Federal Home Loan Bank of Topeka 10-K 2006 FY Annual report

Exhibit 12.1

FHLBANK TOPEKA
CALCULATION OF EARNINGS TO FIXED CHARGES
12/31/2006
(Thousands)

	12/31/2006		12/31/2005		12/31/2004		12/31/2003		12/31/2002
Earnings
Income Before Assessments		185,448		184,871		127,216		119,200		78,778
Total Fixed Charges		2,238,914		1,500,725		798,103		661,038		825,346
Capitalized Interest		—		—		—		—		—
Total Earnings		2,424,362		1,685,596		925,319		780,238		904,124
Fixed Charges
Interest Expense1		2,238,914		1,500,725		798,103		661,038		825,346
Capitalized Interest		—		—		—		—		—
Estimated Interest Attributable to Rental Expense 2		—		—		—		—		—
Total Fixed Charges		2,238,914		1,500,725		798,103		661,038		825,346
Earnings to Fixed Charges Ratio		1.08		1.12		1.16		1.18		1.10

1	For purposes of this calculation the amortization of premium, discount, and capitalized expenses related to indebtedness are included in interest expense and have not been separately displayed in this calculation.
2	The FHLBank has rental expense; however, has not placed an estimated of the interest expense included in rental expense in this calculation as the amount is very minimal.