 |
December 2009
11th District Monthly Weighted Average Cost of Funds Index
| Index Month |
Index Value |
Date Announced |
| December 2009 |
1.828 |
January 29, 2010 |
The COFI is computed from data reported by COFI Reporting Members of the Federal
Home Loan Bank of San Francisco. For December 2009,
24 eligible institutions reported COFI data.
Note: Effective November 1, 2009, Wachovia Mortgage, FSB, merged into Wells Fargo Bank, N.A., which is not eligible to be a COFI Reporting Member. As a result, Wachovia Mortgage was not included in the November 2009 Cost of Funds Index. The impact of removals of COFI Reporting Members on the COFI depends entirely on the amount of interest expense and total funds (deposit accounts, advances, and other borrowings) of the entity being removed. If an institution with a large amount of interest expense and total funds is removed from the COFI Reporting Members, the impact on the COFI may be significant.
Comparison to November 2009 Index Value
|
December 2009 |
November 2009 |
| Index value |
1.828% |
2.094% |
| Average total funds* |
37.5 billion |
38.5 billion |
| Average deposit accounts |
28.5 billion |
28.8 billion |
| Average advances |
8.7 billion |
9.4 billion |
| Average other borrowings |
290.7 million |
306.6 million |
| Total interest expense** |
57.1 million
|
67.2 million
|
*Averages for a month consist of the simple average of the monthend balances for that month and the prior month for total funds, deposit accounts, advances, and other borrowings.
**The total interest expense is derived from interest expense reported on deposit accounts, Federal Home Loan Bank advances, and other borrowings, adjusted for the number of days in the month. The adjustment factors for 2009
are 1.086 for February, 1.014 for 30-day months, and 0.981 for 31-day months. |
|
|
Monthly