Attached files
EXHIBIT 99.1
Federal Home Loan Bank of San Francisco
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
| Three Months Ended | Nine Months Ended | ||||||||||||
| (Dollars in millions) | September 30, 2009 |
September 30, 2008 |
September 30, 2009 |
September 30, 2008 | |||||||||
| Earnings: |
|||||||||||||
| (Loss)/income before assessments |
$ | (116 | ) | $ | 139 | $ | 464 | $ | 770 | ||||
| Fixed charges |
492 | 2,149 | 2,309 | 7,535 | |||||||||
| Total earnings |
$ | 376 | $ | 2,288 | $ | 2,773 | $ | 8,305 | |||||
| Fixed charges: |
|||||||||||||
| Interest expense |
$ | 492 | $ | 2,149 | $ | 2,308 | $ | 7,534 | |||||
| Estimated interest component of net rental expense(1) |
— | — | 1 | 1 | |||||||||
| Total fixed charges |
$ | 492 | $ | 2,149 | $ | 2,309 | $ | 7,535 | |||||
| Ratio of earnings to fixed charges |
0.76 | 1.06 | 1.20 | 1.10 | |||||||||
| (1) | Represents an estimated interest factor. |