EX-99.1 11 dex991.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - THREE MONTHS ENDED 03/31/10 Computation of Ratio of Earnings to Fixed Charges - Three Months Ended 03/31/10

EXHIBIT 99.1

Federal Home Loan Bank of San Francisco

Computation of Ratio of Earnings to Fixed Charges

(Unaudited)

 

     Three Months Ended
(Dollars in millions)    March 31,
2010		    March 31,
2009

Earnings:

      

Income before assessments

    $ 126    $ 167

Fixed charges

      305      1,116

Total earnings

    $ 431    $ 1,283

Fixed charges:

      

Interest expense

    $ 305    $ 1,116

Estimated interest component of net rental expense(1)

      —      —

Total fixed charges

    $ 305    $ 1,116

Ratio of earnings to fixed charges

      1.41      1.15

 

(1) Represents an estimated interest factor.