Fri, Aug 2, 11:37 AM (88 days ago)
For the quarter ended June 30, 2024, the Federal Home Loan Bank of San Francisco (FHLBSF) reported a net income of $86 million, a decrease from $121 million in the same quarter of 2023. This decline was primarily due to a $43 million reduction in net interest income, driven by lower average balances of interest-earning assets and higher costs of interest-bearing liabilities. Total assets decreased to $86.3 billion from $92.8 billion at year-end 2023, mainly due to a $6.6 billion drop in advances. Investments slightly increased by $89 million, while mortgage loans held for portfolio declined by $30 million. The Bank maintained a strong regulatory capital ratio of 8.6%, up from 8.0% at year-end 2023. The Bank declared a quarterly cash dividend at an annualized rate of 8.75%, totaling $65 million. The Bank's liquidity and capital resources remained robust, meeting all regulatory requirements and maintaining sufficient liquidity to meet obligations without issuing new consolidated obligations for over 10 days.