EX-12 6 l35085aexv12.htm EX-12 EX-12
Exhibit 12
FEDERAL HOME LOAN BANK OF CINCINNATI
STATEMENTS OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)
                                         
    Year Ended December 31,  
    2008     2007     2006     2005     2004  
       
 
                                       
Income before assessments
  $ 322,592     $ 366,524     $ 345,954     $ 300,481     $ 309,186  
Add: fixed charges (see below)
    2,826,014       3,927,597       3,547,268       2,597,945       1,652,127  
       
 
                                       
Total earnings
  $ 3,148,606     $ 4,294,121     $ 3,893,222     $ 2,898,426     $ 1,961,313  
       
 
                                       
Fixed charges: (1)
                                       
Interest expense
  $ 2,825,376     $ 3,926,975     $ 3,546,666     $ 2,597,379     $ 1,651,569  
Interest portion of rent expense
    638       622       602       566       558  
       
 
                                       
Total fixed charges
  $    2,826,014     $    3,927,597     $    3,547,268     $    2,597,945     $    1,652,127  
       
 
                                       
Ratio of earnings to fixed charges (2)
    1.11       1.09       1.10       1.12       1.19  
       
 
(1)   Fixed charges consist of interest expense (including amortization related to indebtedness) and one-third (the proportion deemed representative of the interest portion) of rent expense.
(2)   The ratio of earnings to fixed charges has been computed by dividing Total earnings by Total fixed charges.