentEventsAbstract_B4204CF18843F2366D3175F82BD0687E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Events [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SubsequentEventsAbstract" xlink:label="loc_us-gaap_SubsequentEventsAbstract_B4204CF18843F2366D3175F82BD0687E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventsAbstract_B4204CF18843F2366D3175F82BD0687E" xlink:to="lab_us-gaap_SubsequentEventsAbstract_B4204CF18843F2366D3175F82BD0687E" xlink:type="arc" />
    <link:label id="lab_us-gaap_SubsequentEventsTextBlock_7B01A72BCF06D896F00A75FA935B9BF5_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventsTextBlock_7B01A72BCF06D896F00A75FA935B9BF5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Events</link:label>
    <link:label id="lab_us-gaap_SubsequentEventsTextBlock_7B01A72BCF06D896F00A75FA935B9BF5_label_en-US" xlink:label="lab_us-gaap_SubsequentEventsTextBlock_7B01A72BCF06D896F00A75FA935B9BF5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Events [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SubsequentEventsTextBlock" xlink:label="loc_us-gaap_SubsequentEventsTextBlock_7B01A72BCF06D896F00A75FA935B9BF5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventsTextBlock_7B01A72BCF06D896F00A75FA935B9BF5" xlink:to="lab_us-gaap_SubsequentEventsTextBlock_7B01A72BCF06D896F00A75FA935B9BF5" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtAndCapitalLeasesDisclosuresTextBlock_303B6FD4A4EC681AE6F48F85D20ACFDA_terseLabel_en-US" xlink:label="lab_us-gaap_DebtAndCapitalLeasesDisclosuresTextBlock_303B6FD4A4EC681AE6F48F85D20ACFDA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated Obligations</link:label>
    <link:label id="lab_us-gaap_DebtAndCapitalLeasesDisclosuresTextBlock_303B6FD4A4EC681AE6F48F85D20ACFDA_label_en-US" xlink:label="lab_us-gaap_DebtAndCapitalLeasesDisclosuresTextBlock_303B6FD4A4EC681AE6F48F85D20ACFDA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt and Capital Leases Disclosures [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtAndCapitalLeasesDisclosuresTextBlock" xlink:label="loc_us-gaap_DebtAndCapitalLeasesDisclosuresTextBlock_303B6FD4A4EC681AE6F48F85D20ACFDA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtAndCapitalLeasesDisclosuresTextBlock_303B6FD4A4EC681AE6F48F85D20ACFDA" xlink:to="lab_us-gaap_DebtAndCapitalLeasesDisclosuresTextBlock_303B6FD4A4EC681AE6F48F85D20ACFDA" xlink:type="arc" />
    <link:label id="lab_us-gaap_SegmentReportingAbstract_B0B085129EAC11B2B1A075FCCA60BE9E_label_en-US" xlink:label="lab_us-gaap_SegmentReportingAbstract_B0B085129EAC11B2B1A075FCCA60BE9E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SegmentReportingAbstract" xlink:label="loc_us-gaap_SegmentReportingAbstract_B0B085129EAC11B2B1A075FCCA60BE9E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingAbstract_B0B085129EAC11B2B1A075FCCA60BE9E" xlink:to="lab_us-gaap_SegmentReportingAbstract_B0B085129EAC11B2B1A075FCCA60BE9E" xlink:type="arc" />
    <link:label id="lab_us-gaap_SegmentReportingDisclosureTextBlock_FA859B47B2855CE0217A75FFBD447F26_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingDisclosureTextBlock_FA859B47B2855CE0217A75FFBD447F26" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segment Information</link:label>
    <link:label id="lab_us-gaap_SegmentReportingDisclosureTextBlock_FA859B47B2855CE0217A75FFBD447F26_label_en-US" xlink:label="lab_us-gaap_SegmentReportingDisclosureTextBlock_FA859B47B2855CE0217A75FFBD447F26" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SegmentReportingDisclosureTextBlock" xlink:label="loc_us-gaap_SegmentReportingDisclosureTextBlock_FA859B47B2855CE0217A75FFBD447F26" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingDisclosureTextBlock_FA859B47B2855CE0217A75FFBD447F26" xlink:to="lab_us-gaap_SegmentReportingDisclosureTextBlock_FA859B47B2855CE0217A75FFBD447F26" xlink:type="arc" />
    <link:label id="lab_fhlbsf_A12AccumulatedOtherComprehensiveIncomeAbstract_B373CE71D4CEDB45743D05AA310EAECC_label_en-US" xlink:label="lab_fhlbsf_A12AccumulatedOtherComprehensiveIncomeAbstract_B373CE71D4CEDB45743D05AA310EAECC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">12. Accumulated Other Comprehensive Income [Abstract]</link:label>
    <link:label id="lab_fhlbsf_A12AccumulatedOtherComprehensiveIncomeAbstract_B373CE71D4CEDB45743D05AA310EAECC_documentation_en-US" xlink:label="lab_fhlbsf_A12AccumulatedOtherComprehensiveIncomeAbstract_B373CE71D4CEDB45743D05AA310EAECC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">12. Accumulated Other Comprehensive Income [Abstract]</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_A12AccumulatedOtherComprehensiveIncomeAbstract" xlink:label="loc_fhlbsf_A12AccumulatedOtherComprehensiveIncomeAbstract_B373CE71D4CEDB45743D05AA310EAECC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_A12AccumulatedOtherComprehensiveIncomeAbstract_B373CE71D4CEDB45743D05AA310EAECC" xlink:to="lab_fhlbsf_A12AccumulatedOtherComprehensiveIncomeAbstract_B373CE71D4CEDB45743D05AA310EAECC" xlink:type="arc" />
    <link:label id="lab_us-gaap_ComprehensiveIncomeNoteTextBlock_0BB6F454715E9222A48305AA5F7E0B6C_terseLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNoteTextBlock_0BB6F454715E9222A48305AA5F7E0B6C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated Other Comprehensive Income/(Loss)</link:label>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNoteTextBlock_0BB6F454715E9222A48305AA5F7E0B6C_label_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNoteTextBlock_0BB6F454715E9222A48305AA5F7E0B6C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive Income (Loss) Note [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ComprehensiveIncomeNoteTextBlock" xlink:label="loc_us-gaap_ComprehensiveIncomeNoteTextBlock_0BB6F454715E9222A48305AA5F7E0B6C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComprehensiveIncomeNoteTextBlock_0BB6F454715E9222A48305AA5F7E0B6C" xlink:to="lab_us-gaap_ComprehensiveIncomeNoteTextBlock_0BB6F454715E9222A48305AA5F7E0B6C" xlink:type="arc" />
    <link:label id="lab_dei_EntitiesTable_AA5EBBDD0159823040989E483C62B85E_label_en-US" xlink:label="lab_dei_EntitiesTable_AA5EBBDD0159823040989E483C62B85E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entities [Table]</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntitiesTable" xlink:label="loc_dei_EntitiesTable_AA5EBBDD0159823040989E483C62B85E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntitiesTable_AA5EBBDD0159823040989E483C62B85E" xlink:to="lab_dei_EntitiesTable_AA5EBBDD0159823040989E483C62B85E" xlink:type="arc" />
    <link:label id="lab_dei_LegalEntityAxis_F5E8B145FBE8310E03E19E483C622E14_terseLabel_en-US" xlink:label="lab_dei_LegalEntityAxis_F5E8B145FBE8310E03E19E483C622E14" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</link:label>
    <link:label id="lab_dei_LegalEntityAxis_F5E8B145FBE8310E03E19E483C622E14_label_en-US" xlink:label="lab_dei_LegalEntityAxis_F5E8B145FBE8310E03E19E483C622E14" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="loc_dei_LegalEntityAxis_F5E8B145FBE8310E03E19E483C622E14" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_LegalEntityAxis_F5E8B145FBE8310E03E19E483C622E14" xlink:to="lab_dei_LegalEntityAxis_F5E8B145FBE8310E03E19E483C622E14" xlink:type="arc" />
    <link:label id="lab_dei_EntityDomain_1748426D04785CEF67499E483C62B015_terseLabel_en-US" xlink:label="lab_dei_EntityDomain_1748426D04785CEF67499E483C62B015" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity [Domain]</link:label>
    <link:label id="lab_dei_EntityDomain_1748426D04785CEF67499E483C62B015_label_en-US" xlink:label="lab_dei_EntityDomain_1748426D04785CEF67499E483C62B015" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="loc_dei_EntityDomain_1748426D04785CEF67499E483C62B015" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityDomain_1748426D04785CEF67499E483C62B015" xlink:to="lab_dei_EntityDomain_1748426D04785CEF67499E483C62B015" xlink:type="arc" />
    <link:label id="lab_dei_EntityInformationLineItems_2E3476D4429A248F4BF6BE580905B7D1_terseLabel_en-US" xlink:label="lab_dei_EntityInformationLineItems_2E3476D4429A248F4BF6BE580905B7D1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document and Entity Information</link:label>
    <link:label id="lab_dei_EntityInformationLineItems_2E3476D4429A248F4BF6BE580905B7D1_label_en-US" xlink:label="lab_dei_EntityInformationLineItems_2E3476D4429A248F4BF6BE580905B7D1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Information [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityInformationLineItems" xlink:label="loc_dei_EntityInformationLineItems_2E3476D4429A248F4BF6BE580905B7D1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityInformationLineItems_2E3476D4429A248F4BF6BE580905B7D1" xlink:to="lab_dei_EntityInformationLineItems_2E3476D4429A248F4BF6BE580905B7D1" xlink:type="arc" />
    <link:label id="lab_dei_EntityRegistrantName_51920BCE22F25EE05ACC9E4D640894E7_terseLabel_en-US" xlink:label="lab_dei_EntityRegistrantName_51920BCE22F25EE05ACC9E4D640894E7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:label id="lab_dei_EntityRegistrantName_51920BCE22F25EE05ACC9E4D640894E7_label_en-US" xlink:label="lab_dei_EntityRegistrantName_51920BCE22F25EE05ACC9E4D640894E7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityRegistrantName" xlink:label="loc_dei_EntityRegistrantName_51920BCE22F25EE05ACC9E4D640894E7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityRegistrantName_51920BCE22F25EE05ACC9E4D640894E7" xlink:to="lab_dei_EntityRegistrantName_51920BCE22F25EE05ACC9E4D640894E7" xlink:type="arc" />
    <link:label id="lab_dei_EntityCentralIndexKey_CB511329200F070226C69E99729DADC1_terseLabel_en-US" xlink:label="lab_dei_EntityCentralIndexKey_CB511329200F070226C69E99729DADC1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:label id="lab_dei_EntityCentralIndexKey_CB511329200F070226C69E99729DADC1_label_en-US" xlink:label="lab_dei_EntityCentralIndexKey_CB511329200F070226C69E99729DADC1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="loc_dei_EntityCentralIndexKey_CB511329200F070226C69E99729DADC1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCentralIndexKey_CB511329200F070226C69E99729DADC1" xlink:to="lab_dei_EntityCentralIndexKey_CB511329200F070226C69E99729DADC1" xlink:type="arc" />
    <link:label id="lab_dei_DocumentType_E2B4B12F564F683377269E4DA41EC24A_terseLabel_en-US" xlink:label="lab_dei_DocumentType_E2B4B12F564F683377269E4DA41EC24A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:label id="lab_dei_DocumentType_E2B4B12F564F683377269E4DA41EC24A_label_en-US" xlink:label="lab_dei_DocumentType_E2B4B12F564F683377269E4DA41EC24A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_DocumentType" xlink:label="loc_dei_DocumentType_E2B4B12F564F683377269E4DA41EC24A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentType_E2B4B12F564F683377269E4DA41EC24A" xlink:to="lab_dei_DocumentType_E2B4B12F564F683377269E4DA41EC24A" xlink:type="arc" />
    <link:label id="lab_dei_DocumentPeriodEndDate_15BBB4E7BE18B786F47F9E4E4178F92F_terseLabel_en-US" xlink:label="lab_dei_DocumentPeriodEndDate_15BBB4E7BE18B786F47F9E4E4178F92F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:label id="lab_dei_DocumentPeriodEndDate_15BBB4E7BE18B786F47F9E4E4178F92F_label_en-US" xlink:label="lab_dei_DocumentPeriodEndDate_15BBB4E7BE18B786F47F9E4E4178F92F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="loc_dei_DocumentPeriodEndDate_15BBB4E7BE18B786F47F9E4E4178F92F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentPeriodEndDate_15BBB4E7BE18B786F47F9E4E4178F92F" xlink:to="lab_dei_DocumentPeriodEndDate_15BBB4E7BE18B786F47F9E4E4178F92F" xlink:type="arc" />
    <link:label id="lab_dei_AmendmentFlag_F72D7649D2C348865B3E9E4E75D661F5_terseLabel_en-US" xlink:label="lab_dei_AmendmentFlag_F72D7649D2C348865B3E9E4E75D661F5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:label id="lab_dei_AmendmentFlag_F72D7649D2C348865B3E9E4E75D661F5_label_en-US" xlink:label="lab_dei_AmendmentFlag_F72D7649D2C348865B3E9E4E75D661F5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_AmendmentFlag" xlink:label="loc_dei_AmendmentFlag_F72D7649D2C348865B3E9E4E75D661F5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_AmendmentFlag_F72D7649D2C348865B3E9E4E75D661F5" xlink:to="lab_dei_AmendmentFlag_F72D7649D2C348865B3E9E4E75D661F5" xlink:type="arc" />
    <link:label id="lab_dei_DocumentFiscalYearFocus_ABF176B0B7FE3A0240399E4EB2D02363_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalYearFocus_ABF176B0B7FE3A0240399E4EB2D02363" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</link:label>
    <link:label id="lab_dei_DocumentFiscalYearFocus_ABF176B0B7FE3A0240399E4EB2D02363_label_en-US" xlink:label="lab_dei_DocumentFiscalYearFocus_ABF176B0B7FE3A0240399E4EB2D02363" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="loc_dei_DocumentFiscalYearFocus_ABF176B0B7FE3A0240399E4EB2D02363" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFiscalYearFocus_ABF176B0B7FE3A0240399E4EB2D02363" xlink:to="lab_dei_DocumentFiscalYearFocus_ABF176B0B7FE3A0240399E4EB2D02363" xlink:type="arc" />
    <link:label id="lab_dei_DocumentFiscalPeriodFocus_C029886E9D15AD1EC4DA9E4ECD3D9629_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus_C029886E9D15AD1EC4DA9E4ECD3D9629" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:label id="lab_dei_DocumentFiscalPeriodFocus_C029886E9D15AD1EC4DA9E4ECD3D9629_label_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus_C029886E9D15AD1EC4DA9E4ECD3D9629" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="loc_dei_DocumentFiscalPeriodFocus_C029886E9D15AD1EC4DA9E4ECD3D9629" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFiscalPeriodFocus_C029886E9D15AD1EC4DA9E4ECD3D9629" xlink:to="lab_dei_DocumentFiscalPeriodFocus_C029886E9D15AD1EC4DA9E4ECD3D9629" xlink:type="arc" />
    <link:label id="lab_dei_CurrentFiscalYearEndDate_79A83C4BD8D3964323D59E4F02B51266_terseLabel_en-US" xlink:label="lab_dei_CurrentFiscalYearEndDate_79A83C4BD8D3964323D59E4F02B51266" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
    <link:label id="lab_dei_CurrentFiscalYearEndDate_79A83C4BD8D3964323D59E4F02B51266_label_en-US" xlink:label="lab_dei_CurrentFiscalYearEndDate_79A83C4BD8D3964323D59E4F02B51266" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="loc_dei_CurrentFiscalYearEndDate_79A83C4BD8D3964323D59E4F02B51266" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CurrentFiscalYearEndDate_79A83C4BD8D3964323D59E4F02B51266" xlink:to="lab_dei_CurrentFiscalYearEndDate_79A83C4BD8D3964323D59E4F02B51266" xlink:type="arc" />
    <link:label id="lab_dei_EntityWellKnownSeasonedIssuer_99B647E05BF352EFB9D89E4F2FDF80E4_terseLabel_en-US" xlink:label="lab_dei_EntityWellKnownSeasonedIssuer_99B647E05BF352EFB9D89E4F2FDF80E4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Well-known Seasoned Issuer</link:label>
    <link:label id="lab_dei_EntityWellKnownSeasonedIssuer_99B647E05BF352EFB9D89E4F2FDF80E4_label_en-US" xlink:label="lab_dei_EntityWellKnownSeasonedIssuer_99B647E05BF352EFB9D89E4F2FDF80E4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Well-known Seasoned Issuer</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="loc_dei_EntityWellKnownSeasonedIssuer_99B647E05BF352EFB9D89E4F2FDF80E4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityWellKnownSeasonedIssuer_99B647E05BF352EFB9D89E4F2FDF80E4" xlink:to="lab_dei_EntityWellKnownSeasonedIssuer_99B647E05BF352EFB9D89E4F2FDF80E4" xlink:type="arc" />
    <link:label id="lab_dei_EntityVoluntaryFilers_04E3D98283D0E9C1F3129E4F549ED8B7_terseLabel_en-US" xlink:label="lab_dei_EntityVoluntaryFilers_04E3D98283D0E9C1F3129E4F549ED8B7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Voluntary Filers</link:label>
    <link:label id="lab_dei_EntityVoluntaryFilers_04E3D98283D0E9C1F3129E4F549ED8B7_label_en-US" xlink:label="lab_dei_EntityVoluntaryFilers_04E3D98283D0E9C1F3129E4F549ED8B7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Voluntary Filers</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="loc_dei_EntityVoluntaryFilers_04E3D98283D0E9C1F3129E4F549ED8B7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityVoluntaryFilers_04E3D98283D0E9C1F3129E4F549ED8B7" xlink:to="lab_dei_EntityVoluntaryFilers_04E3D98283D0E9C1F3129E4F549ED8B7" xlink:type="arc" />
    <link:label id="lab_dei_EntityCurrentReportingStatus_68F2C55299E37C26959F9E4F8032C33E_terseLabel_en-US" xlink:label="lab_dei_EntityCurrentReportingStatus_68F2C55299E37C26959F9E4F8032C33E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Current Reporting Status</link:label>
    <link:label id="lab_dei_EntityCurrentReportingStatus_68F2C55299E37C26959F9E4F8032C33E_label_en-US" xlink:label="lab_dei_EntityCurrentReportingStatus_68F2C55299E37C26959F9E4F8032C33E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Current Reporting Status</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="loc_dei_EntityCurrentReportingStatus_68F2C55299E37C26959F9E4F8032C33E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCurrentReportingStatus_68F2C55299E37C26959F9E4F8032C33E" xlink:to="lab_dei_EntityCurrentReportingStatus_68F2C55299E37C26959F9E4F8032C33E" xlink:type="arc" />
    <link:label id="lab_dei_EntityFilerCategory_C4D513E56EA9D92DA0B89E4FD02740F9_terseLabel_en-US" xlink:label="lab_dei_EntityFilerCategory_C4D513E56EA9D92DA0B89E4FD02740F9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Filer Category</link:label>
    <link:label id="lab_dei_EntityFilerCategory_C4D513E56EA9D92DA0B89E4FD02740F9_label_en-US" xlink:label="lab_dei_EntityFilerCategory_C4D513E56EA9D92DA0B89E4FD02740F9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Filer Category</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityFilerCategory" xlink:label="loc_dei_EntityFilerCategory_C4D513E56EA9D92DA0B89E4FD02740F9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityFilerCategory_C4D513E56EA9D92DA0B89E4FD02740F9" xlink:to="lab_dei_EntityFilerCategory_C4D513E56EA9D92DA0B89E4FD02740F9" xlink:type="arc" />
    <link:label id="lab_dei_EntityCommonStockSharesOutstanding_0A869FC659902130F8B41493F9C7D3D7_terseLabel_en-US" xlink:label="lab_dei_EntityCommonStockSharesOutstanding_0A869FC659902130F8B41493F9C7D3D7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
    <link:label id="lab_dei_EntityCommonStockSharesOutstanding_0A869FC659902130F8B41493F9C7D3D7_label_en-US" xlink:label="lab_dei_EntityCommonStockSharesOutstanding_0A869FC659902130F8B41493F9C7D3D7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="loc_dei_EntityCommonStockSharesOutstanding_0A869FC659902130F8B41493F9C7D3D7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCommonStockSharesOutstanding_0A869FC659902130F8B41493F9C7D3D7" xlink:to="lab_dei_EntityCommonStockSharesOutstanding_0A869FC659902130F8B41493F9C7D3D7" xlink:type="arc" />
    <link:label id="lab_fhlbsf_StatementOfConditionParentheticalAbstract_22DFCBAE4E1FDF641C849950CCE36E48_label_en-US" xlink:label="lab_fhlbsf_StatementOfConditionParentheticalAbstract_22DFCBAE4E1FDF641C849950CCE36E48" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Condition Parenthetical [Abstract]</link:label>
    <link:label id="lab_fhlbsf_StatementOfConditionParentheticalAbstract_22DFCBAE4E1FDF641C849950CCE36E48_documentation_en-US" xlink:label="lab_fhlbsf_StatementOfConditionParentheticalAbstract_22DFCBAE4E1FDF641C849950CCE36E48" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Statement of Condition Parenthetical [Abstract]</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_StatementOfConditionParentheticalAbstract" xlink:label="loc_fhlbsf_StatementOfConditionParentheticalAbstract_22DFCBAE4E1FDF641C849950CCE36E48" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_StatementOfConditionParentheticalAbstract_22DFCBAE4E1FDF641C849950CCE36E48" xlink:to="lab_fhlbsf_StatementOfConditionParentheticalAbstract_22DFCBAE4E1FDF641C849950CCE36E48" xlink:type="arc" />
    <link:label id="lab_us-gaap_HeldToMaturitySecuritiesFairValue_78662E5C197B28CE62C59E08B314160D_terseLabel_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesFairValue_78662E5C197B28CE62C59E08B314160D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Held-to-maturity Securities, Fair Value</link:label>
    <link:label id="lab_us-gaap_HeldToMaturitySecuritiesFairValue_78662E5C197B28CE62C59E08B314160D_label_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesFairValue_78662E5C197B28CE62C59E08B314160D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Held-to-maturity Securities, Fair Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_HeldToMaturitySecuritiesFairValue" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesFairValue_78662E5C197B28CE62C59E08B314160D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HeldToMaturitySecuritiesFairValue_78662E5C197B28CE62C59E08B314160D" xlink:to="lab_us-gaap_HeldToMaturitySecuritiesFairValue_78662E5C197B28CE62C59E08B314160D" xlink:type="arc" />
    <link:label id="lab_us-gaap_AdvancesFairValueDisclosure_08B86F940CE234F361AF9E0A8E9B0F00_terseLabel_en-US" xlink:label="lab_us-gaap_AdvancesFairValueDisclosure_08B86F940CE234F361AF9E0A8E9B0F00" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Advances, Fair Value</link:label>
    <link:label id="lab_us-gaap_AdvancesFairValueDisclosure_08B86F940CE234F361AF9E0A8E9B0F00_label_en-US" xlink:label="lab_us-gaap_AdvancesFairValueDisclosure_08B86F940CE234F361AF9E0A8E9B0F00" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Advances, Fair Value Disclosure</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdvancesFairValueDisclosure" xlink:label="loc_us-gaap_AdvancesFairValueDisclosure_08B86F940CE234F361AF9E0A8E9B0F00" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdvancesFairValueDisclosure_08B86F940CE234F361AF9E0A8E9B0F00" xlink:to="lab_us-gaap_AdvancesFairValueDisclosure_08B86F940CE234F361AF9E0A8E9B0F00" xlink:type="arc" />
    <link:label id="lab_us-gaap_LoansAndLeasesReceivableAllowance_CB8A9052EEBB60A84A1D9E0B78605184_terseLabel_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableAllowance_CB8A9052EEBB60A84A1D9E0B78605184" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Provision for Credit Losses</link:label>
    <link:label id="lab_us-gaap_LoansAndLeasesReceivableAllowance_CB8A9052EEBB60A84A1D9E0B78605184_label_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableAllowance_CB8A9052EEBB60A84A1D9E0B78605184" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans and Leases Receivable, Allowance</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LoansAndLeasesReceivableAllowance" xlink:label="loc_us-gaap_LoansAndLeasesReceivableAllowance_CB8A9052EEBB60A84A1D9E0B78605184" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansAndLeasesReceivableAllowance_CB8A9052EEBB60A84A1D9E0B78605184" xlink:to="lab_us-gaap_LoansAndLeasesReceivableAllowance_CB8A9052EEBB60A84A1D9E0B78605184" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebtFairValue_9E2D6E2DD9DBAC7D49A79E0CE83C9E65_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtFairValue_9E2D6E2DD9DBAC7D49A79E0CE83C9E65" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated Obligation Bonds, Fair Value</link:label>
    <link:label id="lab_us-gaap_LongTermDebtFairValue_9E2D6E2DD9DBAC7D49A79E0CE83C9E65_label_en-US" xlink:label="lab_us-gaap_LongTermDebtFairValue_9E2D6E2DD9DBAC7D49A79E0CE83C9E65" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt, Fair Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LongTermDebtFairValue" xlink:label="loc_us-gaap_LongTermDebtFairValue_9E2D6E2DD9DBAC7D49A79E0CE83C9E65" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtFairValue_9E2D6E2DD9DBAC7D49A79E0CE83C9E65" xlink:to="lab_us-gaap_LongTermDebtFairValue_9E2D6E2DD9DBAC7D49A79E0CE83C9E65" xlink:type="arc" />
    <link:label id="lab_us-gaap_CapitalAbstract_17B6507D5998F1AAE47A9E0EE3519875_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalAbstract_17B6507D5998F1AAE47A9E0EE3519875" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalAbstract" xlink:label="loc_us-gaap_CapitalAbstract_17B6507D5998F1AAE47A9E0EE3519875" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalAbstract_17B6507D5998F1AAE47A9E0EE3519875" xlink:to="lab_us-gaap_CapitalAbstract_17B6507D5998F1AAE47A9E0EE3519875" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_73CA18C2B6F628B37B309E0DAED874FB_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare_73CA18C2B6F628B37B309E0DAED874FB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital Stock - Par Value Per Share</link:label>
    <link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_73CA18C2B6F628B37B309E0DAED874FB_label_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare_73CA18C2B6F628B37B309E0DAED874FB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Par or Stated Value Per Share</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="loc_us-gaap_CommonStockParOrStatedValuePerShare_73CA18C2B6F628B37B309E0DAED874FB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockParOrStatedValuePerShare_73CA18C2B6F628B37B309E0DAED874FB" xlink:to="lab_us-gaap_CommonStockParOrStatedValuePerShare_73CA18C2B6F628B37B309E0DAED874FB" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommonStockSharesIssued_CB1AFED4B1C9791D35479E0DE6C14500_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued_CB1AFED4B1C9791D35479E0DE6C14500" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common Stock, Shares, Issued</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesIssued_CB1AFED4B1C9791D35479E0DE6C14500_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued_CB1AFED4B1C9791D35479E0DE6C14500" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares, Issued</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="loc_us-gaap_CommonStockSharesIssued_CB1AFED4B1C9791D35479E0DE6C14500" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesIssued_CB1AFED4B1C9791D35479E0DE6C14500" xlink:to="lab_us-gaap_CommonStockSharesIssued_CB1AFED4B1C9791D35479E0DE6C14500" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommonStockSharesOutstanding_20C9DDE51E4BED3EDFCA9E0E16D9511E_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding_20C9DDE51E4BED3EDFCA9E0E16D9511E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital Stock, Shares, Outstanding</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesOutstanding_20C9DDE51E4BED3EDFCA9E0E16D9511E_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding_20C9DDE51E4BED3EDFCA9E0E16D9511E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares, Outstanding</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="loc_us-gaap_CommonStockSharesOutstanding_20C9DDE51E4BED3EDFCA9E0E16D9511E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesOutstanding_20C9DDE51E4BED3EDFCA9E0E16D9511E" xlink:to="lab_us-gaap_CommonStockSharesOutstanding_20C9DDE51E4BED3EDFCA9E0E16D9511E" xlink:type="arc" />
    <link:label id="lab_fhlbsf_StatementOfConditionFootnotesAbstract_4BC2D7C468B70571E6C9D731878B71BD_terseLabel_en-US" xlink:label="lab_fhlbsf_StatementOfConditionFootnotesAbstract_4BC2D7C468B70571E6C9D731878B71BD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of Condition Footnotes</link:label>
    <link:label id="lab_fhlbsf_StatementOfConditionFootnotesAbstract_4BC2D7C468B70571E6C9D731878B71BD_label_en-US" xlink:label="lab_fhlbsf_StatementOfConditionFootnotesAbstract_4BC2D7C468B70571E6C9D731878B71BD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Condition Footnotes [Abstract]</link:label>
    <link:label id="lab_fhlbsf_StatementOfConditionFootnotesAbstract_4BC2D7C468B70571E6C9D731878B71BD_documentation_en-US" xlink:label="lab_fhlbsf_StatementOfConditionFootnotesAbstract_4BC2D7C468B70571E6C9D731878B71BD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Statement of Condition Footnotes [Abstract]</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_StatementOfConditionFootnotesAbstract" xlink:label="loc_fhlbsf_StatementOfConditionFootnotesAbstract_4BC2D7C468B70571E6C9D731878B71BD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_StatementOfConditionFootnotesAbstract_4BC2D7C468B70571E6C9D731878B71BD" xlink:to="lab_fhlbsf_StatementOfConditionFootnotesAbstract_4BC2D7C468B70571E6C9D731878B71BD" xlink:type="arc" />
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesPledgedAsCollateral_72D6416AC61C3058CDF57A8D58F52A6D_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesPledgedAsCollateral_72D6416AC61C3058CDF57A8D58F52A6D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Available-for-sale Securities Pledged as Collateral</link:label>
    <link:label id="lab_us-gaap_AvailableForSaleSecuritiesPledgedAsCollateral_72D6416AC61C3058CDF57A8D58F52A6D_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesPledgedAsCollateral_72D6416AC61C3058CDF57A8D58F52A6D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Available-for-sale Securities Pledged as Collateral</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AvailableForSaleSecuritiesPledgedAsCollateral" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesPledgedAsCollateral_72D6416AC61C3058CDF57A8D58F52A6D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesPledgedAsCollateral_72D6416AC61C3058CDF57A8D58F52A6D" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesPledgedAsCollateral_72D6416AC61C3058CDF57A8D58F52A6D" xlink:type="arc" />
    <link:label id="lab_us-gaap_TradingSecuritiesPledgedAsCollateral_172E7E40A288E32CAF867A8F77E25620_terseLabel_en-US" xlink:label="lab_us-gaap_TradingSecuritiesPledgedAsCollateral_172E7E40A288E32CAF867A8F77E25620" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trading Securities Pledged as Collateral</link:label>
    <link:label id="lab_us-gaap_TradingSecuritiesPledgedAsCollateral_172E7E40A288E32CAF867A8F77E25620_label_en-US" xlink:label="lab_us-gaap_TradingSecuritiesPledgedAsCollateral_172E7E40A288E32CAF867A8F77E25620" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Securities Pledged as Collateral</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TradingSecuritiesPledgedAsCollateral" xlink:label="loc_us-gaap_TradingSecuritiesPledgedAsCollateral_172E7E40A288E32CAF867A8F77E25620" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TradingSecuritiesPledgedAsCollateral_172E7E40A288E32CAF867A8F77E25620" xlink:to="lab_us-gaap_TradingSecuritiesPledgedAsCollateral_172E7E40A288E32CAF867A8F77E25620" xlink:type="arc" />
    <link:label id="lab_us-gaap_HeldToMaturitySecuritiesPledgedAsCollateral_27F19528BB0AD5CDE0307A8FB317F77F_terseLabel_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesPledgedAsCollateral_27F19528BB0AD5CDE0307A8FB317F77F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Held-to-maturity Securities Pledged as Collateral</link:label>
    <link:label id="lab_us-gaap_HeldToMaturitySecuritiesPledgedAsCollateral_27F19528BB0AD5CDE0307A8FB317F77F_label_en-US" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesPledgedAsCollateral_27F19528BB0AD5CDE0307A8FB317F77F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Held-to-maturity Securities Pledged as Collateral</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_HeldToMaturitySecuritiesPledgedAsCollateral" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesPledgedAsCollateral_27F19528BB0AD5CDE0307A8FB317F77F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HeldToMaturitySecuritiesPledgedAsCollateral_27F19528BB0AD5CDE0307A8FB317F77F" xlink:to="lab_us-gaap_HeldToMaturitySecuritiesPledgedAsCollateral_27F19528BB0AD5CDE0307A8FB317F77F" xlink:type="arc" />
    <link:label id="lab_fhlbsf_StatementOfCapitalParenthethicalAbstract_8E35C08E936D9A02412B9E18266DEDD4_label_en-US" xlink:label="lab_fhlbsf_StatementOfCapitalParenthethicalAbstract_8E35C08E936D9A02412B9E18266DEDD4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Capital Parenthethical [Abstract]</link:label>
    <link:label id="lab_fhlbsf_StatementOfCapitalParenthethicalAbstract_8E35C08E936D9A02412B9E18266DEDD4_documentation_en-US" xlink:label="lab_fhlbsf_StatementOfCapitalParenthethicalAbstract_8E35C08E936D9A02412B9E18266DEDD4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Statement of Capital Parenthethical [Abstract]</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_StatementOfCapitalParenthethicalAbstract" xlink:label="loc_fhlbsf_StatementOfCapitalParenthethicalAbstract_8E35C08E936D9A02412B9E18266DEDD4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_StatementOfCapitalParenthethicalAbstract_8E35C08E936D9A02412B9E18266DEDD4" xlink:to="lab_fhlbsf_StatementOfCapitalParenthethicalAbstract_8E35C08E936D9A02412B9E18266DEDD4" xlink:type="arc" />
    <link:label id="lab_us-gaap_ParentMember_327C99CB326FF03D21FC9E182A269525_terseLabel_en-US" xlink:label="lab_us-gaap_ParentMember_327C99CB326FF03D21FC9E182A269525" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Parent [Member]</link:label>
    <link:label id="lab_us-gaap_ParentMember_327C99CB326FF03D21FC9E182A269525_label_en-US" xlink:label="lab_us-gaap_ParentMember_327C99CB326FF03D21FC9E182A269525" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Parent [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ParentMember" xlink:label="loc_us-gaap_ParentMember_327C99CB326FF03D21FC9E182A269525" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ParentMember_327C99CB326FF03D21FC9E182A269525" xlink:to="lab_us-gaap_ParentMember_327C99CB326FF03D21FC9E182A269525" xlink:type="arc" />
    <link:label id="lab_us-gaap_PreferredStockMember_5F5C250E04572AA1B07A9E182A26AA69_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockMember_5F5C250E04572AA1B07A9E182A26AA69" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred Stock [Member]</link:label>
    <link:label id="lab_us-gaap_PreferredStockMember_5F5C250E04572AA1B07A9E182A26AA69_label_en-US" xlink:label="lab_us-gaap_PreferredStockMember_5F5C250E04572AA1B07A9E182A26AA69" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockMember" xlink:label="loc_us-gaap_PreferredStockMember_5F5C250E04572AA1B07A9E182A26AA69" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockMember_5F5C250E04572AA1B07A9E182A26AA69" xlink:to="lab_us-gaap_PreferredStockMember_5F5C250E04572AA1B07A9E182A26AA69" xlink:type="arc" />
    <link:label id="lab_us-gaap_CapitalUnitsMember_CE20E07D1096D49D84C79E182A261D87_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalUnitsMember_CE20E07D1096D49D84C79E182A261D87" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital Units [Member]</link:label>
    <link:label id="lab_us-gaap_CapitalUnitsMember_CE20E07D1096D49D84C79E182A261D87_label_en-US" xlink:label="lab_us-gaap_CapitalUnitsMember_CE20E07D1096D49D84C79E182A261D87" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Units [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalUnitsMember" xlink:label="loc_us-gaap_CapitalUnitsMember_CE20E07D1096D49D84C79E182A261D87" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalUnitsMember_CE20E07D1096D49D84C79E182A261D87" xlink:to="lab_us-gaap_CapitalUnitsMember_CE20E07D1096D49D84C79E182A261D87" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommonStockIncludingAdditionalPaidInCapitalMember_D6339009D2792343C3EA9E182A265234_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockIncludingAdditionalPaidInCapitalMember_D6339009D2792343C3EA9E182A265234" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common Stock Including Additional Paid in Capital [Member]</link:label>
    <link:label id="lab_us-gaap_CommonStockIncludingAdditionalPaidInCapitalMember_D6339009D2792343C3EA9E182A265234_label_en-US" xlink:label="lab_us-gaap_CommonStockIncludingAdditionalPaidInCapitalMember_D6339009D2792343C3EA9E182A265234" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock Including Additional Paid in Capital [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockIncludingAdditionalPaidInCapitalMember" xlink:label="loc_us-gaap_CommonStockIncludingAdditionalPaidInCapitalMember_D6339009D2792343C3EA9E182A265234" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockIncludingAdditionalPaidInCapitalMember_D6339009D2792343C3EA9E182A265234" xlink:to="lab_us-gaap_CommonStockIncludingAdditionalPaidInCapitalMember_D6339009D2792343C3EA9E182A265234" xlink:type="arc" />
    <link:label id="lab_us-gaap_PreferredStockIncludingAdditionalPaidInCapitalMember_484C2F294A918853471B9E182A26E1E0_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockIncludingAdditionalPaidInCapitalMember_484C2F294A918853471B9E182A26E1E0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred Stock Including Additional Paid in Capital [Member]</link:label>
    <link:label id="lab_us-gaap_PreferredStockIncludingAdditionalPaidInCapitalMember_484C2F294A918853471B9E182A26E1E0_label_en-US" xlink:label="lab_us-gaap_PreferredStockIncludingAdditionalPaidInCapitalMember_484C2F294A918853471B9E182A26E1E0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock Including Additional Paid in Capital [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockIncludingAdditionalPaidInCapitalMember" xlink:label="loc_us-gaap_PreferredStockIncludingAdditionalPaidInCapitalMember_484C2F294A918853471B9E182A26E1E0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockIncludingAdditionalPaidInCapitalMember_484C2F294A918853471B9E182A26E1E0" xlink:to="lab_us-gaap_PreferredStockIncludingAdditionalPaidInCapitalMember_484C2F294A918853471B9E182A26E1E0" xlink:type="arc" />
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_BB00E0BF55E3824657BF9E182A26D18C_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember_BB00E0BF55E3824657BF9E182A26D18C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional Paid-in Capital [Member]</link:label>
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_BB00E0BF55E3824657BF9E182A26D18C_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember_BB00E0BF55E3824657BF9E182A26D18C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional Paid-in Capital [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="loc_us-gaap_AdditionalPaidInCapitalMember_BB00E0BF55E3824657BF9E182A26D18C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalPaidInCapitalMember_BB00E0BF55E3824657BF9E182A26D18C" xlink:to="lab_us-gaap_AdditionalPaidInCapitalMember_BB00E0BF55E3824657BF9E182A26D18C" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherAdditionalCapitalMember_57778832EB5E203936859E182A268186_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAdditionalCapitalMember_57778832EB5E203936859E182A268186" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Additional Capital [Member]</link:label>
    <link:label id="lab_us-gaap_OtherAdditionalCapitalMember_57778832EB5E203936859E182A268186_label_en-US" xlink:label="lab_us-gaap_OtherAdditionalCapitalMember_57778832EB5E203936859E182A268186" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Additional Capital [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherAdditionalCapitalMember" xlink:label="loc_us-gaap_OtherAdditionalCapitalMember_57778832EB5E203936859E182A268186" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAdditionalCapitalMember_57778832EB5E203936859E182A268186" xlink:to="lab_us-gaap_OtherAdditionalCapitalMember_57778832EB5E203936859E182A268186" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredCompensationShareBasedPaymentsMember_D14B8B5216A06CC59E179E182A263957_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredCompensationShareBasedPaymentsMember_D14B8B5216A06CC59E179E182A263957" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred Compensation, Share-based Payments [Member]</link:label>
    <link:label id="lab_us-gaap_DeferredCompensationShareBasedPaymentsMember_D14B8B5216A06CC59E179E182A263957_label_en-US" xlink:label="lab_us-gaap_DeferredCompensationShareBasedPaymentsMember_D14B8B5216A06CC59E179E182A263957" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Compensation, Share-based Payments [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredCompensationShareBasedPaymentsMember" xlink:label="loc_us-gaap_DeferredCompensationShareBasedPaymentsMember_D14B8B5216A06CC59E179E182A263957" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredCompensationShareBasedPaymentsMember_D14B8B5216A06CC59E179E182A263957" xlink:to="lab_us-gaap_DeferredCompensationShareBasedPaymentsMember_D14B8B5216A06CC59E179E182A263957" xlink:type="arc" />
    <link:label id="lab_us-gaap_TreasuryStockMember_6D2F69884F51277232D89E182A264A5A_terseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockMember_6D2F69884F51277232D89E182A264A5A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Treasury Stock [Member]</link:label>
    <link:label id="lab_us-gaap_TreasuryStockMember_6D2F69884F51277232D89E182A264A5A_label_en-US" xlink:label="lab_us-gaap_TreasuryStockMember_6D2F69884F51277232D89E182A264A5A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Treasury Stock [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockMember" xlink:label="loc_us-gaap_TreasuryStockMember_6D2F69884F51277232D89E182A264A5A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockMember_6D2F69884F51277232D89E182A264A5A" xlink:to="lab_us-gaap_TreasuryStockMember_6D2F69884F51277232D89E182A264A5A" xlink:type="arc" />
    <link:label id="lab_us-gaap_UndistributedIncomeFromOtherThanGainOrLossOnSaleOfPropertiesMember_6278D887538BF28621CF9E182A2652CB_terseLabel_en-US" xlink:label="lab_us-gaap_UndistributedIncomeFromOtherThanGainOrLossOnSaleOfPropertiesMember_6278D887538BF28621CF9E182A2652CB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Undistributed Income from Other than Gain or Loss on Sale of Properties [Member]</link:label>
    <link:label id="lab_us-gaap_UndistributedIncomeFromOtherThanGainOrLossOnSaleOfPropertiesMember_6278D887538BF28621CF9E182A2652CB_label_en-US" xlink:label="lab_us-gaap_UndistributedIncomeFromOtherThanGainOrLossOnSaleOfPropertiesMember_6278D887538BF28621CF9E182A2652CB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Undistributed Income from Other than Gain (Loss) on Sale of Properties [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_UndistributedIncomeFromOtherThanGainOrLossOnSaleOfPropertiesMember" xlink:label="loc_us-gaap_UndistributedIncomeFromOtherThanGainOrLossOnSaleOfPropertiesMember_6278D887538BF28621CF9E182A2652CB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UndistributedIncomeFromOtherThanGainOrLossOnSaleOfPropertiesMember_6278D887538BF28621CF9E182A2652CB" xlink:to="lab_us-gaap_UndistributedIncomeFromOtherThanGainOrLossOnSaleOfPropertiesMember_6278D887538BF28621CF9E182A2652CB" xlink:type="arc" />
    <link:label id="lab_us-gaap_UndistributedNetRealizedGainOrLossOnSaleOfPropertiesMember_5BC2FEC9C6CF52D562559E182A263FD6_terseLabel_en-US" xlink:label="lab_us-gaap_UndistributedNetRealizedGainOrLossOnSaleOfPropertiesMember_5BC2FEC9C6CF52D562559E182A263FD6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Undistributed Net Realized Gain or Loss on Sale of Properties [Member]</link:label>
    <link:label id="lab_us-gaap_UndistributedNetRealizedGainOrLossOnSaleOfPropertiesMember_5BC2FEC9C6CF52D562559E182A263FD6_label_en-US" xlink:label="lab_us-gaap_UndistributedNetRealizedGainOrLossOnSaleOfPropertiesMember_5BC2FEC9C6CF52D562559E182A263FD6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Undistributed Net Realized Gain (Loss) on Sale of Properties [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_UndistributedNetRealizedGainOrLossOnSaleOfPropertiesMember" xlink:label="loc_us-gaap_UndistributedNetRealizedGainOrLossOnSaleOfPropertiesMember_5BC2FEC9C6CF52D562559E182A263FD6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UndistributedNetRealizedGainOrLossOnSaleOfPropertiesMember_5BC2FEC9C6CF52D562559E182A263FD6" xlink:to="lab_us-gaap_UndistributedNetRealizedGainOrLossOnSaleOfPropertiesMember_5BC2FEC9C6CF52D562559E182A263FD6" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccumulatedDistributionsInExcessOfNetIncomeMember_3817FA546CC07D1C46179E182A2650D6_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedDistributionsInExcessOfNetIncomeMember_3817FA546CC07D1C46179E182A2650D6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated Distributions in Excess of Net Income [Member]</link:label>
    <link:label id="lab_us-gaap_AccumulatedDistributionsInExcessOfNetIncomeMember_3817FA546CC07D1C46179E182A2650D6_label_en-US" xlink:label="lab_us-gaap_AccumulatedDistributionsInExcessOfNetIncomeMember_3817FA546CC07D1C46179E182A2650D6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Distributions in Excess of Net Income [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedDistributionsInExcessOfNetIncomeMember" xlink:label="loc_us-gaap_AccumulatedDistributionsInExcessOfNetIncomeMember_3817FA546CC07D1C46179E182A2650D6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedDistributionsInExcessOfNetIncomeMember_3817FA546CC07D1C46179E182A2650D6" xlink:to="lab_us-gaap_AccumulatedDistributionsInExcessOfNetIncomeMember_3817FA546CC07D1C46179E182A2650D6" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_C56B1DC8AFDD2E6FFB809E182A26E5F7_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_C56B1DC8AFDD2E6FFB809E182A26E5F7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated Net Unrealized Investment Gain (Loss) [Member]</link:label>
    <link:label id="lab_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_C56B1DC8AFDD2E6FFB809E182A26E5F7_label_en-US" xlink:label="lab_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_C56B1DC8AFDD2E6FFB809E182A26E5F7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Net Unrealized Investment Gain (Loss) [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember" xlink:label="loc_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_C56B1DC8AFDD2E6FFB809E182A26E5F7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_C56B1DC8AFDD2E6FFB809E182A26E5F7" xlink:to="lab_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember_C56B1DC8AFDD2E6FFB809E182A26E5F7" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember_499E41683985E5FCAA229E182A263B6E_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember_499E41683985E5FCAA229E182A263B6E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]</link:label>
    <link:label id="lab_us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember_499E41683985E5FCAA229E182A263B6E_label_en-US" xlink:label="lab_us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember_499E41683985E5FCAA229E182A263B6E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember" xlink:label="loc_us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember_499E41683985E5FCAA229E182A263B6E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember_499E41683985E5FCAA229E182A263B6E" xlink:to="lab_us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember_499E41683985E5FCAA229E182A263B6E" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccumulatedTranslationAdjustmentMember_01730A16D0903FF745F79E182A26FA3A_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedTranslationAdjustmentMember_01730A16D0903FF745F79E182A26FA3A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated Translation Adjustment [Member]</link:label>
    <link:label id="lab_us-gaap_AccumulatedTranslationAdjustmentMember_01730A16D0903FF745F79E182A26FA3A_label_en-US" xlink:label="lab_us-gaap_AccumulatedTranslationAdjustmentMember_01730A16D0903FF745F79E182A26FA3A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Translation Adjustment [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedTranslationAdjustmentMember" xlink:label="loc_us-gaap_AccumulatedTranslationAdjustmentMember_01730A16D0903FF745F79E182A26FA3A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedTranslationAdjustmentMember_01730A16D0903FF745F79E182A26FA3A" xlink:to="lab_us-gaap_AccumulatedTranslationAdjustmentMember_01730A16D0903FF745F79E182A26FA3A" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_616E2D95F55CE3CC4CA99E182A26578C_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_616E2D95F55CE3CC4CA99E182A26578C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated Defined Benefit Plans Adjustment [Member]</link:label>
    <link:label id="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_616E2D95F55CE3CC4CA99E182A26578C_label_en-US" xlink:label="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_616E2D95F55CE3CC4CA99E182A26578C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Defined Benefit Plans Adjustment [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember" xlink:label="loc_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_616E2D95F55CE3CC4CA99E182A26578C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_616E2D95F55CE3CC4CA99E182A26578C" xlink:to="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember_616E2D95F55CE3CC4CA99E182A26578C" xlink:type="arc" />
    <link:label id="lab_us-gaap_NoncontrollingInterestMember_DE461E4A0C59CF4E739F9E182A26EDB1_terseLabel_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember_DE461E4A0C59CF4E739F9E182A26EDB1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest [Member]</link:label>
    <link:label id="lab_us-gaap_NoncontrollingInterestMember_DE461E4A0C59CF4E739F9E182A26EDB1_label_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember_DE461E4A0C59CF4E739F9E182A26EDB1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NoncontrollingInterestMember" xlink:label="loc_us-gaap_NoncontrollingInterestMember_DE461E4A0C59CF4E739F9E182A26EDB1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoncontrollingInterestMember_DE461E4A0C59CF4E739F9E182A26EDB1" xlink:to="lab_us-gaap_NoncontrollingInterestMember_DE461E4A0C59CF4E739F9E182A26EDB1" xlink:type="arc" />
    <link:label id="lab_fhlbsf_AnnualizedDividendRateOnCapitalStock_2971A9D824A9F71A5B83C2E1D9B4EBEB_terseLabel_en-US" xlink:label="lab_fhlbsf_AnnualizedDividendRateOnCapitalStock_2971A9D824A9F71A5B83C2E1D9B4EBEB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash dividends paid on capital stock</link:label>
    <link:label id="lab_fhlbsf_AnnualizedDividendRateOnCapitalStock_2971A9D824A9F71A5B83C2E1D9B4EBEB_label_en-US" xlink:label="lab_fhlbsf_AnnualizedDividendRateOnCapitalStock_2971A9D824A9F71A5B83C2E1D9B4EBEB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annualized Dividend Rate On Capital Stock</link:label>
    <link:label id="lab_fhlbsf_AnnualizedDividendRateOnCapitalStock_2971A9D824A9F71A5B83C2E1D9B4EBEB_documentation_en-US" xlink:label="lab_fhlbsf_AnnualizedDividendRateOnCapitalStock_2971A9D824A9F71A5B83C2E1D9B4EBEB" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The annualized dividend rate on capital stock dividends paid and recorded during the period.</link:label>
    <link:loc xlink:href="fhlbsf-20120331.xsd#fhlbsf_AnnualizedDividendRateOnCapitalStock" xlink:label="loc_fhlbsf_AnnualizedDividendRateOnCapitalStock_2971A9D824A9F71A5B83C2E1D9B4EBEB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_fhlbsf_AnnualizedDividendRateOnCapitalStock_2971A9D824A9F71A5B83C2E1D9B4EBEB" xlink:to="lab_fhlbsf_AnnualizedDividendRateOnCapitalStock_2971A9D824A9F71A5B83C2E1D9B4EBEB" xlink:type="arc" />
  </link:labelLink>
</link:linkbase>
