Five of the 10 Federal Home Loan Banks that have thus far released unaudited 2008 financial results have taken fourth-quarter net losses and at least four of those have recorded “other than temporary impairments” for the year linked to private-label MBS market deterioration that the FHLBanks Office of Finance‘s warns could continue.
The fourth-quarter net losses for these FHLBanks are as follows: Boston, $232 million; Pittsburgh, $188 million; San Francisco, $103 million; Dallas, $68 million, and Topeka, $63 million, according to the FHLBanks office in Reston, Va.
Of these, FHLBanks that said they have recorded the OTTIs for 2008 as follows are: San Francisco, $590 million; Boston, $339 million; Pittsburgh, $266 million and Topeka, $5 million.
