EX-99.1 14 ex991q32011.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EX 99.1 Q3 2011


EXHIBIT 99.1
Federal Home Loan Bank of San Francisco
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
 
 
  
Three Months Ended
  
Six Months Ended
(Dollars in millions)
  
September 30,
2011

  
September 30,
2010

  
September 30,
2011

  
September 30,
2010

Earnings:
  
 
  
 
  
 
  
 
Income/(loss) before assessments
  
$
40

  
$
187

  
$
134

 
$
354

Fixed charges
  
176

  
254

  
577

 
841

Total earnings
  
$
216

  
$
441

  
$
711

  
$
1,195

Fixed charges:
  
 
  
 
  
 
  
 
Interest expense
  
$
176

  
$
254

 
$
576

 
$
840

Estimated rental expense based on an interest factor
  
—

  
—

 
1

 
1

Total fixed charges
  
$
176

  
$
254

  
$
577

  
$
841

Ratio of earnings to fixed charges
  
1.23

  
1.74

  
1.23

  
1.42