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Home » FHLBank San Francisco Releases July 2021 Price of Funds Index

FHLBank San Francisco Releases July 2021 Price of Funds Index

SAN FRANCISCO, Aug. 31, 2021 (GLOBE NEWSWIRE) — The Federal Residence Mortgage Financial institution of San Francisco (Financial institution) introduced August 31, 2021, that the 11th District Month-to-month Weighted Common Price of Funds Index (“COFI”) for July 2021 is 0.263%. The index for June 2021 was 0.282%.

As beforehand introduced, the Financial institution will now not calculate the COFI after the publication of the December 2021 index on January 31, 2022, due to the numerous decline within the variety of monetary establishments eligible to report the info used to calculate the indices.

The COFI is computed from the precise curiosity expense reported for a given month by the Arizona, California, and Nevada financial savings establishments members of the Financial institution that fulfill the Financial institution’s standards for inclusion within the COFI (“COFI Reporting Members”). For July 2021, 8 eligible establishments reported COFI information. Modifications in rates of interest on adjustable charge mortgage loans provided by many monetary establishments are tied to adjustments within the COFI.

Though the Financial institution makes an excellent religion effort to be correct within the calculation and publication of the COFI, the Financial institution doesn’t warrant, affirm, or assure the accuracy of the info it receives from its COFI Reporting Members, the accuracy of the COFI calculation, or the accuracy of the COFI as printed. The Financial institution doesn’t study the books and information of its COFI Reporting Members for the aim of confirming the accuracy of the info they ship to the Financial institution used to calculate the COFI, and the Financial institution expressly disclaims all legal responsibility that will come up from any use of the COFI or the usage of inaccurate information obtained from its COFI Reporting Members in calculating the COFI. As well as, the Financial institution expressly disclaims any legal responsibility to any particular person for any inaccuracy within the COFI, whatever the trigger, or for any ensuing damages.

The Financial institution accepts information for the COFI for a given month from the COFI Reporting Members till 12 midday California time on the final enterprise day of the next month and publishes the COFI for that given month based mostly on information obtained by that point. The Financial institution won’t revise or republish the COFI for a given month based mostly on new or corrected information obtained after that point and expressly disclaims all legal responsibility that will come up because of this. As well as, though the Financial institution makes an excellent religion effort to publish the COFI on the final enterprise day of the next month at or after 3 p.m. California time, the Financial institution doesn’t assure that it’s going to at all times publish the COFI at that date and time, and the Financial institution expressly disclaims any legal responsibility for any delay in publishing the COFI.

Sure company exercise, comparable to constitution adjustments or mergers, could trigger the Financial institution to find out {that a} monetary establishment now not qualifies as a COFI Reporting Member and can now not be included within the COFI. Equally, if a COFI Reporting Member’s Financial institution membership is terminated, it’s going to now not be included within the COFI. The impression of such removals on the COFI will rely solely on the quantity of curiosity expense and complete funds of the entity being eliminated, and could also be vital.

For extra info and disclosures concerning the calculation of the COFI, removing of a COFI Reporting Member, and different issues in regards to the COFI, go to the Financial institution’s web site at www.fhlbsf.com.

CONTACT: Sandy Dunn, 415-370 9755 (cellular), [email protected]