Attached files

file filename
EX-99.2 - EXHIBIT 99.2 - Federal Home Loan Bank of Cincinnatiex992201610-k.htm
EX-99.1 - EXHIBIT 99.1 - Federal Home Loan Bank of Cincinnatiex991201610-k.htm
EX-32 - EXHIBIT 32 - Federal Home Loan Bank of Cincinnatiex32201610-k.htm
EX-31.2 - EXHIBIT 31.2 - Federal Home Loan Bank of Cincinnatiex312201610-k.htm
EX-31.1 - EXHIBIT 31.1 - Federal Home Loan Bank of Cincinnatiex311201610-k.htm
EX-24 - EXHIBIT 24 - Federal Home Loan Bank of Cincinnatiex24201610-k.htm
EX-12 - EXHIBIT 12 - Federal Home Loan Bank of Cincinnatiex12201610-k.htm
EX-10.10 - EXHIBIT 10.10 - Federal Home Loan Bank of Cincinnatiex10102016-10k.htm
EX-10.3 - EXHIBIT 10.3 - Federal Home Loan Bank of Cincinnatiex103201610-k.htm
10-K - 10-K - Federal Home Loan Bank of Cincinnatifhlbcin201610-k.htm


Exhibit 18

March 16, 2017


Board of Directors
Federal Home Loan Bank of Cincinnati
221 East Fourth Street, Suite 600
Cincinnati, Ohio 45202

Dear Directors:

We are providing this letter to you for inclusion as an exhibit to your Form 10-K filing pursuant to Item 601 of Regulation S-K.

We have audited the financial statements included in the Federal Home Loan Bank of Cincinnati’s (the “Company”) Annual Report on Form 10-K for the year ended December 31, 2016 and issued our report thereon dated March 16, 2017. Note 1 to the financial statements describes a change in accounting principle for amortization and accretion of premiums and discounts and hedging basis adjustments on mortgage loans held for portfolio from the retrospective method to the contractual method. It should be understood that the preferability of one acceptable method of accounting over another for such amortization has not been addressed in any authoritative accounting literature, and in expressing our concurrence below we have relied on management’s determination that this change in accounting principle is preferable. Based on our reading of management’s stated reasons and justification for this change in accounting principle in the Form 10-K, and our discussions with management as to their judgment about the relevant business planning factors relating to the change, we concur with management that such change represents, in the Company’s circumstances, the adoption of a preferable accounting principle in conformity with Accounting Standards Codification 250, Accounting Changes and Error Corrections.

Very truly yours,

/s/ PricewaterhouseCoopers LLP
Cincinnati, Ohio
March 16, 2017