Tag Archive | “The Federal Home Loan Bank system”

Federal Home Loan Banks Profit Rises 56% in Second Quarter

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It has been said by The Federal Home Loan Bank system, the 12 government-chartered cooperatives that is owned by U.S. financial companies, that there has been a rise of 56% in second-quarter earnings and that is due to $979 million gains related to higher interest rates.

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The system’s Reston, Virginia-based finance office said in an statement today that there has been a jump in the combined net income. The combined net income has been increased from $718 million a year earlier to $1.1 billion in the current year, largely from gains on derivatives and hedging activities. Moreover there has been a drop of 20% to $739 billion in the lending to members.

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September 2011
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