Federal Home Loan Bank of Cincinnati - FORM 10-K - EX-12

file	filename
EX-4 - EX-4 - Federal Home Loan Bank of Cincinnati	l39003exv4.htm
EX-24 - EX-24 - Federal Home Loan Bank of Cincinnati	l39003exv24.htm
EX-32 - EX-32 - Federal Home Loan Bank of Cincinnati	l39003exv32.htm
EX-3.2 - EX-3.2 - Federal Home Loan Bank of Cincinnati	l39003exv3w2.htm
EX-10.7 - EX-10.7 - Federal Home Loan Bank of Cincinnati	l39003exv10w7.htm
EX-99.1 - EX-99.1 - Federal Home Loan Bank of Cincinnati	l39003exv99w1.htm
EX-31.2 - EX-31.2 - Federal Home Loan Bank of Cincinnati	l39003exv31w2.htm
EX-99.2 - EX-99.2 - Federal Home Loan Bank of Cincinnati	l39003exv99w2.htm
EX-10.8 - EX-10.8 - Federal Home Loan Bank of Cincinnati	l39003exv10w8.htm
EX-31.1 - EX-31.1 - Federal Home Loan Bank of Cincinnati	l39003exv31w1.htm
10-K - FORM 10-K - Federal Home Loan Bank of Cincinnati	l39003e10vk.htm

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,
	2009		2008		2007		2006		2005


Income before assessments	$	365,845	$	322,592	$	366,524	$	345,954	$	300,481
Add: fixed charges (see below)		1,295,555		2,826,014		3,927,597		3,547,268		2,597,945


Total earnings	$	1,661,400	$	3,148,606	$	4,294,121	$	3,893,222	$	2,898,426


Fixed charges: ⁽¹⁾
Interest expense	$	1,294,877	$	2,825,376	$	3,926,975	$	3,546,666	$	2,597,379
Interest portion of rent expense		678		638		622		602		566


Total fixed charges	$	1,295,555	$	2,826,014	$	3,927,597	$	3,547,268	$	2,597,945


Ratio of earnings to fixed charges ⁽²⁾		1.28		1.11		1.09		1.10		1.12


(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.

Federal Home Loan Bank of Cincinnati - FORM 10-K - EX-12 - March 18, 2010