FHLB San Francisco to Stop Publishing Cost of Funds Indices
December 11, 2018
The Federal Home Loan Bank of San Francisco (FHLB San Francisco) stated it would cease publication of three cost of funds indices early in 2020 due to the reduced number financial institutions reporting the data used to calculate the indices.
The 11th District Monthly Weighted Average Cost of Funds Index (COFI) will see its final publication with the December 2019 COFI on Jan. 31, 2020. The Semiannual Weighted Average Cost of Funds Indices for the 11th District and for California will be terminated following the publication of the indices for the July-December 2019 period on Feb.18, 2020.
When the COFI was originally developed in 1981, there were more than 200 savings institutions, known as “COFI Reporting Members,” that reported their cost of funds data for inclusion in the calculation of the indices. Today, however, there are only nine financial institutions that are COFI Reporting Members. Only savings institution members of the FHLB San Francisco that meet certain criteria are included in the index.
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